QVM Fees and Costs — Arrow QVM Equity Factor ETF
Data updated: 2020-12-23
The net expense ratio is 0.65%: a 0.60% management fee plus 1.71% other expenses, less a 1.66% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $4K in broker commissions, 0.0923% of average net assets, and portfolio turnover was 97%.
QVM Fees and Expenses
Annual operating expenses and sales charges of QVM. Prospectus, as of May 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.71% |
| Gross expense ratio | 2.31% |
| Fee waiver | −1.66% |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
QVM Costs Over Time
On $10,000 invested in QVM, assuming 5% a year before costs, total costs come to $467 over 5 years, cutting the return by 0.78% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.65%) | $68 | $214 | $371 |
| Trading costs (broker commissions) | $10 | $30 | $53 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $256 | $467 |
| Value after costs | $10,422 | $11,320 | $12,296 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
QVM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0923%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $5.2M
- Portfolio turnover (prospectus): 97%
- Securities lending: none during the year
QVM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS MISCHLER | $2K | 48.21% |
| DEUTSCHE BANK | $1K | 28.63% |
| Mischler Financial Group | $876 | 21.80% |
| DBS VICKERS SECURITIES | $50 | 1.25% |
| BARCLAYS | $4 | 0.11% |
| BARRINGTON RESEARCH | $0 | 0.01% |
QVM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs | $5.2M | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.