RALS Fees and Costs — ProShares RAFI Long/Short
Data updated: 2022-04-28
The net expense ratio is 0.95%: a 0.75% management fee plus 3.13% other expenses, less a 2.93% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $617 in broker commissions, 0.0125% of average net assets, and portfolio turnover was 40%.
RALS Fees and Expenses
Annual operating expenses and sales charges of RALS. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 3.13% |
| Gross expense ratio | 3.88% |
| Fee waiver | −2.93% |
| Net expense ratio | 0.95% |
| 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 |
RALS Costs Over Time
On $10,000 invested in RALS, assuming 5% a year before costs, total costs come to $603 over 5 years, cutting the return by 1.01% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $331 | $603 |
| Value after costs | $10,399 | $11,245 | $12,160 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
RALS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0125%
- Total broker commissions: $617
- Bought from dealers (principal trades, not a cost): $10.0M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $18K
- Net income from securities lending: $1K (0.022% of average net assets)
RALS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $404 | 65.40% |
| Susquehanna Financial Group, LLLP | $214 | 34.60% |
RALS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $8.7M | 86.52% |
| Goldman Sachs & Co. LLC | $1.3M | 12.93% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $38K | 0.38% |
| Susquehanna Financial Group, LLLP | $17K | 0.17% |
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.