RFUN Fees and Costs — RiverFront Dynamic Unconstrained Income ETF
Data updated: 2021-10-29
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $147 in broker commissions, 0.0011% of average net assets, and portfolio turnover was 38%.
RFUN Fees and Expenses
Annual operating expenses and sales charges of RFUN. Prospectus, as of March 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.51% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RFUN Costs Over Time
On $10,000 invested in RFUN, assuming 5% a year before costs, total costs come to $348 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $190 | $348 |
| Value after costs | $10,442 | $11,386 | $12,415 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
RFUN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0011%
- Total broker commissions: $147
- Bought from dealers (principal trades, not a cost): $7.1M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
RFUN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WALLACHBETH CAPITAL LLC | $147 | 100.00% |
RFUN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN DISTRIBUTION SERVICES, INC. | $4.1M | 57.49% |
| MARKETAXESS CORPORATION | $1.0M | 14.34% |
| JEFFERIES LLC | $624K | 8.79% |
| MORGAN STANLEY | $397K | 5.59% |
| SUMRIDGE PARTNERS LLC | $391K | 5.51% |
| JANE STREET CAPITAL, LLC | $318K | 4.48% |
| GOLDMAN SACHS & CO. LLC | $105K | 1.48% |
| WELLS FARGO SECURITIES, LLC | $87K | 1.23% |
| MILLENNIUM ADVISORS LLC | $44K | 0.62% |
| RBC CAPITAL MARKETS, LLC | $33K | 0.47% |
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.