RGTZ Fees and Costs — Defiance Daily Target 2x Short RGTI ETF
Data updated: 2026-09-28
The net expense ratio is 1.83%: a 1.29% management fee plus 0.54% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $861K in broker commissions, 1.4779% of average net assets, and portfolio turnover was 0%.
RGTZ Fees and Expenses
Annual operating expenses and sales charges of RGTZ. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.83% |
| Fee waiver | — |
| Net expense ratio | 1.83% |
| 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 |
RGTZ Costs Over Time
On $10,000 invested in RGTZ, assuming 5% a year before costs, total costs come to $1,976 over 5 years, cutting the return by 3.47% 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 1.83%) | $192 | $585 | $991 |
| Trading costs (broker commissions) | $155 | $473 | $800 |
| Lost growth on money paid in costs | $0 | $53 | $185 |
| Total costs | $347 | $1,111 | $1,976 |
| Value after costs | $10,153 | $10,465 | $10,787 |
| Impact on return, per year | 3.47% | 3.47% | 3.47% |
RGTZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 1.4779%
- Total broker commissions: $861K
- Bought from dealers (principal trades, not a cost): $90.8M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
RGTZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC. | $353K | 41.03% |
| MAREX CAPITAL MARKETS INC. | $303K | 35.19% |
| CANTOR FITZGERALD & CO. | $110K | 12.76% |
| BMO CAPITAL MARKETS CORP. | $78K | 9.10% |
| JANE STREET EXECUTION SERVICES LLC | $17K | 1.92% |
RGTZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $26.3M | 29.02% |
| MORGAN STANLEY & CO. LLC | $21.1M | 23.28% |
| BMO CAPITAL MARKETS CORP. | $9.3M | 10.24% |
| JEFFERIES LLC | $9.2M | 10.19% |
| NOMURA SECURITIES INTERNATIONAL INC. | $8.9M | 9.84% |
| GOLDMAN SACHS & CO. LLC | $8.4M | 9.28% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $3.5M | 3.87% |
| WELLS FARGO SECURITIES LLC | $1.9M | 2.08% |
| PERSHING LLC | $1.7M | 1.92% |
| RBC CAPITAL MARKETS LLC | $259K | 0.29% |
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.