RIFR Fees and Costs — Global Infrastructure Active ETF
Data updated: 2026-08-24
The net expense ratio is 0.59%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3K in broker commissions, 0.0171% of average net assets, and portfolio turnover was 24%.
RIFR Fees and Expenses
Annual operating expenses and sales charges of RIFR. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.59% |
| Fee waiver | — |
| Net expense ratio | 0.59% |
| 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 | No |
RIFR Costs Over Time
On $10,000 invested in RIFR, assuming 5% a year before costs, total costs come to $383 over 5 years, cutting the return by 0.64% 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 0.59%) | $62 | $194 | $338 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $210 | $383 |
| Value after costs | $10,436 | $11,367 | $12,380 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
RIFR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0171%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): $21.2M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
RIFR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $600 | 23.22% |
| Goldman Sachs & Co. LLC | $376 | 14.56% |
| BofA Securities, Inc. | $356 | 13.75% |
| Jefferies LLC | $309 | 11.96% |
| Nomura Securities International, Inc. | $255 | 9.86% |
| BNY Capital Markets, LLC | $198 | 7.64% |
| CIBC World Markets Corp. | $169 | 6.53% |
| Virtu Americas LLC | $150 | 5.82% |
| J.P. Morgan Securities LLC | $139 | 5.37% |
| Craigs Investment Partners Limited | $34 | 1.30% |
RIFR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $11.8M | 55.49% |
| Virtu Americas LLC | $3.7M | 17.59% |
| UBS Securities LLC | $2.3M | 10.87% |
| Goldman Sachs & Co. LLC | $1.9M | 9.12% |
| J.P. Morgan Securities LLC | $768K | 3.62% |
| State Street Bank and Trust Company | $687K | 3.24% |
| BNP Paribas Securities Corp. | $17K | 0.08% |
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.