RKLX Fees and Costs — Defiance Daily Target 2X Long RKLB ETF
Data updated: 2026-09-28
The net expense ratio is 1.63%: a 1.29% management fee plus 0.33% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.6M in broker commissions, 1.4451% of average net assets, and portfolio turnover was 416%.
RKLX Fees and Expenses
Annual operating expenses and sales charges of RKLX. Prospectus, as of August 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.63% |
| Fee waiver | — |
| Net expense ratio | 1.63% |
| 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 |
RKLX Costs Over Time
On $10,000 invested in RKLX, assuming 5% a year before costs, total costs come to $1,845 over 5 years, cutting the return by 3.23% 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 1.63%) | $171 | $523 | $887 |
| Trading costs (broker commissions) | $152 | $463 | $786 |
| Lost growth on money paid in costs | $0 | $50 | $173 |
| Total costs | $323 | $1,035 | $1,845 |
| Value after costs | $10,177 | $10,541 | $10,918 |
| Impact on return, per year | 3.23% | 3.23% | 3.23% |
RKLX 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): 1.4451%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $312.9M
- Portfolio turnover (prospectus): 416%
- Securities lending: none during the year
RKLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $896K | 54.59% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $374K | 22.81% |
| MAREX CAPITAL MARKETS INC. | $127K | 7.74% |
| NOMURA SECURITIES INTERNATIONAL INC. | $120K | 7.32% |
| BMO CAPITAL MARKETS CORP. | $47K | 2.84% |
| JANE STREET EXECUTION SERVICES LLC | $41K | 2.48% |
| MORGAN STANLEY & CO. LLC | $18K | 1.12% |
| NATIONAL BANK OF CANADA FINANCIAL INC. | $18K | 1.10% |
RKLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $235.7M | 75.34% |
| WELLS FARGO SECURITIES LLC | $23.4M | 7.48% |
| BMO CAPITAL MARKETS CORP. | $14.1M | 4.51% |
| RBC CAPITAL MARKETS LLC | $10.1M | 3.23% |
| NOMURA SECURITIES INTERNATIONAL INC. | $8.5M | 2.71% |
| MORGAN STANLEY & CO. LLC | $5.0M | 1.59% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $5.0M | 1.59% |
| J.P. MORGAN SECURITIES LLC | $4.8M | 1.54% |
| GOLDMAN SACHS & CO. LLC | $3.8M | 1.20% |
| JEFFERIES LLC | $2.5M | 0.80% |
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.