RONB Fees and Costs — Baron First Principles ETF
Data updated: 2026-08-28
The net expense ratio is 1.00%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $822 in broker commissions, 0.0012% of average net assets, and portfolio turnover was 18%.
RONB Fees and Expenses
Annual operating expenses and sales charges of RONB. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| 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 |
RONB Costs Over Time
On $10,000 invested in RONB, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
RONB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0012%
- Total broker commissions: $822
- Bought from dealers (principal trades, not a cost): $5.0M
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
RONB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $667 | 81.20% |
| Raymond James & Associates, Inc. | $53 | 6.51% |
| Jefferies LLC | $49 | 6.02% |
| Goldman Sachs & Co. LLC | $47 | 5.70% |
| Morgan Stanley & Co. LLC | $2 | 0.25% |
| BofA Securities, Inc. | $1 | 0.17% |
| State Street Global Markets, LLC | $1 | 0.10% |
| Stephens Inc. | $0 | 0.06% |
RONB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $5.0M | 100.00% |
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.