RUFF Fees and Costs — Alpha Dog ETF
Data updated: 2024-08-27
The net expense ratio is 0.90%. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $52K in broker commissions, 0.0978% of average net assets, and portfolio turnover was 366%.
RUFF Fees and Expenses
Annual operating expenses and sales charges of RUFF. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
RUFF Costs Over Time
On $10,000 invested in RUFF, assuming 5% a year before costs, total costs come to $624 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 0.90%) | $94 | $295 | $511 |
| Trading costs (broker commissions) | $10 | $32 | $56 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $343 | $624 |
| Value after costs | $10,395 | $11,233 | $12,139 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
RUFF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0978%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): $17.2M
- Portfolio turnover (prospectus): 366%
- Securities lending: none during the year
RUFF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GTS Securities, LLC | $48K | 90.89% |
| Coastal International Security, Inc. | $3K | 5.99% |
| Cowen and Company LLC | $1K | 2.56% |
| Goldman, Sachs & Co. | $296 | 0.57% |
RUFF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $8.3M | 48.62% |
| Goldman Sachs & Co. LLC | $6.2M | 36.23% |
| Virtu Americas LLC | $2.6M | 15.15% |
| GTS Securities, LLC | $0 | 0.00% |
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.