RUSC Fees and Costs — U.S. Small Cap Equity Active ETF
Data updated: 2026-08-24
The net expense ratio is 0.64% (0.69% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $17K in broker commissions, 0.0638% of average net assets, and portfolio turnover was 30%.
RUSC Fees and Expenses
Annual operating expenses and sales charges of RUSC. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.64% |
| 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 |
RUSC Costs Over Time
On $10,000 invested in RUSC, assuming 5% a year before costs, total costs come to $443 over 5 years, cutting the return by 0.74% 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 0.64%) | $67 | $210 | $366 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $243 | $443 |
| Value after costs | $10,426 | $11,334 | $12,320 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
RUSC 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): 0.0638%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $39.6M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
RUSC Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $8K | 45.26% |
| BNY Capital Markets, LLC | $4K | 23.01% |
| Jefferies LLC | $3K | 17.20% |
| Virtu Americas LLC | $2K | 14.53% |
| Wells Fargo Securities, LLC | $1 | 0.01% |
RUSC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $38.8M | 97.97% |
| State Street Bank and Trust Company | $802K | 2.03% |
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.