RVRS Fees and Costs — Reverse Cap Weighted U.S. Large Cap ETF
Data updated: 2021-05-26
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $4K in broker commissions, 0.0371% of average net assets, and portfolio turnover was 42%.
RVRS Fees and Expenses
Annual operating expenses and sales charges of RVRS. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| 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 |
RVRS Costs Over Time
On $10,000 invested in RVRS, assuming 5% a year before costs, total costs come to $207 over 5 years, cutting the return by 0.34% 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 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $5 | $19 |
| Total costs | $34 | $113 | $207 |
| Value after costs | $10,466 | $11,463 | $12,555 |
| Impact on return, per year | 0.34% | 0.34% | 0.34% |
RVRS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0371%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $513K
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
RVRS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services, LLC | $3K | 76.15% |
| BTIG, LLC | $904 | 23.62% |
| ROBERT W. BAIRD & CO. INCORPORATED | $9 | 0.24% |
RVRS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES LLC | $513K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.