RWEM Fees and Costs — Rayliant Quantamental Emerging Market ex-China Equity ETF
Data updated: 2026-08-28
The net expense ratio is 0.52%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $370K in broker commissions, 0.5750% of average net assets, and portfolio turnover was 238%.
RWEM Fees and Expenses
Annual operating expenses and sales charges of RWEM. Prospectus, as of June 9, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.52% |
| Fee waiver | — |
| Net expense ratio | 0.52% |
| 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 | Yes |
RWEM Costs Over Time
On $10,000 invested in RWEM, assuming 5% a year before costs, total costs come to $684 over 5 years, cutting the return by 1.15% 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 0.52%) | $55 | $170 | $295 |
| Trading costs (broker commissions) | $60 | $188 | $326 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $376 | $684 |
| Value after costs | $10,385 | $11,200 | $12,079 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
RWEM 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): 0.5750%
- Total broker commissions: $370K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 238%
- Securities lending: none during the year
RWEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG | $237K | 67.66% |
| AVIATE GLOBAL | $76K | 21.79% |
| VIRTU FINANCIAL BD LLC | $22K | 6.39% |
| INTERACTIVE BROKERS LLC | $12K | 3.40% |
| NORTHERN TRUST | $3K | 0.77% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.