SBIO Fees and Costs — ALPS Medical Breakthroughs ETF
Data updated: 2026-07-29
The net expense ratio is 0.50%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $57K in broker commissions, 0.0620% of average net assets, and portfolio turnover was 58%.
SBIO Fees and Expenses
Annual operating expenses and sales charges of SBIO. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.50% |
| Fee waiver | — |
| Net expense ratio | 0.50% |
| 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 |
SBIO Costs Over Time
On $10,000 invested in SBIO, assuming 5% a year before costs, total costs come to $355 over 5 years, cutting the return by 0.59% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $7 | $20 | $36 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $194 | $355 |
| Value after costs | $10,441 | $11,382 | $12,408 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
SBIO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0620%
- Total broker commissions: $57K
- Bought from dealers (principal trades, not a cost): $71.9M
- Portfolio turnover (prospectus): 58%
- Securities on loan, average value: $20.7M
- Net income from securities lending: $150K (0.164% of average net assets)
SBIO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen Prime Services LLC | $57K | 99.99% |
| MISCHLER FINANCIAL GROUP, INC. | $6 | 0.01% |
SBIO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $18.4M | 25.56% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $17.0M | 23.60% |
| JANE STREET CAPITAL, LLC | $16.1M | 22.47% |
| GOLDMAN SACHS & CO. LLC | $16.1M | 22.38% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $4.3M | 5.99% |
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.