SCLZ Fees and Costs — Swan Enhanced Dividend Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.79%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0237% of average net assets, and portfolio turnover was 4%.
SCLZ Fees and Expenses
Annual operating expenses and sales charges of SCLZ. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.79% |
| Fee waiver | — |
| Net expense ratio | 0.79% |
| 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 |
SCLZ Costs Over Time
On $10,000 invested in SCLZ, assuming 5% a year before costs, total costs come to $511 over 5 years, cutting the return by 0.85% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $2 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $85 | $280 | $511 |
| Value after costs | $10,415 | $11,296 | $12,252 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
SCLZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0237%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $2.7M
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
SCLZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LASALLE ST. SECURITIES LLC | $3K | 80.81% |
| JANE STREET | $699 | 19.06% |
| GOLDMAN SACHS | $3 | 0.08% |
| STONEX FINANCIAL | $2 | 0.05% |
SCLZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $2.7M | 97.57% |
| JANE STREET | $67K | 2.43% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.