SDAG Fees and Costs — IQ Short Duration Enhanced Core Bond U.S. ETF
Data updated: 2020-09-28
The net expense ratio is 0.29% (0.32% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $6K in broker commissions, 0.0868% of average net assets, and portfolio turnover was 78%.
SDAG Fees and Expenses
Annual operating expenses and sales charges of SDAG. Prospectus, as of April 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.32% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.29% |
| 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 |
SDAG Costs Over Time
On $10,000 invested in SDAG, assuming 5% a year before costs, total costs come to $239 over 5 years, cutting the return by 0.40% 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) | $9 | $29 | $50 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $130 | $239 |
| Value after costs | $10,460 | $11,446 | $12,524 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
SDAG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0868%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $38.9M
- Portfolio turnover (prospectus): 78%
- Securities on loan, average value: $57K
- Net income from securities lending: $3K (0.035% of average net assets)
SDAG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $2K | 31.63% |
| J.P. Morgan Securities LLC | $2K | 30.43% |
| CitiGroup Global Markets Inc. | $1K | 15.53% |
| MISCHLER FINANCIAL GROUP, INC. | $539 | 8.36% |
| BOFA SECURITIES, INC. | $241 | 3.74% |
| Stifel, Nicolaus & Company, Incorporated | $220 | 3.41% |
| VIRTU FINANCIAL BD LLC | $176 | 2.73% |
| DEUTSCHE BANK SECURITIES INC. | $132 | 2.05% |
| WallachBeth Capital LLC | $71 | 1.10% |
| Jane Street Execution Services, LLC | $65 | 1.01% |
SDAG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $23.0M | 59.10% |
| BOFA SECURITIES, INC. | $11.6M | 29.73% |
| CitiGroup Global Markets Inc. | $4.3M | 11.16% |
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.