SECR Fees and Costs — NYLI MacKay Securitized Income ETF
Data updated: 2026-09-25
The net expense ratio is 0.28%: a 0.40% management fee plus 0.09% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $7K in broker commissions, 0.0042% of average net assets, and portfolio turnover was 70%.
SECR Fees and Expenses
Annual operating expenses and sales charges of SECR. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.49% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.28% |
| 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 |
SECR Costs Over Time
On $10,000 invested in SECR, assuming 5% a year before costs, total costs come to $180 over 5 years, cutting the return by 0.30% 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 0.28%) | $29 | $92 | $161 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $5 | $16 |
| Total costs | $30 | $98 | $180 |
| Value after costs | $10,470 | $11,478 | $12,582 |
| Impact on return, per year | 0.30% | 0.30% | 0.30% |
SECR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0042%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $217.2M
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $621K
- Net income from securities lending: $272 (0.000% of average net assets)
SECR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $7K | 100.00% |
SECR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $43.6M | 24.34% |
| BOFA SECURITIES, INC. | $38.4M | 21.40% |
| CitiGroup Global Markets Inc. | $18.7M | 10.42% |
| STONEX FINANCIAL INC. | $18.6M | 10.37% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $13.2M | 7.37% |
| Performance Trust Capital Partners LLC | $11.6M | 6.50% |
| BMO CAPITAL MARKETS CORP. | $11.5M | 6.40% |
| WELLS FARGO SECURITIES, LLC | $9.0M | 5.01% |
| ROBERT W BAIRD & CO. INC. | $8.3M | 4.64% |
| GOLDMAN SACHS & CO. LLC | $6.4M | 3.55% |
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.