SECT Fees and Costs — Main Sector Rotation ETF
Data updated: 2026-09-28
The net expense ratio is 0.69% (0.73% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $298K in broker commissions, 0.0145% of average net assets, and portfolio turnover was 23%.
SECT Fees and Expenses
Annual operating expenses and sales charges of SECT. Prospectus, as of April 6, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.73% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.69% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SECT Costs Over Time
On $10,000 invested in SECT, assuming 5% a year before costs, total costs come to $443 over 5 years, cutting the return by 0.74% 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 0.69%) | $72 | $227 | $394 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $11 | $41 |
| Total costs | $74 | $243 | $443 |
| Value after costs | $10,426 | $11,333 | $12,320 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
SECT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0145%
- Total broker commissions: $298K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $190.1M
- Net income from securities lending: $153K (0.007% of average net assets)
SECT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTUS Americas LLC | $282K | 91.03% |
| PERSHING | $15K | 4.85% |
| INTERACTIVE BROKERS | $13K | 4.11% |
SECT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTUS Americas LLC | $940.4M | 75.67% |
| BANK OF AMERICA MERRILL LYNCH | $184.0M | 14.80% |
| GOLDMAN SACHS | $101.1M | 8.14% |
| JANE STREET | $17.2M | 1.39% |
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.