SETM Fees and Costs — Sprott Critical Materials ETF
Data updated: 2026-08-20
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $43K in broker commissions, 0.0479% of average net assets, and portfolio turnover was 55%.
SETM Fees and Expenses
Annual operating expenses and sales charges of SETM. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| 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 |
SETM Costs Over Time
On $10,000 invested in SETM, assuming 5% a year before costs, total costs come to $439 over 5 years, cutting the return by 0.73% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $241 | $439 |
| Value after costs | $10,427 | $11,336 | $12,324 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
SETM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0479%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $173.4M
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $219.5M
- Net income from securities lending: $378K (0.421% of average net assets)
SETM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bank Of America Merrill Lynch | $34K | 79.49% |
| Mizuho Securities | $9K | 20.34% |
| Mischler Financial Group, Inc. | $54 | 0.13% |
| BTIG, LLC | $19 | 0.04% |
SETM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN DISTRIBUTION SERVICES, INC. | $101.2M | 61.96% |
| UBS SECURITIES LLC | $23.3M | 14.25% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $14.0M | 8.58% |
| JANE STREET CAPITAL, LLC | $13.8M | 8.43% |
| BOFA SECURITIES, INC. | $8.6M | 5.27% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $1.6M | 1.01% |
| GOLDMAN SACHS & CO. LLC | $809K | 0.50% |
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.