SFLO Fees and Costs — VictoryShares Small Cap Free Cash Flow ETF
Data updated: 2026-09-11
The net expense ratio is 0.49%: a 0.45% management fee plus 0.11% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.2M in broker commissions, 0.2775% of average net assets, and portfolio turnover was 125%.
SFLO Fees and Expenses
Annual operating expenses and sales charges of SFLO. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.11% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.49% |
| 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 | Yes |
SFLO Costs Over Time
On $10,000 invested in SFLO, assuming 5% a year before costs, total costs come to $482 over 5 years, cutting the return by 0.81% 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 0.49%) | $51 | $161 | $280 |
| Trading costs (broker commissions) | $29 | $91 | $158 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $81 | $265 | $482 |
| Value after costs | $10,419 | $11,312 | $12,281 |
| Impact on return, per year | 0.81% | 0.81% | 0.81% |
SFLO 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): 0.2775%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $913.8M
- Portfolio turnover (prospectus): 125%
- Securities on loan, average value: $18.6M
- Net income from securities lending: $201K (0.045% of average net assets)
SFLO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Susquehanna Securities | $544K | 44.42% |
| UBS Securities LLC | $396K | 32.32% |
| Jane Street Capital, LLC | $265K | 21.64% |
| Amerivet Securities, Inc. | $6K | 0.51% |
| Academy Securities Inc. | $6K | 0.48% |
| Citigroup Global Markets Inc. | $3K | 0.26% |
| HSBC Securities (USA) Inc. | $2K | 0.14% |
| J.P. Morgan Securities LLC | $1K | 0.10% |
| RBC Capital Markets, LLC | $777 | 0.06% |
| Goldman Sachs & Co. LLC | $753 | 0.06% |
SFLO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $804.9M | 88.08% |
| Jane Street Capital, LLC | $54.9M | 6.01% |
| RBC Capital Markets, LLC | $28.8M | 3.15% |
| Goldman Sachs & Co. LLC | $15.4M | 1.69% |
| Virtu Americas LLC | $8.4M | 0.92% |
| Susquehanna Securities | $716K | 0.08% |
| J.P. Morgan Securities LLC | $336K | 0.04% |
| UBS Securities LLC | $290K | 0.03% |
| Amerivet Securities, Inc. | $6K | 0.00% |
| HSBC Securities (USA) Inc. | $828 | 0.00% |
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.