SMOT Fees and Costs — VanEck Morningstar SMID Moat ETF
Data updated: 2026-08-26
The net expense ratio is 0.49%: a 0.45% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $131K in broker commissions, 0.0329% of average net assets, and portfolio turnover was 77%.
SMOT Fees and Expenses
Annual operating expenses and sales charges of SMOT. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.04% |
| Gross expense ratio | 0.49% |
| Fee waiver | — |
| 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 | No |
SMOT Costs Over Time
On $10,000 invested in SMOT, assuming 5% a year before costs, total costs come to $330 over 5 years, cutting the return by 0.55% 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 | $281 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $181 | $330 |
| Value after costs | $10,445 | $11,396 | $12,433 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
SMOT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0329%
- Total broker commissions: $131K
- Bought from dealers (principal trades, not a cost): $826.2M
- Portfolio turnover (prospectus): 77%
- Securities on loan, average value: $2.0M
- Net income from securities lending: —
SMOT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $38K | 28.88% |
| Citigroup Global Markets Inc. | $34K | 25.85% |
| Jefferies LLC | $28K | 21.80% |
| Morgan Stanley & Co. LLC | $27K | 20.44% |
| Goldman Sachs & Co. LLC | $2K | 1.55% |
| UBS Securities LLC | $1K | 0.98% |
| BofA Securities, Inc. | $654 | 0.50% |
SMOT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $826.2M | 100.00% |
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.