SPCL Fees and Costs — Defiance Pure Space Daily 2X Strategy ETF
Data updated: 2026-09-28
The net expense ratio is 1.29%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $318 in broker commissions, 0.0245% of average net assets, and portfolio turnover was 0%.
SPCL Fees and Expenses
Annual operating expenses and sales charges of SPCL. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.29% |
| Fee waiver | — |
| Net expense ratio | 1.29% |
| 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 |
SPCL Costs Over Time
On $10,000 invested in SPCL, assuming 5% a year before costs, total costs come to $817 over 5 years, cutting the return by 1.38% 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 1.29%) | $135 | $421 | $728 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $451 | $817 |
| Value after costs | $10,362 | $11,126 | $11,946 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
SPCL 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): 0.0245%
- Total broker commissions: $318
- Bought from dealers (principal trades, not a cost): $379K
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
SPCL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MAREX CAPITAL MARKETS INC. | $318 | 100.00% |
SPCL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL INC. | $215K | 56.83% |
| J.P. MORGAN SECURITIES LLC | $164K | 43.17% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.