SPIT Fees and Costs — F/m Emerald Special Situations ETF
Data updated: 2026-09-24
The net expense ratio is 0.90%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $13K in broker commissions, 0.0606% of average net assets, and portfolio turnover was 111%.
SPIT Fees and Expenses
Annual operating expenses and sales charges of SPIT. Prospectus, as of August 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
SPIT Costs Over Time
On $10,000 invested in SPIT, assuming 5% a year before costs, total costs come to $601 over 5 years, cutting the return by 1.01% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $330 | $601 |
| Value after costs | $10,399 | $11,246 | $12,161 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
SPIT 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): 0.0606%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $383K
- Portfolio turnover (prospectus): 111%
- Securities lending: none during the year
SPIT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH INC. | $12K | 96.25% |
| GOLDMAN SACHS & CO | $478 | 3.75% |
SPIT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO | $329K | 86.04% |
| STIFEL NICOLAUS & CO. INC. | $52K | 13.57% |
| MERRILL LYNCH INC. | $1K | 0.39% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.