SPQ Fees and Costs — Simplify US Equity PLUS QIS ETF
Data updated: 2025-05-23
The net expense ratio is 0.57%: a 0.50% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1K in broker commissions, 0.0316% of average net assets, and portfolio turnover was 88%.
SPQ Fees and Expenses
Annual operating expenses and sales charges of SPQ. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.57% |
| Fee waiver | — |
| Net expense ratio | 0.57% |
| 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 |
SPQ Costs Over Time
On $10,000 invested in SPQ, assuming 5% a year before costs, total costs come to $379 over 5 years, cutting the return by 0.63% 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 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $208 | $379 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
SPQ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0316%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $354K
- Portfolio turnover (prospectus): 88%
- Securities lending: none during the year
SPQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $953 | 93.16% |
| WallachBeth Capital LLC | $35 | 3.42% |
| INTERACTIVE BROKERS, LLC | $27 | 2.64% |
| VIRTU AMERICAS LLC | $6 | 0.59% |
| Wolverine Execution Services LLC | $2 | 0.20% |
SPQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $207K | 58.43% |
| STONEX FINANCIAL INC. | $147K | 41.57% |
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.