SPRX Fees and Costs — Spear Alpha ETF
Data updated: 2026-09-09
The net expense ratio is 0.75%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $412K in broker commissions, 0.2811% of average net assets, and portfolio turnover was 148%.
SPRX Fees and Expenses
Annual operating expenses and sales charges of SPRX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.75% |
| Fee waiver | — |
| Net expense ratio | 0.75% |
| 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 |
SPRX Costs Over Time
On $10,000 invested in SPRX, assuming 5% a year before costs, total costs come to $645 over 5 years, cutting the return by 1.08% 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 0.75%) | $79 | $246 | $426 |
| Trading costs (broker commissions) | $30 | $92 | $160 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $354 | $645 |
| Value after costs | $10,392 | $11,222 | $12,118 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
SPRX 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): 0.2811%
- Total broker commissions: $412K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 148%
- Securities lending: none during the year
SPRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP INC. | $378K | 91.85% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $22K | 5.44% |
| BROADCORT CAPITAL CORP. | $6K | 1.49% |
| BOFA SECURITIES INC. | $5K | 1.22% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.