SPWO Fees and Costs — SP Funds S&P World (ex-US) ETF
Data updated: 2026-09-18
The net expense ratio is 0.55%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $39K in broker commissions, 0.0766% of average net assets, and portfolio turnover was 39%.
SPWO Fees and Expenses
Annual operating expenses and sales charges of SPWO. Prospectus, as of February 26, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.55% |
| Fee waiver | — |
| Net expense ratio | 0.55% |
| 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 |
SPWO Costs Over Time
On $10,000 invested in SPWO, assuming 5% a year before costs, total costs come to $395 over 5 years, cutting the return by 0.66% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $66 | $216 | $395 |
| Value after costs | $10,434 | $11,360 | $12,368 |
| Impact on return, per year | 0.66% | 0.66% | 0.66% |
SPWO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0766%
- Total broker commissions: $39K
- Bought from dealers (principal trades, not a cost): $27K
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
SPWO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Robert W. Baird & Co. Incorporated | $11K | 29.28% |
| Credit Agricole Securities (USA) Inc. | $5K | 13.90% |
| CLSA Americas LLC | $5K | 12.01% |
| Goldman Sachs & Co. LLC | $4K | 11.34% |
| CitiGroup Global Markets Inc. | $4K | 10.94% |
| Merrill Lynch Pierce Fenner & Smith Incorporated | $4K | 9.79% |
| Woodbury Financial Services Inc. | $3K | 6.81% |
| BTIG, LLC | $2K | 4.10% |
| Mirae Asset Securities (USA) Inc. | $552 | 1.43% |
| Scotia Capital (USA), Inc. | $155 | 0.40% |
SPWO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CitiGroup Global Markets Inc. | $27K | 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.