SPXZ Fees and Costs — Morgan Creek - Exos SPAC Originated ETF
Data updated: 2022-08-26
The net expense ratio is 1.00%. There are no sales loads or redemption fees. Portfolio turnover was 165%.
SPXZ Fees and Expenses
Annual operating expenses and sales charges of SPXZ. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| 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 |
SPXZ Costs Over Time
On $10,000 invested in SPXZ, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 1.00%) | $105 | $328 | $568 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
SPXZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $75.2M
- Portfolio turnover (prospectus): 165%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $129K (0.540% of average net assets)
SPXZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $74.9M | 99.60% |
| JEFFERIES LLC | $300K | 0.40% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.