SQLV Fees and Costs — Royce Quant Small-Cap Quality Value ETF
Data updated: 2026-08-27
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $21K in broker commissions, 0.0846% of average net assets, and portfolio turnover was 57%.
SQLV Fees and Expenses
Annual operating expenses and sales charges of SQLV. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
SQLV Costs Over Time
On $10,000 invested in SQLV, assuming 5% a year before costs, total costs come to $431 over 5 years, cutting the return by 0.72% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $9 | $28 | $48 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $72 | $236 | $431 |
| Value after costs | $10,428 | $11,340 | $12,332 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
SQLV Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0846%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): $8.3M
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
SQLV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $21K | 100.00% |
SQLV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL CLEARING LLC | $4.2M | 50.36% |
| BOFA SECURITIES, INC. | $2.2M | 26.08% |
| RBC CAPITAL MARKETS, LLC | $2.0M | 23.56% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.