SSPY Fees and Costs — Stratified LargeCap Index ETF
Data updated: 2026-08-27
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8K in broker commissions, 0.0073% of average net assets, and portfolio turnover was 29%.
SSPY Fees and Expenses
Annual operating expenses and sales charges of SSPY. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
SSPY Costs Over Time
On $10,000 invested in SSPY, assuming 5% a year before costs, total costs come to $289 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $158 | $289 |
| Value after costs | $10,452 | $11,418 | $12,474 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
SSPY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0073%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $45.4M
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
SSPY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $7K | 88.25% |
| Wallachbeth Capital, LLC | $948 | 11.75% |
SSPY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $31.6M | 69.66% |
| Bofa Securities, Inc. | $11.8M | 25.93% |
| Virtu Americas LLC | $2.0M | 4.41% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.