TADS Fees and Costs — Trend Aggregation Dividend Stock ETF
Data updated: 2022-02-28
The net expense ratio is 1.68% (2.29% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $374K in broker commissions, 0.9828% of average net assets.
TADS Fees and Expenses
Annual operating expenses and sales charges of TADS. Prospectus, as of September 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.61% |
| Gross expense ratio | 2.29% |
| Fee waiver | −0.61% |
| Net expense ratio | 1.68% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TADS Costs Over Time
On $10,000 invested in TADS, assuming 5% a year before costs, total costs come to $1,611 over 5 years, cutting the return by 2.80% 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 1.68%) | $176 | $541 | $922 |
| Trading costs (broker commissions) | $103 | $316 | $539 |
| Lost growth on money paid in costs | $0 | $43 | $150 |
| Total costs | $280 | $900 | $1,611 |
| Value after costs | $10,220 | $10,676 | $11,152 |
| Impact on return, per year | 2.80% | 2.80% | 2.80% |
TADS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.9828%
- Total broker commissions: $374K
- Bought from dealers (principal trades, not a cost): $59.2M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TADS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $68K | 19.38% |
| R.W.PRESSPRICH & CO. | $66K | 18.74% |
| CAPITAL INSTITUTIONAL SERVICES | $51K | 14.52% |
| WALLACHBETH CAPITAL LLC | $44K | 12.53% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $41K | 11.57% |
| NEEDHAM & COMPANY, LLC | $25K | 7.08% |
| WEEDEN & CO. | $23K | 6.51% |
| WEDBUSH SECURITIES | $15K | 4.17% |
| HAMBRECTH & QUIST | $12K | 3.40% |
| TRADE STATION | $7K | 2.10% |
TADS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO CAPITAL MARKETS CORP. | $43.0M | 72.58% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $15.6M | 26.28% |
| MISCHLER FINANCIAL GROUP, INC. | $307K | 0.52% |
| R.W.PRESSPRICH & CO. | $216K | 0.36% |
| NEEDHAM & COMPANY, LLC | $151K | 0.25% |
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.