TAEQ Fees and Costs — Trend Aggregation U.S. ETF
Data updated: 2021-09-28
The net expense ratio is 1.70% (2.24% before fee waivers). There are no sales loads or redemption fees. In fiscal 2021 the fund paid $449K in broker commissions, 0.9353% of average net assets.
TAEQ Fees and Expenses
Annual operating expenses and sales charges of TAEQ. Prospectus, as of September 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.54% |
| Gross expense ratio | 2.24% |
| Fee waiver | −0.54% |
| Net expense ratio | 1.70% |
| 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 |
TAEQ Costs Over Time
On $10,000 invested in TAEQ, assuming 5% a year before costs, total costs come to $1,595 over 5 years, cutting the return by 2.77% 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 1.70%) | $178 | $548 | $933 |
| Trading costs (broker commissions) | $98 | $301 | $513 |
| Lost growth on money paid in costs | $0 | $43 | $149 |
| Total costs | $277 | $891 | $1,595 |
| Value after costs | $10,223 | $10,685 | $11,167 |
| Impact on return, per year | 2.77% | 2.77% | 2.77% |
TAEQ 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): 0.9353%
- Total broker commissions: $449K
- Bought from dealers (principal trades, not a cost): $68.5M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TAEQ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $72K | 16.57% |
| CAPITAL INSTITUTIONAL SERVICES | $68K | 15.74% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $67K | 15.54% |
| WALLACHBETH CAPITAL LLC | $57K | 13.19% |
| NEEDHAM & COMPANY, LLC | $56K | 12.94% |
| WEEDEN & CO. | $46K | 10.51% |
| R.W.PRESSPRICH & CO. | $45K | 10.37% |
| TRADE STATION | $12K | 2.69% |
| HAMBRECTH & QUIST | $6K | 1.34% |
| CANACCORD GENUITY LLC | $5K | 1.10% |
TAEQ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BMO CAPITAL MARKETS CORP. | $43.2M | 63.07% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $22.8M | 33.33% |
| MISCHLER FINANCIAL GROUP, INC. | $1.1M | 1.64% |
| CITIGROUP GLOBAL MARKETS INC. | $686K | 1.00% |
| NEEDHAM & COMPANY, LLC | $305K | 0.45% |
| BTIG, LLC. | $226K | 0.33% |
| R.W.PRESSPRICH & CO. | $120K | 0.18% |
| CAPITAL INSTITUTIONAL SERVICES | $0 | 0.00% |
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.