TDSB Fees and Costs — ETC Cabana Target Beta ETF
Data updated: 2026-09-28
The net expense ratio is 0.91% (1.02% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1K in broker commissions, 0.0024% of average net assets, and portfolio turnover was 136%.
TDSB Fees and Expenses
Annual operating expenses and sales charges of TDSB. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.02% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.91% |
| 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 |
TDSB Costs Over Time
On $10,000 invested in TDSB, assuming 5% a year before costs, total costs come to $572 over 5 years, cutting the return by 0.96% 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 0.91%) | $96 | $298 | $518 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $314 | $572 |
| Value after costs | $10,404 | $11,262 | $12,191 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
TDSB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0024%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $188.4M
- Portfolio turnover (prospectus): 136%
- Securities on loan, average value: $2.6M
- Net income from securities lending: $80K (0.129% of average net assets)
TDSB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $1K | 94.98% |
| BTIG LLC | $52 | 3.46% |
| Mischler Financial Group, Inc. | $23 | 1.55% |
TDSB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $61.2M | 32.46% |
| Virtu Americas LLC | $51.8M | 27.51% |
| Jane Street Execution Services, LLC | $24.8M | 13.17% |
| Susquehanna Financial Group LLLP | $18.4M | 9.77% |
| Goldman Sachs & Co. LLC | $18.1M | 9.61% |
| Bofa Securities, Inc. | $14.1M | 7.48% |
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.