THCX Fees and Costs — The Cannabis ETF
Data updated: 2023-01-23
The net expense ratio is 0.75% (0.95% before fee waivers). There are no sales loads or redemption fees. In fiscal 2022 the fund paid $993K in broker commissions, 0.8314% of average net assets, and portfolio turnover was 54%.
THCX Fees and Expenses
Annual operating expenses and sales charges of THCX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.75% |
| 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 | No |
THCX Costs Over Time
On $10,000 invested in THCX, assuming 5% a year before costs, total costs come to $978 over 5 years, cutting the return by 1.66% 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 0.75%) | $79 | $244 | $421 |
| Trading costs (broker commissions) | $87 | $271 | $467 |
| Lost growth on money paid in costs | $0 | $26 | $90 |
| Total costs | $166 | $541 | $978 |
| Value after costs | $10,334 | $11,036 | $11,785 |
| Impact on return, per year | 1.66% | 1.66% | 1.66% |
THCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.8314%
- Total broker commissions: $993K
- Bought from dealers (principal trades, not a cost): $8.7M
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $2.3M
- Net income from securities lending: $422K (0.354% of average net assets)
THCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen & Co. | $751K | 75.58% |
| BTIG Primer Brokerage LLC | $176K | 17.77% |
| GTS Securities, LLC | $19K | 1.89% |
| Wallachbeth Capital LLC | $17K | 1.73% |
| ClearStreet LLC | $16K | 1.65% |
| Mischler Financial Group, Inc. | $14K | 1.37% |
THCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cowen & Co. | $8.7M | 100.00% |
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.