TOT Fees and Costs — LionShares U.S. Equity Total Return ETF
Data updated: 2026-09-14
The net expense ratio is 0.07% (0.25% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $6K in broker commissions, 0.0779% of average net assets.
TOT Fees and Expenses
Annual operating expenses and sales charges of TOT. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.22% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.25% |
| Fee waiver | −0.18% |
| Net expense ratio | 0.07% |
| 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 |
TOT Costs Over Time
On $10,000 invested in TOT, assuming 5% a year before costs, total costs come to $94 over 5 years, cutting the return by 0.16% 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 0.07%) | $7 | $23 | $40 |
| Trading costs (broker commissions) | $8 | $26 | $45 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $51 | $94 |
| Value after costs | $10,484 | $11,525 | $12,669 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
TOT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0779%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TOT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $4K | 73.34% |
| GOLDMAN SACHS & CO. LLC | $2K | 26.66% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.