TPMN Fees and Costs — Timothy Plan Market Neutral ETF
Data updated: 2025-08-28
The net expense ratio is 0.65%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $15K in broker commissions, 0.0385% of average net assets, and portfolio turnover was 35%.
TPMN Fees and Expenses
Annual operating expenses and sales charges of TPMN. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TPMN Costs Over Time
On $10,000 invested in TPMN, assuming 5% a year before costs, total costs come to $433 over 5 years, cutting the return by 0.72% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $72 | $237 | $433 |
| Value after costs | $10,428 | $11,339 | $12,329 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
TPMN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0385%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $16.5M
- Portfolio turnover (prospectus): 35%
- Securities lending: none during the year
TPMN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $6K | 39.13% |
| Goldman Sachs & Co. LLC | $6K | 37.73% |
| Citigroup Global Markets Inc. | $2K | 10.35% |
| Jefferies LLC | $745 | 4.90% |
| Susquehanna Securities | $614 | 4.04% |
| HSBC Securities (USA) Inc. | $310 | 2.04% |
| UBS Securities LLC | $147 | 0.97% |
| J.P. Morgan Securities LLC | $127 | 0.84% |
| BofA Securities, Inc. | $0 | 0.00% |
TPMN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7.1M | 42.77% |
| Goldman Sachs & Co. LLC | $7.1M | 42.74% |
| Virtu Americas LLC | $2.4M | 14.49% |
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.