TSEC Fees and Costs — Touchstone Securitized Income ETF
Data updated: 2026-08-26
The net expense ratio is 0.40%: a 0.34% management fee plus 0.34% other expenses, less a 0.29% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 45%.
TSEC Fees and Expenses
Annual operating expenses and sales charges of TSEC. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.34% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.29% |
| Net expense ratio | 0.40% |
| 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 |
TSEC Costs Over Time
On $10,000 invested in TSEC, assuming 5% a year before costs, total costs come to $253 over 5 years, cutting the return by 0.42% 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 0.40%) | $42 | $132 | $230 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $138 | $253 |
| Value after costs | $10,458 | $11,438 | $12,510 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
TSEC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $80.0M
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
TSEC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $14.4M | 23.19% |
| Wells Fargo Securities, LLC | $13.4M | 21.62% |
| MUFG Securities Americas Inc. | $7.0M | 11.31% |
| J.P. Morgan Securities LLC | $6.5M | 10.47% |
| Citigroup Global Markets Inc. | $5.1M | 8.21% |
| Brean Capital, LLC | $4.8M | 7.71% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $3.5M | 5.67% |
| BTIG, LLC | $2.8M | 4.51% |
| Deutsche Bank Securities Inc. | $2.3M | 3.65% |
| BNP Paribas Securities Corp. | $2.3M | 3.65% |
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.