TUA Fees and Costs — Simplify Short Term Treasury Futures Strategy ETF
Data updated: 2026-09-11
The net expense ratio is 0.25%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5K in broker commissions, 0.0007% of average net assets, and portfolio turnover was 0%.
TUA Fees and Expenses
Annual operating expenses and sales charges of TUA. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.25% |
| Fee waiver | — |
| Net expense ratio | 0.25% |
| 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 |
TUA Costs Over Time
On $10,000 invested in TUA, assuming 5% a year before costs, total costs come to $159 over 5 years, cutting the return by 0.26% 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 0.25%) | $26 | $83 | $144 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $26 | $87 | $159 |
| Value after costs | $10,474 | $11,489 | $12,604 |
| Impact on return, per year | 0.26% | 0.26% | 0.26% |
TUA 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): 0.0007%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $2.2B
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
TUA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $3K | 55.34% |
| Wolverine Execution Services LLC | $2K | 35.92% |
| INTERACTIVE BROKERS, LLC | $447 | 8.73% |
TUA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Wolverine Execution Services, LLC | $769.6M | 35.60% |
| GOLDMAN SACHS & CO. LLC | $502.5M | 23.25% |
| JANE STREET EXECUTION SERVICES, LLC | $274.9M | 12.72% |
| BARCLAYS CAPITAL, INC. | $199.8M | 9.24% |
| MORGAN STANLEY & CO. LLC | $193.2M | 8.94% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $157.1M | 7.27% |
| STONEX FINANCIAL INC. | $56.5M | 2.61% |
| CitiGroup Global Markets Inc. | $4.0M | 0.18% |
| RBC CAPITAL MARKETS, LLC | $3.9M | 0.18% |
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.