TWIO Fees and Costs — Trajan Wealth Income Opportunities ETF
Data updated: 2024-12-11
The net expense ratio is 0.85%: a 0.55% management fee plus 0.62% other expenses, less a 0.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $19K in broker commissions, 0.0570% of average net assets, and portfolio turnover was 10%.
TWIO Fees and Expenses
Annual operating expenses and sales charges of TWIO. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.62% |
| Gross expense ratio | 1.17% |
| Fee waiver | −0.32% |
| Net expense ratio | 0.85% |
| 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 |
TWIO Costs Over Time
On $10,000 invested in TWIO, assuming 5% a year before costs, total costs come to $568 over 5 years, cutting the return by 0.95% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $6 | $19 | $32 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $312 | $568 |
| Value after costs | $10,405 | $11,264 | $12,194 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
TWIO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0570%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $54.1M
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
TWIO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $19K | 100.00% |
TWIO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UMB Bank, n.a. | $37.9M | 70.13% |
| Stifel, Nicolaus & Company, Inc. | $7.5M | 13.78% |
| Performance Trust Capital Partners, LLC | $3.9M | 7.28% |
| FHN Financial Securities Corp | $1.8M | 3.32% |
| Cantor Fitzgerald & Co. | $1.7M | 3.20% |
| Raymond James Financial Services, Inc. | $495K | 0.92% |
| Marketaxess Corporation | $464K | 0.86% |
| Merrill Lynch Professional Clearing Corp. | $288K | 0.53% |
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.