ULTR Fees and Costs — IQ Ultra Short Duration ETF
Data updated: 2024-03-28
The net expense ratio is 0.25%: a 0.24% management fee plus 0.22% other expenses, less a 0.22% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $8K in broker commissions, 0.0093% of average net assets, and portfolio turnover was 340%.
ULTR Fees and Expenses
Annual operating expenses and sales charges of ULTR. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.24% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.47% |
| Fee waiver | −0.22% |
| 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 |
ULTR Costs Over Time
On $10,000 invested in ULTR, assuming 5% a year before costs, total costs come to $165 over 5 years, cutting the return by 0.27% 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) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $90 | $165 |
| Value after costs | $10,473 | $11,486 | $12,598 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
ULTR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0093%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $615.4M
- Portfolio turnover (prospectus): 340%
- Securities lending: none during the year
ULTR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $8K | 100.00% |
ULTR Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $116.8M | 21.81% |
| GOLDMAN SACHS & CO. LLC | $109.1M | 20.36% |
| WELLS FARGO SECURITIES, LLC | $64.4M | 12.02% |
| MORGAN STANLEY & CO. LLC | $61.6M | 11.50% |
| TD SECURITIES (USA) LLC | $44.5M | 8.31% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $36.5M | 6.81% |
| J.P. Morgan Securities LLC | $34.6M | 6.46% |
| CitiGroup Global Markets Inc. | $28.7M | 5.35% |
| BARCLAYS CAPITAL, INC. | $20.6M | 3.84% |
| SG AMERICAS SECURITIES, LLC | $19.0M | 3.54% |
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.