USOY Fees and Costs — Defiance Oil Enhanced Options Income ETF
Data updated: 2026-07-27
The net expense ratio is 1.12%: a 0.99% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $41K in broker commissions, 0.5968% of average net assets, and portfolio turnover was 658%.
USOY Fees and Expenses
Annual operating expenses and sales charges of USOY. Prospectus, as of April 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 1.12% |
| Fee waiver | — |
| Net expense ratio | 1.12% |
| 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 |
USOY Costs Over Time
On $10,000 invested in USOY, assuming 5% a year before costs, total costs come to $1,059 over 5 years, cutting the return by 1.80% 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 1.12%) | $118 | $364 | $627 |
| Trading costs (broker commissions) | $63 | $194 | $334 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $180 | $586 | $1,059 |
| Value after costs | $10,320 | $10,990 | $11,704 |
| Impact on return, per year | 1.80% | 1.80% | 1.80% |
USOY Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.5968%
- Total broker commissions: $41K
- Bought from dealers (principal trades, not a cost): $13.0M
- Portfolio turnover (prospectus): 658%
- Securities lending: none during the year
USOY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $27K | 66.69% |
| OLD MISSION MARKETS LLC | $5K | 12.74% |
| SUSQUEHANNA FINANCIAL GROUP LLLP | $5K | 12.63% |
| STONEX FINANCIAL INC. | $2K | 6.13% |
| JANE STREET EXECUTION SERVICES LLC | $737 | 1.81% |
USOY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $13.0M | 100.00% |
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.