UTRN Fees and Costs — Vesper U.S. Large Cap Short-Term Reversal Strategy ETF
Data updated: 2025-04-28
The net expense ratio is 0.75%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $165K in broker commissions, 0.5728% of average net assets, and portfolio turnover was 4697%.
UTRN Fees and Expenses
Annual operating expenses and sales charges of UTRN. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | — |
| Fee waiver | — |
| Net expense ratio | 0.75% |
| 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 |
UTRN Costs Over Time
On $10,000 invested in UTRN, assuming 5% a year before costs, total costs come to $822 over 5 years, cutting the return by 1.39% 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 0.75%) | $79 | $245 | $423 |
| Trading costs (broker commissions) | $60 | $187 | $323 |
| Lost growth on money paid in costs | $0 | $21 | $76 |
| Total costs | $139 | $453 | $822 |
| Value after costs | $10,361 | $11,123 | $11,941 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
UTRN 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): 0.5728%
- Total broker commissions: $165K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 4697%
- Securities lending: none during the year
UTRN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG | $58K | 35.02% |
| JANE STREET EXECUTION SERVICES | $57K | 34.39% |
| MISCHLER FINANCIAL | $50K | 30.59% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.