UTWO Fees and Costs — US Treasury 2 Year Note ETF
Data updated: 2026-07-28
The net expense ratio is 0.15%. There are no sales loads or redemption fees. Portfolio turnover was 1301%.
UTWO Fees and Expenses
Annual operating expenses and sales charges of UTWO. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| 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 |
UTWO Costs Over Time
On $10,000 invested in UTWO, assuming 5% a year before costs, total costs come to $95 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $95 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
UTWO 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 1301%
- Securities on loan, average value: $13.5M
- Net income from securities lending: $9K (0.003% of average net assets)
UTWO Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITADEL | $1.2B | 42.21% |
| MERRILL LYNCH INC. | $640.0M | 22.21% |
| HARRIS CORP. | $607.8M | 21.10% |
| GOLDMAN SACHS & CO | $394.6M | 13.70% |
| MIRAE | $22.7M | 0.79% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.