UYLD Fees and Costs — Angel Oak UltraShort Income ETF
Data updated: 2026-09-28
The net expense ratio is 0.35%: a 0.55% management fee plus 0.01% other expenses, less a 0.21% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $9K in broker commissions, 0.0009% of average net assets, and portfolio turnover was 87%.
UYLD Fees and Expenses
Annual operating expenses and sales charges of UYLD. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.35% |
| 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 |
UYLD Costs Over Time
On $10,000 invested in UYLD, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% 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 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,540 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
UYLD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0009%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $2.1B
- Portfolio turnover (prospectus): 87%
- Securities lending: none during the year
UYLD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| R.J. O'BRIEN SECURITIES LLC | $9K | 100.00% |
UYLD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $213.1M | 16.79% |
| GOLDMAN SACHS & CO. LLC | $172.8M | 13.62% |
| J.P. MORGAN SECURITIES LLC | $159.7M | 12.59% |
| WELLS FARGO SECURITIES LLC | $143.5M | 11.30% |
| BOFA SECURITIES INC. | $141.5M | 11.15% |
| BMO NESBITT BURNS SECURITIES LTD. | $114.8M | 9.05% |
| DEUTSCHE BANK SECURITIES INC. | $102.8M | 8.10% |
| NOMURA SECURITIES INTERNATIONAL INC. | $78.0M | 6.15% |
| PNC WEALTH MANAGEMENT LLC | $77.3M | 6.09% |
| CITADEL SECURITIES LLC | $65.5M | 5.16% |
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.