VAMO Fees and Costs — Cambria Value and Momentum ETF
Data updated: 2026-09-28
The net expense ratio is 0.65%: a 0.59% management fee plus 0.06% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $35K in broker commissions, 0.0518% of average net assets, and portfolio turnover was 93%.
VAMO Fees and Expenses
Annual operating expenses and sales charges of VAMO. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.65% |
| Fee waiver | — |
| Net expense ratio | 0.65% |
| 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 |
VAMO Costs Over Time
On $10,000 invested in VAMO, assuming 5% a year before costs, total costs come to $442 over 5 years, cutting the return by 0.74% 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 0.65%) | $68 | $214 | $372 |
| Trading costs (broker commissions) | $5 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $242 | $442 |
| Value after costs | $10,426 | $11,334 | $12,321 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
VAMO Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0518%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 93%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $31K (0.046% of average net assets)
VAMO Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $23K | 67.16% |
| PERSHING LLC | $9K | 25.88% |
| INTERACTIVE BROKERS LLC | $2K | 6.96% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.