VLU Fees and Costs — State Street(R) SPDR(R) S&P(R) 1500 Value Tilt ETF
Data updated: 2026-09-11
The net expense ratio is 0.12%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $19K in broker commissions, 0.0033% of average net assets, and portfolio turnover was 17%.
VLU Fees and Expenses
Annual operating expenses and sales charges of VLU. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.12% |
| Fee waiver | — |
| Net expense ratio | 0.12% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VLU Costs Over Time
On $10,000 invested in VLU, assuming 5% a year before costs, total costs come to $78 over 5 years, cutting the return by 0.13% 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 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $43 | $78 |
| Value after costs | $10,487 | $11,533 | $12,684 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
VLU Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0033%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $43.6M
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $5.5M
- Net income from securities lending: $14K (0.002% of average net assets)
VLU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $18K | 93.24% |
| Morgan Stanley & Co. LLC | $492 | 2.58% |
| Barclays Capital Inc. | $264 | 1.38% |
| Fidelity Brokerage Services LLC | $159 | 0.83% |
| J.P. Morgan Securities LLC | $106 | 0.56% |
| BofA Securities, Inc. | $79 | 0.41% |
| UBS Securities LLC | $72 | 0.38% |
| Virtu Americas LLC | $47 | 0.25% |
| Citigroup Global Markets Inc. | $38 | 0.20% |
| Nomura Securities International, Inc. | $35 | 0.18% |
VLU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $43.5M | 99.81% |
| Morgan Stanley & Co. LLC | $46K | 0.11% |
| J.P. Morgan Securities LLC | $38K | 0.09% |
| Citadel Securities LLC | $64 | 0.00% |
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.