VOTE Fees and Costs — TCW Transform 500 ETF
Data updated: 2026-09-22
The net expense ratio is 0.05%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8K in broker commissions, 0.0010% of average net assets, and portfolio turnover was 3%.
VOTE Fees and Expenses
Annual operating expenses and sales charges of VOTE. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.05% |
| Fee waiver | — |
| Net expense ratio | 0.05% |
| 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 |
VOTE Costs Over Time
On $10,000 invested in VOTE, assuming 5% a year before costs, total costs come to $33 over 5 years, cutting the return by 0.05% 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 0.05%) | $5 | $17 | $29 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $3 |
| Total costs | $5 | $18 | $33 |
| Value after costs | $10,495 | $11,559 | $12,730 |
| Impact on return, per year | 0.05% | 0.05% | 0.05% |
VOTE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0010%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $496K
- Portfolio turnover (prospectus): 3%
- Securities on loan, average value: $343K
- Net income from securities lending: $238 (0.000% of average net assets)
VOTE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4K | 54.19% |
| FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC | $3K | 45.78% |
| Goldman Sachs & Co, LLC | $3 | 0.03% |
VOTE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| FLOW TRADERS U.S. INSTITUTIONAL TRADING LLC | $496K | 100.00% |
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.