VSLU Fees and Costs — Applied Finance Valuation Large Cap ETF
Data updated: 2026-08-25
The net expense ratio is 49.00%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $12K in broker commissions, 0.0042% of average net assets.
VSLU Fees and Expenses
Annual operating expenses and sales charges of VSLU. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 49.00% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 49.00% |
| Fee waiver | — |
| Net expense ratio | 49.00% |
| 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 |
VSLU Costs Over Time
On $10,000 invested in VSLU, assuming 5% a year before costs, total costs come to $12,323 over 5 years, cutting the return by 51.45% 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 49.00%) | $5,145 | $9,375 | $10,588 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $665 | $1,734 |
| Total costs | $5,145 | $10,041 | $12,323 |
| Value after costs | $5,355 | $1,535 | $440 |
| Impact on return, per year | 51.45% | 51.45% | 51.45% |
VSLU Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0042%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $224.0M
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
VSLU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $12K | 100.00% |
| BNY Mellon Capital Markets, LLC | $0 | 0.00% |
| Robert W. Baird & Co. Incorporated | $0 | 0.00% |
VSLU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $146.1M | 65.21% |
| BofA Securities, Inc. | $37.6M | 16.80% |
| Virtu Americas LLC | $37.2M | 16.60% |
| J.P. Morgan Securities LLC | $3.1M | 1.39% |
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.