WAR Fees and Costs — U.S. Global Technology and Aerospace & Defense ETF
Data updated: 2026-08-27
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $27K in broker commissions, 0.4286% of average net assets, and portfolio turnover was 394%.
WAR Fees and Expenses
Annual operating expenses and sales charges of WAR. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.60% |
| Fee waiver | — |
| Net expense ratio | 0.60% |
| 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 |
WAR Costs Over Time
On $10,000 invested in WAR, assuming 5% a year before costs, total costs come to $643 over 5 years, cutting the return by 1.08% 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 0.60%) | $63 | $197 | $341 |
| Trading costs (broker commissions) | $45 | $140 | $243 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $354 | $643 |
| Value after costs | $10,392 | $11,223 | $12,120 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
WAR 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): 0.4286%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 394%
- Securities on loan, average value: $281K
- Net income from securities lending: $496 (0.008% of average net assets)
WAR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS ASSET MANAGEMENT (US) INC. | $12K | 45.24% |
| CITADEL SECURITIES LLC | $5K | 19.48% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $5K | 18.05% |
| UBS SECURITIES LLC | $2K | 8.56% |
| GOLDMAN SACHS & CO. LLC | $1K | 4.50% |
| CANACCORD GENUITY LLC | $924 | 3.38% |
| PERSHING LLC | $129 | 0.47% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $83 | 0.30% |
| SEAPORT GLOBAL SECURITIES LLC | $7 | 0.03% |
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.