WBIF Fees and Costs — WBI BullBear Value 3000 ETF
Data updated: 2026-09-10
The net expense ratio is 1.65%: a 0.85% management fee plus 0.87% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $76K in broker commissions, 0.2894% of average net assets, and portfolio turnover was 690%.
WBIF Fees and Expenses
Annual operating expenses and sales charges of WBIF. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.87% |
| Gross expense ratio | 1.73% |
| Fee waiver | −0.08% |
| Net expense ratio | 1.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
WBIF Costs Over Time
On $10,000 invested in WBIF, assuming 5% a year before costs, total costs come to $1,191 over 5 years, cutting the return by 2.04% 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 1.65%) | $173 | $535 | $919 |
| Trading costs (broker commissions) | $30 | $94 | $161 |
| Lost growth on money paid in costs | $0 | $31 | $110 |
| Total costs | $204 | $661 | $1,191 |
| Value after costs | $10,296 | $10,916 | $11,572 |
| Impact on return, per year | 2.04% | 2.04% | 2.04% |
WBIF 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): 0.2894%
- Total broker commissions: $76K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 690%
- Securities on loan, average value: $3.0M
- Net income from securities lending: $5K (0.017% of average net assets)
WBIF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PUMA CAPITAL, LLC | $40K | 52.28% |
| MISCHLER FINANCIAL GROUP | $21K | 27.44% |
| WALL STREET MANAGEMENT CORPORATION | $15K | 20.28% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.