WBIL Fees and Costs — WBI BullBear Quality 3000 ETF
Data updated: 2026-09-10
The net expense ratio is 1.55%: a 0.85% management fee plus 0.73% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $80K in broker commissions, 0.2607% of average net assets, and portfolio turnover was 760%.
WBIL Fees and Expenses
Annual operating expenses and sales charges of WBIL. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.73% |
| Gross expense ratio | 1.59% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.55% |
| 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 |
WBIL Costs Over Time
On $10,000 invested in WBIL, assuming 5% a year before costs, total costs come to $1,114 over 5 years, cutting the return by 1.90% 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 1.55%) | $163 | $504 | $866 |
| Trading costs (broker commissions) | $27 | $85 | $146 |
| Lost growth on money paid in costs | $0 | $29 | $103 |
| Total costs | $190 | $618 | $1,114 |
| Value after costs | $10,310 | $10,959 | $11,648 |
| Impact on return, per year | 1.90% | 1.90% | 1.90% |
WBIL 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): 0.2607%
- Total broker commissions: $80K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 760%
- Securities on loan, average value: $3.4M
- Net income from securities lending: $5K (0.017% of average net assets)
WBIL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PUMA CAPITAL, LLC | $39K | 49.11% |
| WALL STREET MANAGEMENT CORPORATION | $22K | 27.68% |
| MISCHLER FINANCIAL GROUP | $19K | 23.21% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.