WDTE Fees and Costs — Defiance S&P 500 Enhanced Options & 0DTE Income ETF
Data updated: 2026-07-27
The net expense ratio is 1.03%: a 0.99% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $35K in broker commissions, 0.0333% of average net assets, and portfolio turnover was 4%.
WDTE Fees and Expenses
Annual operating expenses and sales charges of WDTE. Prospectus, as of December 17, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| 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 |
WDTE Costs Over Time
On $10,000 invested in WDTE, assuming 5% a year before costs, total costs come to $664 over 5 years, cutting the return by 1.12% 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 1.03%) | $108 | $337 | $584 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $365 | $664 |
| Value after costs | $10,388 | $11,211 | $12,099 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
WDTE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0333%
- Total broker commissions: $35K
- Bought from dealers (principal trades, not a cost): $159.7M
- Portfolio turnover (prospectus): 4%
- Securities lending: none during the year
WDTE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $15K | 42.83% |
| STONEX FINANCIAL INC. | $8K | 22.08% |
| OLD MISSION MARKETS LLC | $6K | 17.16% |
| CITADEL SECURITIES LLC | $3K | 9.16% |
| JANE STREET EXECUTION SERVICES LLC | $3K | 8.69% |
| X-CHANGE FINANCIAL ACCESS LLC | $32 | 0.09% |
WDTE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. BANCORP INVESTMENTS INC. | $141.9M | 88.87% |
| STONEX FINANCIAL INC. | $16.5M | 10.34% |
| CANTOR FITZGERALD & CO. | $1.3M | 0.79% |
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.