ZCAR Fees and Costs — Defiance Next Gen SPAC Derived ETF
Data updated: 2022-08-26
The net expense ratio is 0.45%. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $119K in broker commissions, 0.2114% of average net assets, and portfolio turnover was 149%.
ZCAR Fees and Expenses
Annual operating expenses and sales charges of ZCAR. Prospectus, as of April 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.45% |
| Fee waiver | — |
| Net expense ratio | 0.45% |
| 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 |
ZCAR Costs Over Time
On $10,000 invested in ZCAR, assuming 5% a year before costs, total costs come to $417 over 5 years, cutting the return by 0.69% 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 0.45%) | $47 | $148 | $257 |
| Trading costs (broker commissions) | $22 | $69 | $121 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $228 | $417 |
| Value after costs | $10,431 | $11,348 | $12,346 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
ZCAR Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.2114%
- Total broker commissions: $119K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 149%
- Securities lending: none during the year
ZCAR Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES, LLC | $59K | 49.79% |
| VIRTU AMERICAS LLC | $50K | 41.69% |
| VIRTU FINANCIAL CAPITAL MARKETS LLC | $10K | 8.52% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.