ZHOG Fees and Costs — F/m Opportunistic Income ETF
Data updated: 2026-07-28
The net expense ratio is 0.43%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $26.6M in broker commissions, 94.2785% of average net assets, and portfolio turnover was 136%.
ZHOG Fees and Expenses
Annual operating expenses and sales charges of ZHOG. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.43% |
| Fee waiver | — |
| Net expense ratio | 0.43% |
| 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 |
ZHOG Costs Over Time
On $10,000 invested in ZHOG, assuming 5% a year before costs, total costs come to $12,763 over 5 years, cutting the return by 99.44% 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 0.43%) | $45 | $48 | $48 |
| Trading costs (broker commissions) | $9,899 | $10,480 | $10,482 |
| Lost growth on money paid in costs | $0 | $1,047 | $2,233 |
| Total costs | $9,944 | $11,575 | $12,763 |
| Value after costs | $556 | $2 | $0 |
| Impact on return, per year | 99.44% | 99.44% | 99.44% |
ZHOG 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): 94.2785%
- Total broker commissions: $26.6M
- Bought from dealers (principal trades, not a cost): $46.7M
- Portfolio turnover (prospectus): 136%
- Securities on loan, average value: $809K
- Net income from securities lending: $4K (0.012% of average net assets)
ZHOG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH INC. | $16.3M | 61.36% |
| JANE STREET EXECUTION SERVICES | $7.5M | 28.18% |
| CITADEL | $1.7M | 6.45% |
| NATIONAL FINANCIAL SERVICE CORP. | $1.0M | 3.92% |
| TELSEY ADVISORY GROUP | $25K | 0.09% |
ZHOG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ALFA CAPITAL MARKETS INC. | $11.2M | 33.68% |
| NATIONAL FINANCIAL SERVICE CORP. | $9.4M | 28.30% |
| PERSHING LLC | $3.3M | 9.91% |
| MERRILL LYNCH INC. | $3.2M | 9.54% |
| SOUTHWEST EDGETRADE | $1.8M | 5.46% |
| BNY/MIZUHO SECURITIES USA INC. | $1.4M | 4.26% |
| MORGAN STANLEY & CO | $1.3M | 3.86% |
| JEFFERIES & COMPANY INC. | $1.1M | 3.39% |
| GOLDMAN SACHS & CO | $538K | 1.61% |
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.