ZMLP Fees and Costs — Direxion Zacks MLP High Income Index Shares
Data updated: 2020-09-25
The net expense ratio is 0.81%. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $50K in broker commissions, 0.0965% of average net assets, and portfolio turnover was 120%.
ZMLP Fees and Expenses
Annual operating expenses and sales charges of ZMLP. Prospectus, as of October 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.81% |
| Fee waiver | — |
| Net expense ratio | 0.81% |
| 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 |
ZMLP Costs Over Time
On $10,000 invested in ZMLP, assuming 5% a year before costs, total costs come to $568 over 5 years, cutting the return by 0.95% 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 0.81%) | $85 | $266 | $461 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $312 | $568 |
| Value after costs | $10,405 | $11,264 | $12,195 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
ZMLP Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0965%
- Total broker commissions: $50K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 120%
- Securities on loan, average value: $9.9M
- Net income from securities lending: $369K (0.712% of average net assets)
ZMLP Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $44K | 88.67% |
| Citigroup Global Markets Inc. | $6K | 11.33% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.