Expense Ratio History

CEFS expense ratio history

Saba Closed-End Funds ETF

Fund company
Exchange Listed
Type
ETF

2.61%

In basis points
261 basis points
Yearly cost per $10,000
$261
Prospectus dated
30 March 2026, filed with the SEC; rounded to 0.01%
Last change
Cut from 4.29% on 30 March 2026

Fee over time

CEFS expense ratio: 2.62% until 1 Apr 2020, then 4.48%; 4.48% until 1 Apr 2021, then 3.80%; 3.80% until 1 Apr 2022, then 2.90%; 2.90% until 1 Apr 2023, then 2.42%; 2.42% until 29 Mar 2024, then 5.81%; 5.81% until 28 Mar 2025, then 4.29%; 4.29% until 30 Mar 2026, then 2.61%; read at 2.61% on 30 Mar 2026.0.00%2.00%4.00%6.00%8.00%Mar 2018Aug 2019Jan 2021Jun 2022Nov 2023Apr 20252.62% before2.61% from 30 Mar 2026
CEFS expense ratio: 2.62% until 1 Apr 2020, then 4.48%; 4.48% until 1 Apr 2021, then 3.80%; 3.80% until 1 Apr 2022, then 2.90%; 2.90% until 1 Apr 2023, then 2.42%; 2.42% until 29 Mar 2024, then 5.81%; 5.81% until 28 Mar 2025, then 4.29%; 4.29% until 30 Mar 2026, then 2.61%; read at 2.61% on 30 Mar 2026.0.00%2.00%4.00%6.00%8.00%Mar 2018Dec 2020Sep 20232.62% before2.61% from 30 Mar 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Every figure we've recorded

DateFeeWhat happened
30 Mar 2026 2.61% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-03-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
30 Mar 2026 2.61% Cut from 4.29% to 2.61%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-03-27
2 Apr 2025 4.29% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-04-02 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
28 Mar 2025 4.29% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-03-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Mar 2025 4.29% Cut from 5.81% to 4.29%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-03-26
29 Mar 2024 5.81% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-03-29 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
29 Mar 2024 5.81% Raised from 2.42% to 5.81%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-03-26
1 Apr 2023 2.42% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-04-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Apr 2023 2.42% Cut from 2.90% to 2.42%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-03-31
1 Apr 2022 2.90% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-04-01 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
1 Apr 2022 2.90% Cut from 3.80% to 2.90%Prospectus date; the new figure appears in this filingSource: Prospectus (form 497) filed with the SEC on 2022-04-06
1 Apr 2021 3.80% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-04-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Apr 2021 3.80% Cut from 4.48% to 3.80%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2021-03-31
1 Apr 2020 4.48% In the prospectusTotal annual fund operating expenses in the prospectus dated 2020-04-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Apr 2020 4.48% Raised from 2.62% to 4.48%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2020-04-16
30 Mar 2018 2.62% In the prospectusTotal annual fund operating expenses in the prospectus dated 2018-03-30 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 2.61% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$2,973 in fees over 10 years

After fees, $10,000 grows to $12,584.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$268
3 years$821
5 years$1,401
10 years$2,973

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 9 prospectuses for this share class since 2018. Each one is listed above with a link to the filing.

How we read fees

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