These
examples are intended to help you understand your ongoing operating expenses of
investing in the fund so you can compare these costs with the ongoing costs of
investing in other funds.
Understanding
fund expenses
As
a shareholder of a fund, you incur two types of costs:
■Transaction
costs, which may include
creation and redemption fees and brokerage charges.
■Ongoing operating
expenses, including
management fees, and other fund expenses.
We
are presenting only your ongoing operating expenses here.
Actual
expenses/actual returns
The
first line of each fund in the following table is intended to provide
information about a fund’s actual ongoing operating expenses, and is based on
the fund’s actual NAV return. It assumes an account value of $1,000.00 on May 1,
2022, with the same investment held until October 31, 2022.
Together
with the value of your account, you may use this information to estimate the
operating expenses that you paid over the period. Simply divide your account
value at October 31, 2022, by $1,000.00, then multiply it by the “expenses paid”
from the table. For example, for an account value of $8,600.00, the operating
expenses should be calculated as follows:
Hypothetical
example for comparison purposes
The
second line of each fund in the following table allows you to compare a fund’s
ongoing operating expenses with those of any other fund. It provides an example
of the fund’s hypothetical account values and hypothetical expenses based on the
fund’s actual expense ratio and an assumed 5% annualized return before expenses
(which is not the fund’s actual return). It assumes an account value of
$1,000.00 on May 1, 2022, with the same investment held until October 31, 2022.
Look in any other fund shareholder report to find its hypothetical example and
you will be able to compare these expenses. Please remember that these
hypothetical account values and expenses may not be used to estimate the actual
ending account balance or expenses you paid for the period.
Remember,
these examples do not include any transaction costs. A fund charges a
transaction fee per creation unit to those creating or redeeming creation units,
and those buying or selling shares in the secondary market will incur customary
brokerage commissions and charges. Therefore, these examples will not help you
to determine the relative total costs of owning different funds. If transaction
costs were included, your expenses would have been higher. See the prospectus
for details regarding transaction costs.
SHAREHOLDER
EXPENSE EXAMPLE CHART
|
Account value
on 5-1-2022 |
Ending value
on 10-31-2022 |
Expenses paid
during 10-31-20221
|
Annualized expense ratio
|
Multifactor Developed International ETF |
Actual
expenses/actual returns |
$1,000.00
|
$868.70 |
$1.84
|
0.39%
|
Hypothetical
example for comparison purposes |
1,000.00
|
1,023.20
|
1.99
|
0.39%
|
Multifactor Emerging Markets ETF |
Actual
expenses/actual returns |
$1,000.00
|
$817.60 |
$2.24
|
0.49%
|
Hypothetical
example for comparison purposes |
1,000.00
|
1,022.70
|
2.50
|
0.49%
|
Multifactor Large Cap ETF |
Actual
expenses/actual returns |
$1,000.00
|
$951.20 |
$1.43
|
0.29%
|
Hypothetical
example for comparison purposes |
1,000.00
|
1,023.70
|
1.48
|
0.29%
|
Multifactor Mid Cap ETF |
Actual
expenses/actual returns |
$1,000.00
|
$956.30 |
$2.02
|
0.41%
|
Hypothetical
example for comparison purposes |
1,000.00
|
1,023.10
|
2.09
|
0.41%
|