Entry fees, execution costs and financing claims can change the result even when the underlying price is unchanged.
·2 min read
For a fresh $1,000 SPYx Boost example at the vault’s 2.0× target, the 0.10% entry fee leaves $999 of junior capital and $999 of matched senior financing. At a flat price, the reference junior claim is therefore $999 rather than $1,000.
A full cash exit also charges the stated 0.30% cost on collateral sold. Reproduce the flat case in the calculator and inspect the cash-exit disclosure in Portfolio.
