v3.26.1
Annual Fund Operating Expenses
Aug. 14, 2026
Leverage Shares 2X Long DELL Daily ETF | Leverage Shares 2X Long DELL Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [1]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [2]
Expenses (as a percentage of Assets) 0.99% [3]
Leverage Shares 2X Long NOW Daily ETF | Leverage Shares 2X Long NOW Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [4]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [5]
Expenses (as a percentage of Assets) 0.99% [6]
Leverage Shares 2X Long MU Daily ETF | Leverage Shares 2X Long MU Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [7]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [8]
Expenses (as a percentage of Assets) 0.99% [9]
Leverage Shares 2X Long IBM Daily ETF | Leverage Shares 2X Long IBM Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [10]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [11]
Expenses (as a percentage of Assets) 0.99% [12]
Leverage Shares 2X Long FIX Daily ETF | Leverage Shares 2X Long FIX Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [13]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [14]
Expenses (as a percentage of Assets) 0.99% [15]
Leverage Shares 2X Long CLS Daily ETF | Leverage Shares 2X Long CLS Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [16]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [17]
Expenses (as a percentage of Assets) 0.99% [18]
Leverage Shares 2X Long FLEX Daily ETF | Leverage Shares 2X Long FLEX Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [19]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [20]
Expenses (as a percentage of Assets) 0.99% [21]
Leverage Shares 2X Long HUBB Daily ETF | Leverage Shares 2X Long HUBB Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [22]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [23]
Expenses (as a percentage of Assets) 0.99% [24]
Leverage Shares 2X Long ROK Daily ETF | Leverage Shares 2X Long ROK Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [25]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [26]
Expenses (as a percentage of Assets) 0.99% [27]
Leverage Shares 2X Long EMR Daily ETF | Leverage Shares 2X Long EMR Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [28]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [29]
Expenses (as a percentage of Assets) 0.99% [30]
Leverage Shares 2X Long SANM Daily ETF | Leverage Shares 2X Long SANM Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [31]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [32]
Expenses (as a percentage of Assets) 0.99% [33]
Leverage Shares 2X Long CARR Daily ETF | Leverage Shares 2X Long CARR Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [34]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [35]
Expenses (as a percentage of Assets) 0.99% [36]
Leverage Shares 2X Long TT Daily ETF | Leverage Shares 2X Long TT Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [37]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [38]
Expenses (as a percentage of Assets) 0.99% [39]
Leverage Shares 2X Long JCI Daily ETF | Leverage Shares 2X Long JCI Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [40]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [41]
Expenses (as a percentage of Assets) 0.99% [42]
Leverage Shares 2X Long MOD Daily ETF | Leverage Shares 2X Long MOD Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [43]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [44]
Expenses (as a percentage of Assets) 0.99% [45]
Leverage Shares 2X Long STM Daily ETF | Leverage Shares 2X Long STM Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [46]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [47]
Expenses (as a percentage of Assets) 0.99% [48]
Leverage Shares 2X Long WOLF Daily ETF | Leverage Shares 2X Long WOLF Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [49]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [50]
Expenses (as a percentage of Assets) 0.99% [51]
Leverage Shares 2X Long VICR Daily ETF | Leverage Shares 2X Long VICR Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [52]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [53]
Expenses (as a percentage of Assets) 0.99% [54]
Leverage Shares 2X Long POWI Daily ETF | Leverage Shares 2X Long POWI Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [55]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [56]
Expenses (as a percentage of Assets) 0.99% [57]
Leverage Shares 2X Long VSH Daily ETF | Leverage Shares 2X Long VSH Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [58]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [59]
Expenses (as a percentage of Assets) 0.99% [60]
Leverage Shares 2X Long LFUS Daily ETF | Leverage Shares 2X Long LFUS Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [61]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [62]
Expenses (as a percentage of Assets) 0.99% [63]
Leverage Shares 2X Long DIOD Daily ETF | Leverage Shares 2X Long DIOD Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [64]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [65]
Expenses (as a percentage of Assets) 0.99% [66]
Leverage Shares 2X Long QRVO Daily ETF | Leverage Shares 2X Long QRVO Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [67]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [68]
Expenses (as a percentage of Assets) 0.99% [69]
Leverage Shares 2X Long FLNC Daily ETF | Leverage Shares 2X Long FLNC Daily ETF  
Prospectus [Line Items]  
Management Fees (as a percentage of Assets) 0.99% [70]
Distribution and Service (12b-1) Fees 0.00%
Other Expenses (as a percentage of Assets): 0.00% [71]
Expenses (as a percentage of Assets) 0.99% [72]
[1] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[2] Estimated for the current fiscal year.
[3] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[4] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[5] Estimated for the current fiscal year.
[6] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[7] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[8] Estimated for the current fiscal year.
[9] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[10] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[11] Estimated for the current fiscal year.
[12] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[13] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[14] Estimated for the current fiscal year.
[15] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[16] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[17] Estimated for the current fiscal year.
[18] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[19] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[20] Estimated for the current fiscal year.
[21] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[22] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[23] Estimated for the current fiscal year.
[24] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[25] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[26] Estimated for the current fiscal year.
[27] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[28] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[29] Estimated for the current fiscal year.
[30] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[31] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[32] Estimated for the current fiscal year.
[33] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[34] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[35] Estimated for the current fiscal year.
[36] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[37] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[38] Estimated for the current fiscal year.
[39] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[40] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[41] Estimated for the current fiscal year.
[42] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[43] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[44] Estimated for the current fiscal year.
[45] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[46] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[47] Estimated for the current fiscal year.
[48] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[49] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[50] Estimated for the current fiscal year.
[51] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[52] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[53] Estimated for the current fiscal year.
[54] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[55] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[56] Estimated for the current fiscal year.
[57] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[58] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[59] Estimated for the current fiscal year.
[60] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[61] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[62] Estimated for the current fiscal year.
[63] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[64] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[65] Estimated for the current fiscal year.
[66] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[67] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[68] Estimated for the current fiscal year.
[69] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.
[70] The Fund’s investment advisory agreement provides that the Fund’s investment adviser will pay substantially all expenses of the Fund, except for the fee paid to the Adviser (as defined below) pursuant to the investment advisory agreement, interest charges on any borrowings, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution (12b-1) fees and expenses.
[71] Estimated for the current fiscal year.
[72] The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table and is not reflected in the expense example.