Costs
Separate the charges you can enter.
ETF Compass deducts a conversion fee from every gross deposit. It also deducts the larger of the configured fixed broker fee and percentage broker fee. This matters especially for small, frequent deposits: a fixed cost can be a much larger share of a €50 deposit than of a €500 deposit.
The total expense ratio (TER) is deducted annually from the modelled portfolio balance. TER is not every possible cost. A real investment can also have trading spreads, custody/platform fees, local taxes, exchange fees, and other charges that are not entered in the scenario.
Taxes
Illustrative settings are not personal tax advice.
For a distributing ETF, the calculator applies the selected dividend-tax rate to modelled dividends each compounding period. At the terminal year, it applies the selected capital-gains rate and municipality surtax to a positive modelled profit. These are configurable inputs, not a determination of your liability.
Tax outcomes depend on facts the calculator does not know, including residency, account type, instrument domicile, withholding, holding period, other income, records, treaty treatment, and legal changes. Confirm current rules and your own circumstances with the competent authority or a qualified adviser before acting.
Currency stress
Stress is a scenario, not an exchange-rate forecast.
The EUR/USD stress control adjusts the final portfolio value after the model’s costs and taxes. It is intended to show sensitivity where your expenses and investments may have different currency exposures. It does not model an exchange rate on every contribution date, hedging, fund currency share class, or the underlying companies’ revenues.
Worked example
Compare costs before changing the return assumption.
€100 monthly for 10 years
Open this illustrative scenario with a 5% growth assumption, 2% inflation, and 0.20% TER: open it in ETF Compass. Enter a fixed broker fee, then compare it with a lower fee or a less frequent contribution strategy.
For DCA, the app processes €300 each quarter from the €100 monthly input. It deducts conversion cost and the higher broker-fee rule before compounding. It deducts TER annually, applies your selected tax inputs under the simplified model, then applies any chosen currency stress and inflation adjustment.
The comparison can reveal which inputs deserve research. It cannot tell you which broker, tax position, ETF, or currency exposure is right for you.
Keep an evidence record for each fee and tax input
Use the following worksheet privately; the calculator does not verify these facts or need your documents.
- Instrument: record the exact ISIN/share class, domicile, distribution policy, and dated issuer document. ACC/DIST describes dividend handling, not a universal tax rate.
- Broker costs: record the charge per order, percentage, minimum, currency conversion, and recurring account charges. Check whether charges add together: this model uses the larger fixed/percentage fee, not their sum. A tariff with both charges is not reproduced exactly.
- Tax facts: identify the relevant tax year, residency, account type, and transaction. Distinguish tax paid inside a fund from tax withheld on a payment to you and any personal reporting obligation. A single dividend-tax input cannot represent every layer.
- Source and uncertainty: save the authority/issuer URL, publication date, date checked, and the reason an input applies. If unresolved, keep it marked unknown and compare labelled assumptions; do not describe a zero input as “tax free”.
For Montenegro, a starting reference is the Tax Administration’s Zakon o porezu na dohodak fizičkih lica, published 12 January 2026. Check later amendments and applicable guidance with the authority or a qualified adviser. Linking that document does not establish your liability or confirm that a preset rate applies.
Reconcile the example before trusting it
A €100 monthly DCA input becomes a €300 quarterly purchase. Compare the broker’s charge for a €300 order with the calculator’s conversion fee plus the larger broker fee. Then list any omitted recurring fees and unresolved tax treatment beside the result. The difference is a model limitation, not a saving.
Editorial update, 24 September 2026: added this evidence worksheet, clarified layered tax assumptions, and checked the dated Tax Administration reference. No personal tax rate is asserted.
References and dates
Primary references
- Investor.gov: fees and expenses
- ESMA: investor information
- Tax Administration: Zakon o porezu na dohodak fizičkih lica
- European Central Bank: euro reference exchange rates
Tax reference published 12 January 2026, checked 24 September 2026. Other references reviewed 18 August 2026.
No personalized advice
All cost, tax, and currency settings are illustrative, configurable, and time-sensitive. This article is general education, not tax, legal, or investment advice.
Continue learning
How the calculator works · Returns and inflation · About ETF Compass