Fees

ASPE Labs charges a performance fee only. If there is no profit, there is no fee.

Fee structure

Fee type
Rate
Notes

Management fee

0%

No annual charge on AUM

Performance fee

10%

On new highs only (high-water mark)

Entry fee

0%

No charge on deposits

Exit fee

0%

No charge on withdrawals (v1)

High-water mark explained

The 10% performance fee only applies to new profits above the previous high. If the vault drops in value and then recovers, no fee is charged until the share price exceeds its all-time high.

Example:

  1. Share price starts at $1.00

  2. Rises to $1.20 — fee charged on $0.20 profit (10% = $0.02 per share)

  3. Drops to $1.10 — no fee charged

  4. Recovers to $1.20 — no fee charged (not a new high)

  5. Rises to $1.30 — fee charged on $0.10 new profit only (10% = $0.01 per share)

The high-water mark is enforced on-chain by the smart contract.

How we compare

Protocol
Management Fee
Performance Fee
Mechanism

ASPE Labs

0%

10%

ERC4626, HWM on-chain

HLP (Hyperliquid)

0%

10%

Native vault

Typical HL vaults

0%

10%

Native vault

Traditional hedge funds

2%

20%

Contractual (2-and-20)

DeFi yield aggregators

0-2%

10-20%

Varies

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