Expat Capital — Expat Bulgaria SOFIX ETF
A UCITS ETF managed by Expat Capital, fully replicating the SOFIX index since June 2017 — a 100% Bulgarian allocation by design, with a 2% purchase fee, 2% redemption fee, and ongoing management, administrative and transaction costs of up to 4.4% p.a., per the fund's own prospectus and Key Information Document.
Expat Capital's own site is clear about what it is and how it invests, which is why it holds the transparency badge. It is not ranked on size — its AUM (€9.83M) is confirmed but sits in the middle of the four funds with confirmed figures, not at either extreme. Its costs, per its own prospectus and Key Information Document, are an itemized schedule of a purchase fee, a redemption fee, and ongoing management/administrative and transaction costs rather than a single bundled figure, so it is not ranked on cost, and it does not publish a monthly AUM history, so it is not ranked on growth.
Key facts
Expat Bulgaria SOFIX is the only ETF among the five funds on this site with a 100% Bulgarian allocation by design — it is a direct, full-replication tracker of the SOFIX index.
| Field | Expat Capital (Expat Bulgaria SOFIX) |
|---|---|
| Management company | Expat Capital |
| Structure | UCITS ETF physical, full replication of the SOFIX index |
| Purchase fee (subscription) | 2.00%per Expat Capital's own prospectus — institutional-investor rate charged on first-market (primary) purchases of fund units, deducted from the fund's NAV and included in the issue price; other investor categories negotiate their own rate by contract with Expat Capital |
| Redemption fee | 2.00%per Expat Capital's own prospectus — institutional-investor rate charged on first-market (primary) redemptions of fund units; other investor categories negotiate their own rate by contract with Expat Capital |
| Ongoing management & administrative costs | up to 2.8% p.a.per Expat Capital's own Key Information Document — covers the management company's remuneration, depositary, audit, Central Depository and FSC supervision fees; an approximate figure based on the fund's actual costs for 1 Jan–31 Dec 2025, which can vary from year to year |
| Transaction costs | up to 1.6% p.a.per Expat Capital's own Key Information Document — an approximate estimate of the cost of buying and selling the fund's underlying instrument; actual cost varies with trading volume |
| Performance fee | Noneper Expat Capital's own Key Information Document — this product does not charge a performance fee |
| Inception date | 24 June 2017 |
| AUM (latest) | €9,832,920.58 as of 4 Oct 2026 — confirmed directly with Expat Capital, superseding the earlier undated third-party estimates (≈€10M per justETF, ≈€4.8M from an earlier source) previously shown here |
| Index tracked | SOFIX main index of the Bulgarian Stock Exchange |
| Bulgarian asset allocation | 100% SOFIX constituents are Bulgarian-listed companies by definition |
| Listed | Bulgarian Stock Exchange also cross-listed on Deutsche Börse Xetra and London Stock Exchange, per third-party data |
| Engagement on proposed programme changes | No statement filed |
| Golden Visa compliance status | Compliant |
| Russian-national clients | Accepted — conditions applyunder the EU sanctions framework applicable to every Bulgaria Golden Visa fund — not a policy separately confirmed with Expat Capital — a Russian national needs a second, non-Russian nationality or a valid EU residence permit, plus a clean sanctions-list and employment history, to subscribe; an ordinary Russian national holding only Russian citizenship cannot |
| Can be split with other funds? | Yes — with other ETFsAdvance Invest — split eligibility follows fund type; combining with an AIF is not permitted under the Golden Visa programme's legislation |
| Legal & immigration services | Not includedThis fund does not bundle legal and immigration services into its fees. Advocate Markov can still assist investors in this fund with the D visa, permanent residence, family reunification, the required language course and the citizenship application — at a discounted rate, charged as a separate service fee on top of the fund's own management fee. See the full fee schedule → |
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What the fees add up to
| Year | Purchase fee (one-off) | Est. ongoing costs (up to 4.4% p.a.) | Cumulative ongoing costs | Redemption fee (2%) | Total estimated exiting cost |
|---|---|---|---|---|---|
| Year 1 | €10,230 | €22,506 | €22,506 | €10,230 | €42,966 |
| Year 2 | €10,230 | €22,506 | €45,012 | €10,230 | €65,472 |
| Year 3 | €10,230 | €22,506 | €67,518 | €10,230 | €87,978 |
| Year 4 | €10,230 | €22,506 | €90,024 | €10,230 | €110,484 |
| Year 5 | €10,230 | €22,506 | €112,530 | €10,230 | €132,990 |
| Year 6 | €10,230 | €22,506 | €135,036 | €10,230 | €155,496 |
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Illustrative only — assuming an investment of approximately €511,500, the maximum published ongoing-cost rates (2.8% management/administrative + 1.6% transaction = 4.4% p.a. combined), and a simplified scenario in which portfolio growth roughly offsets those ongoing costs, so the investment value is held flat for the purpose of this illustration. Actual ongoing costs vary from year to year — the 2.8% and 1.6% figures are themselves approximate, based on the fund's actual costs for 1 Jan–31 Dec 2025 — and the purchase/redemption fee shown is the institutional-investor rate; other investor categories may negotiate a different rate by contract with Expat Capital.
What's confirmed on this page
Want the fully-Bulgarian ETF option explained?
We'll walk through how a SOFIX-tracking ETF compares to the AIF route for your Golden Visa investment.