# Circuit Vault Fees Circuit does not charge any management fee. The vault fee structure only consist of a 30% performance fee. If the strategy is profitable, the performance fee is charged on the premiums earned. If the strategy is unprofitable, there are no fees charged and there will be a high watermark. Performance fees are calculated per depositor action and will be triggered upon users' withdrawal request post lock-up period. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.circuit.trade/product-guides/circuit-vault-fees.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.