> For the complete documentation index, see [llms.txt](https://docs.ensemble.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ensemble.io/reference/faq.md).

# FAQ

Answers to common questions about returns, liquidity, data, and holder decisions.

These answers cover the questions most likely to matter before a deposit or withdrawal: what shares represent, how costs apply, and why an otherwise sensible transaction can be unavailable.

## Are returns guaranteed?

No. Vault shares can lose substantial value, especially when leveraged exposure moves against the configured direction.

## Is a vault share always redeemable immediately?

No. CircuitBreaker capacity, EVM liquidity, pending work, pauses, and emergency state can limit immediate redemption. Read [Liquidity and redemptions](/safety/liquidity-and-redemptions.md).

## Why does performance differ from the headline leverage?

Fees, funding, execution, cash buffers, rebalance timing, and the path prices take can change the result. The difference from a simple benchmark is called the tracking residual. Read [Performance methodology](/data-and-transparency/performance-methodology.md).

## Which contract should an integrator call?

Use VaultLens for grouped reads and either direct vault ERC-4626 calls or CircuitBreaker router calls for supported deposits and redemptions. Both transaction paths enforce CircuitBreaker policy. Read the [Protocol transparency](/protocol-transparency/developers.md).

## Does a failed withdrawal join a queue?

No. A normal exit either completes in its transaction or reverts. If it cannot execute, it does not become a request for automatic later payment. Network gas may still be charged.

## What does the 0.1% trading fee mean?

The builder fee is Ensemble's 0.1% contract-based charge on observed rebalance execution. It applies to executed notional, not your wallet balance, and is separate from HyperCore exchange fees. See [Fees and caps](/how-it-works/fees-and-caps.md) for the calculation and payment behavior.

## Why does the available amount show zero?

The cause may be a real cap, insufficient buffer, pause, pending state, emergency state, or incompatible/failed read. Decode and label the cause; do not assume shares have no value.

## Where are the official addresses?

Use [Contract addresses](/protocol-transparency/contract-addresses.md) to identify the network and contract for your transaction.

## Can I use an earlier observation as my transaction quote?

No. Earlier balances and estimates may no longer apply. The contracts determine accounting and transaction results at execution. Read [Sources of truth](/data-and-transparency/sources-of-truth.md).