AECSX Fees and Costs — Emerging Markets Small Cap Fund, I Class
Data updated: 2025-04-18
The net expense ratio is 1.19%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $18K in broker commissions, 0.0932% of average net assets, and portfolio turnover was 70%.
AECSX Fees and Expenses
Annual operating expenses and sales charges of AECSX. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.19% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.19% |
| Fee waiver | — |
| Net expense ratio | 1.19% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AECSX Costs Over Time
On $10,000 invested in AECSX, assuming 5% a year before costs, total costs come to $798 over 5 years, cutting the return by 1.35% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.19%) | $125 | $389 | $672 |
| Trading costs (broker commissions) | $10 | $30 | $53 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $135 | $440 | $798 |
| Value after costs | $10,365 | $11,136 | $11,965 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
AECSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0932%
- Total broker commissions: $18K
- Bought from dealers (principal trades, not a cost): $140.5M
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $444K
- Net income from securities lending: $3K (0.013% of average net assets)
AECSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities | $4K | 19.47% |
| Citigroup Capital Markets Inc | $4K | 19.34% |
| Bank of America Merrill Lynch | $3K | 18.38% |
| Morgan Stanley | $2K | 13.50% |
| Jefferies LLC | $2K | 11.42% |
| UBS Warburg | $1K | 5.90% |
| Sanford C. Bernstein | $955 | 5.26% |
| Macquarie Securities | $618 | 3.41% |
| HSBC Securities Incorporated | $440 | 2.42% |
| Itau BBA USA Securities | $164 | 0.90% |
AECSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets | $108.1M | 76.89% |
| Toronto-Dominion Corp | $15.3M | 10.86% |
| BMO Capital Markets | $11.0M | 7.82% |
| UBS Warburg | $2.1M | 1.50% |
| Bank of America Merrill Lynch | $2.0M | 1.43% |
| J.P. Morgan Securities | $904K | 0.64% |
| Goldman Sachs | $746K | 0.53% |
| Citigroup Capital Markets Inc | $338K | 0.24% |
| Morgan Stanley | $107K | 0.08% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.