ANDNX Fees and Costs — AQR International Defensive Style Fund, Class N
Data updated: 2026-05-22
The net expense ratio is 0.86%: a 0.40% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.0059% of average net assets, and portfolio turnover was 23%.
ANDNX Fees and Expenses
Annual operating expenses and sales charges of ANDNX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 0.93% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ANDNX Costs Over Time
On $10,000 invested in ANDNX, assuming 5% a year before costs, total costs come to $543 over 5 years, cutting the return by 0.91% 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 0.86%) | $90 | $282 | $490 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $298 | $543 |
| Value after costs | $10,409 | $11,278 | $12,220 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
ANDNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0059%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $244.3M
- Portfolio turnover (prospectus): 23%
- Securities lending: none during the year
ANDNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5K | 31.69% |
| Instinet, LLC | $2K | 15.92% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 13.62% |
| Morgan Stanley & Co. LLC | $2K | 13.12% |
| Goldman Sachs & Co. LLC | $2K | 11.28% |
| UBS Securities LLC | $1K | 7.54% |
| BNP Paribas Securities Corp. | $965 | 6.66% |
| BofA Securities, Inc. | $24 | 0.17% |
ANDNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $244.3M | 100.00% |
| BofA Securities, Inc. | $66 | 0.00% |
| Instinet, LLC | $20 | 0.00% |
| Goldman Sachs & Co. LLC | $10 | 0.00% |
AQR International Defensive Style Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ANDRX | Class R6 | 0.51% | — |
| ANDIX | Class I | 0.61% | — |
| ANDNX | Class N | 0.86% | — |
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.