APDEX Fees and Costs — Artisan Sustainable Emerging Markets Fund, Advisor Shares
Data updated: 2026-08-28
The net expense ratio is 1.05%: a 0.85% management fee plus 0.28% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $228K in broker commissions, 0.0999% of average net assets, and portfolio turnover was 33%.
APDEX Fees and Expenses
Annual operating expenses and sales charges of APDEX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.13% |
| Fee waiver | −0.08% |
| Net expense ratio | 1.05% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
APDEX Costs Over Time
On $10,000 invested in APDEX, assuming 5% a year before costs, total costs come to $717 over 5 years, cutting the return by 1.21% 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 1.05%) | $110 | $343 | $595 |
| Trading costs (broker commissions) | $10 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $121 | $395 | $717 |
| Value after costs | $10,379 | $11,181 | $12,046 |
| Impact on return, per year | 1.21% | 1.21% | 1.21% |
APDEX 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): 0.0999%
- Total broker commissions: $228K
- Bought from dealers (principal trades, not a cost): $284.3M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $1.2M
- Net income from securities lending: $22K (0.010% of average net assets)
APDEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $46K | 25.46% |
| HSBC Securities (USA) Inc. | $32K | 17.82% |
| Morgan Stanley & Co. LLC | $16K | 9.03% |
| Goldman Sachs & Co. LLC | $16K | 8.95% |
| UBS Securities LLC | $15K | 8.12% |
| Jefferies LLC | $12K | 6.90% |
| Citigroup Global Markets Inc. | $11K | 6.31% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $11K | 6.05% |
| Daiwa Capital Markets America Inc. | $11K | 5.88% |
| Korea Investment & Securities America, Inc. | $10K | 5.47% |
APDEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $279.5M | 98.31% |
| Morgan Stanley & Co. LLC | $4.8M | 1.69% |
Artisan Sustainable Emerging Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| APHEX | Institutional Shares | 1.00% | none |
| APDEX | Advisor Shares | 1.05% | none |
| ARTZX | Investor Shares | 1.15% | none |
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.