APDIX Fees and Costs — Artisan International Fund, Advisor Shares
Data updated: 2026-08-28
The net expense ratio is 1.05%: a 0.94% management fee plus 0.11% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8.6M in broker commissions, 0.1591% of average net assets, and portfolio turnover was 111%.
APDIX Fees and Expenses
Annual operating expenses and sales charges of APDIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.94% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.05% |
| Fee waiver | — |
| 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) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
APDIX Costs Over Time
On $10,000 invested in APDIX, assuming 5% a year before costs, total costs come to $753 over 5 years, cutting the return by 1.27% 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 | $594 |
| Trading costs (broker commissions) | $17 | $52 | $90 |
| Lost growth on money paid in costs | $0 | $20 | $69 |
| Total costs | $127 | $415 | $753 |
| Value after costs | $10,373 | $11,161 | $12,010 |
| Impact on return, per year | 1.27% | 1.27% | 1.27% |
APDIX 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): 0.1591%
- Total broker commissions: $8.6M
- Bought from dealers (principal trades, not a cost): $5.6B
- Portfolio turnover (prospectus): 111%
- Securities on loan, average value: $53.6M
- Net income from securities lending: $881K (0.016% of average net assets)
APDIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.2M | 17.30% |
| Goldman Sachs & Co. LLC | $1.1M | 16.21% |
| Morgan Stanley & Co. LLC | $879K | 13.05% |
| Citigroup Global Markets Inc. | $732K | 10.86% |
| HSBC Securities (USA) Inc. | $728K | 10.80% |
| Jefferies LLC | $664K | 9.86% |
| UBS Securities LLC | $562K | 8.34% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $405K | 6.01% |
| BNP Paribas Securities Corp. | $313K | 4.64% |
| Instinet, LLC | $198K | 2.94% |
APDIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5.4B | 96.28% |
| HSBC Securities (USA) Inc. | $207.9M | 3.71% |
| Morgan Stanley & Co. LLC | $458K | 0.01% |
Artisan International Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| APHIX | Institutional Shares | 0.96% | none |
| APDIX | Advisor Shares | 1.05% | none |
| ARTIX | Investor Shares | 1.19% | 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.