APDQX Fees and Costs — Artisan Mid Cap Value Fund, Advisor Shares
Data updated: 2026-08-28
The net expense ratio is 1.07%: a 0.90% management fee plus 0.17% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $470K in broker commissions, 0.0448% of average net assets, and portfolio turnover was 45%.
APDQX Fees and Expenses
Annual operating expenses and sales charges of APDQX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.17% |
| Gross expense ratio | 1.07% |
| Fee waiver | — |
| Net expense ratio | 1.07% |
| 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 |
APDQX Costs Over Time
On $10,000 invested in APDQX, assuming 5% a year before costs, total costs come to $696 over 5 years, cutting the return by 1.17% 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 1.07%) | $112 | $350 | $606 |
| Trading costs (broker commissions) | $5 | $15 | $25 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $383 | $696 |
| Value after costs | $10,383 | $11,193 | $12,067 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
APDQX 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): 0.0448%
- Total broker commissions: $470K
- Bought from dealers (principal trades, not a cost): $594.4M
- Portfolio turnover (prospectus): 45%
- Securities on loan, average value: $1.0M
- Net income from securities lending: $5K (0.000% of average net assets)
APDQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROBERT W. BAIRD & CO. INCORPORATED | $91K | 23.60% |
| Goldman Sachs & Co. LLC | $61K | 15.85% |
| The Benchmark Company, LLC | $53K | 13.70% |
| Jefferies LLC | $46K | 11.92% |
| Sanford C. Bernstein & Co., LLC | $40K | 10.47% |
| Barclays Capital, Inc. | $37K | 9.69% |
| RBC Capital Markets, LLC | $18K | 4.77% |
| Wells Fargo Securities, LLC | $15K | 3.89% |
| J.P. Morgan Securities LLC | $12K | 3.07% |
| Dowling & Partners Securities, LLC | $12K | 3.03% |
APDQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $594.4M | 100.00% |
Artisan Mid Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| APHQX | Institutional Shares | 0.96% | none |
| APDQX | Advisor Shares | 1.07% | none |
| ARTQX | Investor Shares | 1.18% | 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.