AQIIX Fees and Costs — AQR International Equity Fund, Class I
Data updated: 2023-02-27
The net expense ratio is 0.86%: a 0.65% management fee plus 0.35% other expenses, less a 0.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $25K in broker commissions, 0.0424% of average net assets, and portfolio turnover was 92%.
AQIIX Fees and Expenses
Annual operating expenses and sales charges of AQIIX. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.35% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.15% |
| 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 |
AQIIX Costs Over Time
On $10,000 invested in AQIIX, assuming 5% a year before costs, total costs come to $566 over 5 years, cutting the return by 0.95% 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) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $311 | $566 |
| Value after costs | $10,405 | $11,266 | $12,197 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
AQIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.0424%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $225.6M
- Portfolio turnover (prospectus): 92%
- Securities on loan, average value: $131K
- Net income from securities lending: $339 (0.001% of average net assets)
AQIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $7K | 26.97% |
| Barclays Capital, Inc. | $6K | 24.93% |
| Morgan Stanley & Co. LLC | $3K | 10.95% |
| BofA Securities, Inc. | $2K | 9.17% |
| J.P. Morgan Securities LLC | $2K | 7.50% |
| UBS Securities LLC | $2K | 7.12% |
| Credit Suisse Securities (USA) LLC | $2K | 6.88% |
| BNP Paribas Securities Corp. | $958 | 3.79% |
| Instinet, LLC | $477 | 1.89% |
| Deutsche Bank Securities Inc. | $198 | 0.78% |
AQIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $225.6M | 100.00% |
| Goldman Sachs & Co. LLC | $86 | 0.00% |
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.