AQMIX Fees and Costs — AQR Managed Futures Strategy Fund, Class I
Data updated: 2026-08-27
The net expense ratio is 3.09%: a 1.05% management fee plus 2.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.8M in broker commissions, 0.1429% of average net assets, and portfolio turnover was 412%.
AQMIX Fees and Expenses
Annual operating expenses and sales charges of AQMIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.05% |
| 12b-1 fee | — |
| Other expenses | 2.03% |
| Gross expense ratio | 3.09% |
| Fee waiver | — |
| Net expense ratio | 3.09% |
| 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 |
AQMIX Costs Over Time
On $10,000 invested in AQMIX, assuming 5% a year before costs, total costs come to $1,934 over 5 years, cutting the return by 3.39% 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 3.09%) | $324 | $989 | $1,675 |
| Trading costs (broker commissions) | $15 | $46 | $77 |
| Lost growth on money paid in costs | $0 | $52 | $181 |
| Total costs | $339 | $1,087 | $1,934 |
| Value after costs | $10,161 | $10,489 | $10,829 |
| Impact on return, per year | 3.39% | 3.39% | 3.39% |
AQMIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1429%
- Total broker commissions: $2.8M
- Bought from dealers (principal trades, not a cost): $15.8B
- Portfolio turnover (prospectus): 412%
- Securities on loan, average value: $143.0M
- Net income from securities lending: $187K (0.010% of average net assets)
AQMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $1.2M | 44.26% |
| J.P. Morgan Securities LLC | $560K | 20.06% |
| Goldman Sachs & Co. LLC | $433K | 15.52% |
| Barclays Capital, Inc. | $262K | 9.40% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $100K | 3.59% |
| Instinet, LLC | $56K | 2.02% |
| BofA Securities, Inc. | $49K | 1.74% |
| UBS Securities LLC | $44K | 1.56% |
| BNP Paribas Securities Corp. | $42K | 1.50% |
| National Financial Services LLC | $10K | 0.35% |
AQMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $13.2B | 84.48% |
| Deutsche Bank Securities Inc. | $628.6M | 4.01% |
| Morgan Stanley & Co. LLC | $594.8M | 3.79% |
| TD SECURITIES (USA) LLC | $268.2M | 1.71% |
| Natwest Markets Securities Inc. | $238.0M | 1.52% |
| Nomura Securities International, Inc. | $233.2M | 1.49% |
| BofA Securities, Inc. | $164.1M | 1.05% |
| HSBC Securities (USA) Inc. | $152.6M | 0.97% |
| Barclays Capital, Inc. | $82.8M | 0.53% |
| Citigroup Global Markets Inc. | $71.6M | 0.46% |
AQR Managed Futures Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AQMRX | Class R6 | 3.01% | — |
| AQMIX | Class I | 3.09% | — |
| AQMNX | Class N | 3.39% | — |
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.