ARAIX Fees and Costs — Ariel Fund, Institutional Class
Data updated: 2026-08-20
The net expense ratio is 0.70%: a 0.58% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.3M in broker commissions, 0.0515% of average net assets, and portfolio turnover was 17%.
ARAIX Fees and Expenses
Annual operating expenses and sales charges of ARAIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ARAIX Costs Over Time
On $10,000 invested in ARAIX, assuming 5% a year before costs, total costs come to $472 over 5 years, cutting the return by 0.79% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $472 |
| Value after costs | $10,421 | $11,317 | $12,290 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
ARAIX 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): 0.0515%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): $918.8M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
ARAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $541K | 52.46% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $120K | 11.63% |
| INTL FCSTONE PTY LTD | $56K | 5.38% |
| BARCLAYS CAPITAL INC | $54K | 5.27% |
| MORGAN STANLEY & CO. LLC | $52K | 5.00% |
| ROBERT W BAIRD & CO INCORPORATED | $51K | 4.89% |
| J.P. Morgan Securities LLC | $50K | 4.81% |
| UBS SECURITIES LLC | $38K | 3.68% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $37K | 3.60% |
| WR Securities, LLC | $34K | 3.27% |
ARAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $918.8M | 100.00% |
Ariel Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ARAIX | Institutional Class | 0.70% | none |
| ARGFX | Investor Class | 1.01% | 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.