ARSTX Fees and Costs — Nuveen Small Cap Select Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 0.95%: a 0.80% management fee plus 0.26% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $379K in broker commissions, 0.2188% of average net assets, and portfolio turnover was 76%.
ARSTX Fees and Expenses
Annual operating expenses and sales charges of ARSTX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
ARSTX Costs Over Time
On $10,000 invested in ARSTX, assuming 5% a year before costs, total costs come to $729 over 5 years, cutting the return by 1.23% 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 0.95%) | $100 | $311 | $538 |
| Trading costs (broker commissions) | $23 | $72 | $124 |
| Lost growth on money paid in costs | $0 | $19 | $67 |
| Total costs | $123 | $401 | $729 |
| Value after costs | $10,377 | $11,175 | $12,034 |
| Impact on return, per year | 1.23% | 1.23% | 1.23% |
ARSTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2188%
- Total broker commissions: $379K
- Bought from dealers (principal trades, not a cost): $473.1M
- Portfolio turnover (prospectus): 76%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $5K (0.003% of average net assets)
ARSTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet INC. | $79K | 22.23% |
| RBC Capital Markets, LLC | $65K | 18.29% |
| National Financial Services LLC | $57K | 16.16% |
| Raymond James & Associates Inc. | $34K | 9.64% |
| Wells Fargo Securities, LLC | $29K | 8.27% |
| Robert W. Baird & Co. Incorporated | $27K | 7.73% |
| Cowen and Company | $23K | 6.50% |
| Instinet LLC | $17K | 4.68% |
| Jefferies LLC | $14K | 3.93% |
| Bank of America, National Association | $9K | 2.57% |
ARSTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $88.6M | 21.26% |
| Liquidnet INC. | $79.5M | 19.09% |
| Bank of America, National Association | $57.8M | 13.88% |
| National Financial Services LLC | $51.3M | 12.31% |
| Morgan Stanley | $27.9M | 6.70% |
| Wells Fargo Securities, LLC | $25.9M | 6.22% |
| Raymond James & Associates Inc. | $23.7M | 5.69% |
| Cowen and Company | $22.2M | 5.33% |
| Robert W. Baird & Co. Incorporated | $22.2M | 5.33% |
| Jefferies LLC | $17.5M | 4.19% |
Nuveen Small Cap Select Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ASEFX | Class R6 | 0.82% | none |
| ARSTX | Class I | 0.95% | none |
| EMGRX | Class A | 1.20% | 5.75% |
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.