AUENX Fees and Costs — AQR Large Cap Defensive Style Fund, Class N
Data updated: 2026-08-27
The net expense ratio is 0.66%: a 0.25% management fee, a 0.25% 12b-1 fee plus 0.16% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $18K in broker commissions, 0.0008% of average net assets, and portfolio turnover was 24%.
AUENX Fees and Expenses
Annual operating expenses and sales charges of AUENX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| 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 |
AUENX Costs Over Time
On $10,000 invested in AUENX, assuming 5% a year before costs, total costs come to $416 over 5 years, cutting the return by 0.69% 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 0.66%) | $69 | $217 | $378 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $228 | $416 |
| Value after costs | $10,431 | $11,348 | $12,347 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
AUENX 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): 0.0008%
- Total broker commissions: $18K
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
AUENX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $14K | 78.80% |
| Citigroup Global Markets Inc. | $808 | 4.55% |
| J.P. Morgan Securities LLC | $642 | 3.62% |
| Morgan Stanley & Co. LLC | $603 | 3.39% |
| UBS Securities LLC | $579 | 3.26% |
| BofA Securities, Inc. | $390 | 2.20% |
| Sanford C. Bernstein & Co., LLC | $348 | 1.96% |
| Fidelity Brokerage Services LLC | $304 | 1.71% |
| Barclays Capital, Inc. | $91 | 0.51% |
AUENX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.9B | 100.00% |
| Morgan Stanley & Co. LLC | $8K | 0.00% |
| Barclays Capital, Inc. | $3K | 0.00% |
| UBS Securities LLC | $716 | 0.00% |
AQR Large Cap Defensive Style Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QUERX | Class R6 | 0.31% | — |
| AUEIX | Class I | 0.37% | — |
| AUENX | Class N | 0.66% | — |
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.