BUFIX Fees and Costs — Buffalo International Fund, Investor Class
Data updated: 2026-08-21
The net expense ratio is 1.04%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $526K in broker commissions, 0.0584% of average net assets, and portfolio turnover was 16%.
BUFIX Fees and Expenses
Annual operating expenses and sales charges of BUFIX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | — |
| Gross expense ratio | 1.04% |
| Fee waiver | — |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BUFIX Costs Over Time
On $10,000 invested in BUFIX, assuming 5% a year before costs, total costs come to $686 over 5 years, cutting the return by 1.15% 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 1.04%) | $109 | $340 | $590 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $115 | $377 | $686 |
| Value after costs | $10,385 | $11,199 | $12,077 |
| Impact on return, per year | 1.15% | 1.15% | 1.15% |
BUFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0584%
- Total broker commissions: $526K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
BUFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $291K | 55.27% |
| Kepler Capital Markets Inc. | $101K | 19.15% |
| Jefferies LLC | $59K | 11.23% |
| BofA Securities, Inc. | $35K | 6.63% |
| Berenberg Capital Markets LLC | $27K | 5.04% |
| J.P. Morgan Securities LLC | $14K | 2.66% |
Buffalo International Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BUIIX | Institutional Class | 0.89% | — |
| BUFIX | Investor Class | 1.04% | — |
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.