C000064238 Fees and Costs — Fidelity Independence Fund, Class K
Data updated: 2021-04-23
The net expense ratio is 0.77%: a 0.70% management fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $516K in broker commissions, 0.0132% of average net assets, and portfolio turnover was 61%.
C000064238 Fees and Expenses
Annual operating expenses and sales charges of C000064238. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.77% |
| Fee waiver | — |
| Net expense ratio | 0.77% |
| 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 | No |
C000064238 Costs Over Time
On $10,000 invested in C000064238, assuming 5% a year before costs, total costs come to $492 over 5 years, cutting the return by 0.82% 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 0.77%) | $81 | $253 | $439 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $270 | $492 |
| Value after costs | $10,418 | $11,306 | $12,271 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
C000064238 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0132%
- Total broker commissions: $516K
- Bought from dealers (principal trades, not a cost): $82.3M
- Portfolio turnover (prospectus): 61%
- Securities on loan, average value: $30.9M
- Net income from securities lending: $153K (0.004% of average net assets)
C000064238 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY | $92K | 22.88% |
| GOLDMAN SACHS GROUP INC (THE) | $70K | 17.47% |
| JPMORGAN CHASE and CO | $55K | 13.81% |
| BANK OF AMERICA CORPORATION | $49K | 12.19% |
| UBS GROUP AG | $30K | 7.43% |
| CREDIT SUISSE GRP AG | $29K | 7.12% |
| LIQUIDNET HOLDINGS INC | $20K | 5.08% |
| ROYAL BANK OF CANADA | $19K | 4.85% |
| CITIGROUP INC | $19K | 4.63% |
| JEFFERIES GROUP LLC | $18K | 4.53% |
C000064238 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $44.3M | 53.86% |
| JPMORGAN CHASE and CO | $26.4M | 32.00% |
| MORGAN STANLEY | $11.6M | 14.13% |
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.