C000089636 Fees and Costs — Strategic Advisers Small-Mid Cap Fund
Data updated: 2024-07-26
The net expense ratio is 0.38% (0.63% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $8.6M in broker commissions, 0.1073% of average net assets, and portfolio turnover was 70%.
C000089636 Fees and Expenses
Annual operating expenses and sales charges of C000089636. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.54% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.38% |
| 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 |
C000089636 Costs Over Time
On $10,000 invested in C000089636, assuming 5% a year before costs, total costs come to $308 over 5 years, cutting the return by 0.51% 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 0.38%) | $40 | $125 | $218 |
| Trading costs (broker commissions) | $11 | $35 | $62 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $168 | $308 |
| Value after costs | $10,449 | $11,408 | $12,455 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
C000089636 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 29, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1073%
- Total broker commissions: $8.6M
- Bought from dealers (principal trades, not a cost): $3.7M
- Portfolio turnover (prospectus): 70%
- Securities on loan, average value: $451.9M
- Net income from securities lending: $2.1M (0.027% of average net assets)
C000089636 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $744K | 21.59% |
| PIPER SANDLER COS | $429K | 12.44% |
| UBS GROUP AG | $361K | 10.47% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $322K | 9.35% |
| BANK OF AMERICA CORPORATION | $298K | 8.65% |
| MORGAN STANLEY | $298K | 8.64% |
| BARCLAYS PLC | $270K | 7.84% |
| GOLDMAN SACHS GROUP INC (THE) | $252K | 7.31% |
| THE TORONTO DOMINION BANK | $241K | 7.01% |
| OPPENHEIMER & CO. INC. | $231K | 6.69% |
C000089636 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $3.7M | 99.91% |
| MORGAN STANLEY | $2K | 0.06% |
| BNP PARIBAS | $633 | 0.02% |
| BANK OF AMERICA CORPORATION | $381 | 0.01% |
| BARCLAYS PLC | $158 | 0.00% |
| UBS GROUP AG | $62 | 0.00% |
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.