C000115558 Fees and Costs — AQR Emerging Defensive Style Fund, Class I
Data updated: 2020-12-11
The net expense ratio is 0.70%: a 0.55% management fee plus 0.42% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $43K in broker commissions, 0.0899% of average net assets, and portfolio turnover was 30%.
C000115558 Fees and Expenses
Annual operating expenses and sales charges of C000115558. Prospectus, as of January 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.70% |
| 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 |
C000115558 Costs Over Time
On $10,000 invested in C000115558, assuming 5% a year before costs, total costs come to $496 over 5 years, cutting the return by 0.83% 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 0.70%) | $74 | $230 | $399 |
| Trading costs (broker commissions) | $9 | $30 | $51 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $83 | $272 | $496 |
| Value after costs | $10,417 | $11,304 | $12,267 |
| Impact on return, per year | 0.83% | 0.83% | 0.83% |
C000115558 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0899%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $110.0M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $21K
- Net income from securities lending: $36 (0.000% of average net assets)
C000115558 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Credit Suisse Securities (USA) LLC | $15K | 33.55% |
| J.P. Morgan Securities LLC | $8K | 18.78% |
| Goldman Sachs & Co. LLC | $6K | 14.76% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $6K | 12.74% |
| Morgan Stanley & Co. LLC | $4K | 9.42% |
| BofA Securities, Inc. | $3K | 8.04% |
| UBS Securities LLC | $1K | 2.48% |
| Deutsche Bank Securities Inc. | $93 | 0.21% |
| Sanford C. Bernstein & Co., LLC | $7 | 0.02% |
| Citigroup Global Markets Inc. | $1 | 0.00% |
C000115558 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $109.8M | 99.77% |
| Credit Suisse Securities (USA) LLC | $253K | 0.23% |
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.