C000119364 Fees and Costs — AQR Risk Parity II MV Fund, Class I
Data updated: 2021-11-23
The net expense ratio is 0.82% (1.01% before fee waivers). There are no sales loads or redemption fees. In fiscal 2020 the fund paid $38K in broker commissions, 0.0401% of average net assets, and portfolio turnover was 111%.
C000119364 Fees and Expenses
Annual operating expenses and sales charges of C000119364. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.82% |
| 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 |
C000119364 Costs Over Time
On $10,000 invested in C000119364, assuming 5% a year before costs, total costs come to $540 over 5 years, cutting the return by 0.90% 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 0.82%) | $86 | $269 | $467 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $296 | $540 |
| Value after costs | $10,410 | $11,280 | $12,223 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
C000119364 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0401%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): $587.1M
- Portfolio turnover (prospectus): 111%
- Securities lending: none during the year
C000119364 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $22K | 57.32% |
| Goldman Sachs & Co. LLC | $6K | 14.84% |
| Barclays Capital, Inc. | $5K | 13.71% |
| J.P. Morgan Securities LLC | $4K | 9.39% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 4.74% |
C000119364 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $423.9M | 75.01% |
| Wells Fargo Securities, LLC | $31.2M | 5.52% |
| Nomura Securities International, Inc. | $23.7M | 4.19% |
| Citigroup Global Markets Inc. | $23.3M | 4.12% |
| Morgan Stanley & Co. LLC | $18.1M | 3.20% |
| UBS Securities LLC | $13.4M | 2.38% |
| TD Securities (USA) LLC | $12.6M | 2.23% |
| BofA Securities, Inc. | $8.3M | 1.47% |
| HSBC Securities (USA) Inc. | $5.5M | 0.97% |
| Credit Agricole Securities (USA) Inc. | $5.1M | 0.91% |
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.