C000119366 Fees and Costs — AQR Risk Parity II HV Fund, Class I
Data updated: 2020-11-20
The net expense ratio is 1.49% (2.18% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $19K in broker commissions, 0.0635% of average net assets, and portfolio turnover was 118%.
C000119366 Fees and Expenses
Annual operating expenses and sales charges of C000119366. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.35% |
| Gross expense ratio | 2.18% |
| Fee waiver | −0.69% |
| Net expense ratio | 1.49% |
| 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 |
C000119366 Costs Over Time
On $10,000 invested in C000119366, assuming 5% a year before costs, total costs come to $961 over 5 years, cutting the return by 1.63% 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 1.49%) | $156 | $485 | $837 |
| Trading costs (broker commissions) | $7 | $21 | $36 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $163 | $531 | $961 |
| Value after costs | $10,337 | $11,045 | $11,802 |
| Impact on return, per year | 1.63% | 1.63% | 1.63% |
C000119366 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0635%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $276.0M
- Portfolio turnover (prospectus): 118%
- Securities lending: none during the year
C000119366 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $11K | 57.54% |
| Barclays Capital, Inc. | $4K | 19.83% |
| Goldman Sachs & Co. LLC | $3K | 13.28% |
| J.P. Morgan Securities LLC | $1K | 7.16% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $420 | 2.19% |
C000119366 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $184.5M | 71.57% |
| Citigroup Global Markets Inc. | $17.8M | 6.90% |
| BofA Securities, Inc. | $12.7M | 4.95% |
| Goldman Sachs & Co. LLC | $8.5M | 3.30% |
| Wells Fargo Securities, LLC | $6.6M | 2.54% |
| Barclays Capital, Inc. | $6.3M | 2.43% |
| Morgan Stanley & Co. LLC | $6.0M | 2.31% |
| Nomura Securities International, Inc. | $5.9M | 2.30% |
| UBS Securities LLC | $5.7M | 2.21% |
| Royal Bank of Scotland Group plc | $3.8M | 1.48% |
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.