C000145997 Fees and Costs — AQR Style Premia Alternative LV Fund, Class I
Data updated: 2020-11-20
The net expense ratio is 1.02% (1.07% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $248K in broker commissions, 0.0839% of average net assets, and portfolio turnover was 157%.
C000145997 Fees and Expenses
Annual operating expenses and sales charges of C000145997. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.02% |
| 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 |
C000145997 Costs Over Time
On $10,000 invested in C000145997, assuming 5% a year before costs, total costs come to $689 over 5 years, cutting the return by 1.16% 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 1.02%) | $107 | $334 | $578 |
| Trading costs (broker commissions) | $9 | $27 | $48 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $379 | $689 |
| Value after costs | $10,384 | $11,197 | $12,074 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
C000145997 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): 0.0839%
- Total broker commissions: $248K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 157%
- Securities on loan, average value: $694K
- Net income from securities lending: —
C000145997 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $71K | 28.81% |
| J.P. Morgan Securities LLC | $66K | 26.60% |
| Morgan Stanley & Co. LLC | $64K | 25.86% |
| Barclays Capital, Inc. | $33K | 13.47% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 1.49% |
| Deutsche Bank Securities Inc. | $3K | 1.28% |
| Credit Suisse Securities (USA) LLC | $3K | 1.04% |
| BofA Securities, Inc. | $2K | 0.72% |
| UBS Securities LLC | $1K | 0.50% |
| CIBC World Markets Corp. | $603 | 0.24% |
C000145997 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $957.4M | 88.44% |
| HSBC Securities (USA) Inc. | $22.4M | 2.07% |
| Royal Bank of Scotland Group plc | $21.2M | 1.95% |
| Deutsche Bank Securities Inc. | $15.6M | 1.44% |
| Nomura Securities International, Inc. | $15.6M | 1.44% |
| Wells Fargo Securities, LLC | $15.3M | 1.41% |
| Morgan Stanley & Co. LLC | $13.9M | 1.28% |
| The Toronto-Dominion Bank | $9.1M | 0.84% |
| Scotia Capital (USA) Inc. | $7.3M | 0.67% |
| Daiwa Capital Markets America Inc. | $4.9M | 0.45% |
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.