C000175706 Fees and Costs — AQR Large Cap Relaxed Constraint Equity Fund, Class N
Data updated: 2019-12-16
The net expense ratio is 1.58%: a 0.60% management fee, a 0.25% 12b-1 fee plus 1.45% other expenses, less a 0.72% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $871 in broker commissions, 0.0058% of average net assets, and portfolio turnover was 119%.
C000175706 Fees and Expenses
Annual operating expenses and sales charges of C000175706. Prospectus, as of January 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.45% |
| Gross expense ratio | 2.30% |
| Fee waiver | −0.72% |
| Net expense ratio | 1.58% |
| 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 |
C000175706 Costs Over Time
On $10,000 invested in C000175706, assuming 5% a year before costs, total costs come to $980 over 5 years, cutting the return by 1.67% 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 1.58%) | $166 | $514 | $887 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $26 | $90 |
| Total costs | $167 | $542 | $980 |
| Value after costs | $10,333 | $11,034 | $11,782 |
| Impact on return, per year | 1.67% | 1.67% | 1.67% |
C000175706 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0058%
- Total broker commissions: $871
- Bought from dealers (principal trades, not a cost): $12.2M
- Portfolio turnover (prospectus): 119%
- Securities lending: none during the year
C000175706 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $310 | 35.56% |
| Credit Suisse Securities (USA) LLC | $204 | 23.41% |
| Citigroup Global Markets Inc. | $119 | 13.67% |
| J.P. Morgan Securities LLC | $98 | 11.20% |
| Deutsche Bank Securities Inc. | $51 | 5.81% |
| BofA Securities, Inc. | $45 | 5.18% |
| Morgan Stanley & Co. LLC | $45 | 5.16% |
C000175706 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $12.1M | 98.88% |
| Morgan Stanley & Co. LLC | $41K | 0.34% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $41K | 0.34% |
| Deutsche Bank Securities Inc. | $38K | 0.31% |
| BofA Securities, Inc. | $15K | 0.12% |
| Credit Suisse Securities (USA) LLC | $486 | 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.