C000175715 Fees and Costs — AQR Emerging Relaxed Constraint Equity Fund, Class N
Data updated: 2019-12-16
The net expense ratio is 1.44% (1.85% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $63K in broker commissions, 0.4583% of average net assets, and portfolio turnover was 168%.
C000175715 Fees and Expenses
Annual operating expenses and sales charges of C000175715. Prospectus, as of January 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.61% |
| Gross expense ratio | 1.85% |
| Fee waiver | −0.41% |
| Net expense ratio | 1.44% |
| 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 |
C000175715 Costs Over Time
On $10,000 invested in C000175715, assuming 5% a year before costs, total costs come to $1,166 over 5 years, cutting the return by 1.99% 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 1.44%) | $151 | $467 | $803 |
| Trading costs (broker commissions) | $48 | $149 | $256 |
| Lost growth on money paid in costs | $0 | $31 | $108 |
| Total costs | $199 | $647 | $1,166 |
| Value after costs | $10,301 | $10,929 | $11,597 |
| Impact on return, per year | 1.99% | 1.99% | 1.99% |
C000175715 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): 0.4583%
- Total broker commissions: $63K
- Bought from dealers (principal trades, not a cost): $105.9M
- Portfolio turnover (prospectus): 168%
- Securities lending: none during the year
C000175715 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $53K | 83.17% |
| Credit Suisse Securities (USA) LLC | $4K | 5.57% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $3K | 4.02% |
| Goldman Sachs & Co. LLC | $2K | 2.75% |
| UBS Securities LLC | $1K | 1.75% |
| Morgan Stanley & Co. LLC | $925 | 1.46% |
| Royal Bank of Scotland Group PLC | $652 | 1.03% |
| BofA Securities, Inc. | $84 | 0.13% |
| Citigroup Global Markets Inc. | $62 | 0.10% |
| Deutsche Bank Securities Inc. | $14 | 0.02% |
C000175715 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $105.9M | 99.99% |
| Morgan Stanley & Co. LLC | $12K | 0.01% |
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.