DEMSX Fees and Costs — Emerging Markets Small Cap Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.60%: a 0.72% management fee plus 0.08% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 11%.
DEMSX Fees and Expenses
Annual operating expenses and sales charges of DEMSX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | — |
| Other expenses | 0.08% |
| Gross expense ratio | 0.80% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.60% |
| 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 | No |
DEMSX Costs Over Time
On $10,000 invested in DEMSX, assuming 5% a year before costs, total costs come to $378 over 5 years, cutting the return by 0.63% 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 0.60%) | $63 | $197 | $344 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $63 | $207 | $378 |
| Value after costs | $10,437 | $11,369 | $12,384 |
| Impact on return, per year | 0.63% | 0.63% | 0.63% |
DEMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 11%
- Securities on loan, average value: $446.8M
- Net income from securities lending: $17.1M (0.469% of average net assets)
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.