DFIEX Fees and Costs — International Core Equity 2 Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.23%: a 0.20% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.4M in broker commissions, 0.0041% of average net assets, and portfolio turnover was 8%.
DFIEX Fees and Expenses
Annual operating expenses and sales charges of DFIEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | — |
| Other expenses | 0.03% |
| Gross expense ratio | 0.23% |
| Fee waiver | — |
| Net expense ratio | 0.23% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
DFIEX Costs Over Time
On $10,000 invested in DFIEX, assuming 5% a year before costs, total costs come to $149 over 5 years, cutting the return by 0.25% 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 0.23%) | $24 | $76 | $133 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $25 | $81 | $149 |
| Value after costs | $10,475 | $11,495 | $12,614 |
| Impact on return, per year | 0.25% | 0.25% | 0.25% |
DFIEX 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): 0.0041%
- Total broker commissions: $1.4M
- Bought from dealers (principal trades, not a cost): $232.7M
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $1.8B
- Net income from securities lending: $16.7M (0.050% of average net assets)
DFIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $424K | 31.28% |
| Nomura Securities International, Inc. | $389K | 28.65% |
| Virtu Americas LLC | $337K | 24.81% |
| UBS Securities LLC | $133K | 9.82% |
| Citigroup Global Markets Inc. | $35K | 2.57% |
| Loop Capital Markets LLC | $20K | 1.45% |
| Goldman Sachs & Co. LLC | $19K | 1.42% |
| BofA Securities, Inc. | $55 | 0.00% |
| State Street Bank and Trust Company | $34 | 0.00% |
DFIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $3.2M | 29.62% |
| Macquarie Capital (USA) Inc. | $2.9M | 26.95% |
| State Street Bank and Trust Company | $1.4M | 12.98% |
| ABN AMRO Securities (USA) LLC | $863K | 7.92% |
| J.P. Morgan Securities LLC | $559K | 5.13% |
| Argonaut Securities Pty Limited | $479K | 4.39% |
| Penson Worldwide, Inc. | $444K | 4.08% |
| Morgan Stanley & Co. LLC | $412K | 3.78% |
| Euroz Hartleys Securities Pty Ltd | $289K | 2.66% |
| BofA Securities, Inc. | $271K | 2.49% |
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.