DFQTX Fees and Costs — U.s. Core Equity 2 Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.18%: a 0.16% management fee plus 0.03% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $554K in broker commissions, 0.0016% of average net assets, and portfolio turnover was 8%.
DFQTX Fees and Expenses
Annual operating expenses and sales charges of DFQTX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.16% |
| 12b-1 fee | — |
| Other expenses | 0.03% |
| Gross expense ratio | 0.19% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.18% |
| 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 |
DFQTX Costs Over Time
On $10,000 invested in DFQTX, assuming 5% a year before costs, total costs come to $115 over 5 years, cutting the return by 0.19% 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 0.18%) | $19 | $59 | $104 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $19 | $63 | $115 |
| Value after costs | $10,481 | $11,513 | $12,647 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
DFQTX 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): 0.0016%
- Total broker commissions: $554K
- Bought from dealers (principal trades, not a cost): $7.1B
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $1.6B
- Net income from securities lending: $2.1M (0.006% of average net assets)
DFQTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $114K | 20.53% |
| Jefferies LLC | $104K | 18.82% |
| Nomura Securities International, Inc. | $85K | 15.34% |
| BNY Capital Markets, LLC | $82K | 14.84% |
| Goldman Sachs & Co. LLC | $69K | 12.46% |
| BofA Securities, Inc. | $59K | 10.67% |
| UBS Securities LLC | $24K | 4.28% |
| Stifel, Nicolaus & Company, Incorporated | $11K | 1.91% |
| BTIG, LLC | $4K | 0.68% |
| JonesTrading Institutional Services LLC | $3K | 0.47% |
DFQTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $7.1B | 99.95% |
| Jefferies LLC | $3.5M | 0.05% |
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.