FALAX Fees and Costs — Fidelity Advisor Large Cap Fund, Class A
Data updated: 2025-10-28
The net expense ratio is 1.08%: a 0.82% management fee, a 0.25% 12b-1 fee plus 0.01% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2024 the fund paid $131K in broker commissions, 0.0095% of average net assets, and portfolio turnover was 18%.
FALAX Fees and Expenses
Annual operating expenses and sales charges of FALAX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.82% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.08% |
| Fee waiver | — |
| Net expense ratio | 1.08% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
FALAX Costs Over Time
On $10,000 invested in FALAX, assuming 5% a year before costs, total costs come to $1,375 over 5 years, cutting the return by 2.37% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.08%) | $107 | $333 | $577 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $29 | $107 | $218 |
| Total costs | $712 | $1,018 | $1,375 |
| Value after costs | $9,788 | $10,558 | $11,388 |
| Impact on return, per year | 7.12% | 3.17% | 2.37% |
FALAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0095%
- Total broker commissions: $131K
- Bought from dealers (principal trades, not a cost): $15.8M
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $6.8M
- Net income from securities lending: $18K (0.001% of average net assets)
FALAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROYAL BANK OF CANADA | $20K | 18.97% |
| MORGAN STANLEY | $14K | 13.24% |
| BANK OF AMERICA CORPORATION | $13K | 12.31% |
| GOLDMAN SACHS GROUP INC (THE) | $12K | 11.55% |
| UBS GROUP AG | $10K | 9.34% |
| JPMORGAN CHASE and CO | $9K | 9.01% |
| WELLS FARGO and CO | $8K | 7.29% |
| CITIGROUP INC | $7K | 6.84% |
| BARCLAYS PLC | $6K | 5.83% |
| JEFFERIES FINANCIAL GROUP INC | $6K | 5.60% |
FALAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $11.1M | 70.19% |
| ROYAL BANK OF CANADA | $1.9M | 12.27% |
| MORGAN STANLEY | $995K | 6.31% |
| JEFFERIES FINANCIAL GROUP INC | $858K | 5.44% |
| GOLDMAN SACHS GROUP INC (THE) | $796K | 5.05% |
| BANK OF AMERICA CORPORATION | $115K | 0.73% |
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.