FDM Fees and Costs — First Trust Dow Jones Select MicroCap Index Fund
Data updated: 2026-08-21
The net expense ratio is 0.60%: a 0.50% management fee plus 0.15% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $192K in broker commissions, 0.1021% of average net assets, and portfolio turnover was 83%.
FDM Fees and Expenses
Annual operating expenses and sales charges of FDM. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.65% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
FDM Costs Over Time
On $10,000 invested in FDM, assuming 5% a year before costs, total costs come to $442 over 5 years, cutting the return by 0.74% 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 | $343 |
| Trading costs (broker commissions) | $11 | $34 | $58 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $74 | $242 | $442 |
| Value after costs | $10,426 | $11,334 | $12,321 |
| Impact on return, per year | 0.74% | 0.74% | 0.74% |
FDM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1021%
- Total broker commissions: $192K
- Bought from dealers (principal trades, not a cost): $206.6M
- Portfolio turnover (prospectus): 83%
- Securities on loan, average value: $5.4M
- Net income from securities lending: $19K (0.010% of average net assets)
FDM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITADEL SECURITIES LLC | $170K | 88.71% |
| J.P. MORGAN SECURITIES LLC | $10K | 5.47% |
| GOLDMAN SACHS & CO. LLC | $4K | 1.87% |
| OLD MISSION MARKETS LLC | $2K | 1.21% |
| BTIG, LLC | $2K | 1.07% |
| MIZUHO SECURITIES USA LLC | $1K | 0.71% |
| BOFA SECURITIES, INC. | $1K | 0.70% |
| CANTOR FITZGERALD & CO. | $509 | 0.27% |
FDM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $192.2M | 93.02% |
| CITADEL SECURITIES LLC | $9.1M | 4.39% |
| The ODP Corporation | $2.6M | 1.28% |
| Logility Supply Chain Solutions, Inc. | $1.5M | 0.72% |
| UNIVERSAL STAINLESS & ALLOY PRODUCTS, INC. | $1.2M | 0.59% |
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.