FEDM Fees and Costs — FlexShares ESG & Climate Developed Markets ex-US Core Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.12%: a 0.12% management fee plus 0.04% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0028% of average net assets, and portfolio turnover was 20%.
FEDM Fees and Expenses
Annual operating expenses and sales charges of FEDM. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.12% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.16% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.12% |
| 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 |
FEDM Costs Over Time
On $10,000 invested in FEDM, assuming 5% a year before costs, total costs come to $78 over 5 years, cutting the return by 0.13% 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 0.12%) | $13 | $40 | $69 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $2 | $7 |
| Total costs | $13 | $43 | $78 |
| Value after costs | $10,487 | $11,534 | $12,685 |
| Impact on return, per year | 0.13% | 0.13% | 0.13% |
FEDM 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): 0.0028%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $42.3M
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $3.3M
- Net income from securities lending: $15K (0.026% of average net assets)
FEDM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $611 | 39.24% |
| Goldman Sachs & Co. LLC | $306 | 19.68% |
| J.P. Morgan Securities LLC | $219 | 14.07% |
| Citigroup Global Markets Inc. | $146 | 9.36% |
| Scotia Capital (USA) Inc. | $143 | 9.21% |
| HSBC Securities (USA) Inc. | $38 | 2.46% |
| Sanford C. Bernstein & Co., LLC | $36 | 2.30% |
| BofA Securities, Inc. | $32 | 2.02% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $13 | 0.83% |
| Credit Agricole Securities (USA) Inc. | $13 | 0.83% |
FEDM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $24.1M | 57.04% |
| Goldman Sachs & Co. LLC | $8.9M | 20.92% |
| UBS Securities LLC | $3.7M | 8.81% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $3.0M | 6.99% |
| BofA Securities, Inc. | $2.6M | 6.13% |
| Barclays Capital, Inc. | $47K | 0.11% |
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.