FEMS Fees and Costs — First Trust Emerging Markets Small Cap AlphaDEX Fund
Data updated: 2026-08-21
The net expense ratio is 0.80%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $581K in broker commissions, 0.2233% of average net assets, and portfolio turnover was 114%.
FEMS Fees and Expenses
Annual operating expenses and sales charges of FEMS. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.80% |
| Fee waiver | — |
| Net expense ratio | 0.80% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FEMS Costs Over Time
On $10,000 invested in FEMS, assuming 5% a year before costs, total costs come to $640 over 5 years, cutting the return by 1.07% 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 0.80%) | $84 | $262 | $454 |
| Trading costs (broker commissions) | $23 | $73 | $127 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $107 | $352 | $640 |
| Value after costs | $10,393 | $11,224 | $12,123 |
| Impact on return, per year | 1.07% | 1.07% | 1.07% |
FEMS 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): 0.2233%
- Total broker commissions: $581K
- Bought from dealers (principal trades, not a cost): $57.8M
- Portfolio turnover (prospectus): 114%
- Securities on loan, average value: $9.0M
- Net income from securities lending: $427K (0.164% of average net assets)
FEMS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $321K | 55.32% |
| BOFA SECURITIES, INC. | $243K | 41.80% |
| LarrainVial Securities US LLC | $12K | 2.14% |
| GOLDMAN SACHS & CO. LLC | $2K | 0.29% |
| Mizuho Securities USA LLC | $1K | 0.22% |
| UBS Securities LLC | $1K | 0.21% |
| BTG PACTUAL US CAPITAL, LLC | $89 | 0.02% |
FEMS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $47.9M | 82.97% |
| BOFA SECURITIES, INC. | $4.8M | 8.35% |
| Mizuho Securities USA LLC | $2.5M | 4.34% |
| UBS SECURITIES LLC | $2.5M | 4.34% |
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.