FMIFX Fees and Costs — FMI International Fund II - Currency Unhedged, Institutional Class
Data updated: 2026-08-14
The net expense ratio is 0.90%: a 0.75% management fee plus 0.41% other expenses, less a 0.26% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $19K in broker commissions, 0.0283% of average net assets, and portfolio turnover was 22%.
FMIFX Fees and Expenses
Annual operating expenses and sales charges of FMIFX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.41% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.26% |
| Net expense ratio | 0.90% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
FMIFX Costs Over Time
On $10,000 invested in FMIFX, assuming 5% a year before costs, total costs come to $581 over 5 years, cutting the return by 0.97% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $3 | $9 | $16 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $319 | $581 |
| Value after costs | $10,403 | $11,257 | $12,181 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
FMIFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0283%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
FMIFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU ITG LLC | $3K | 21.40% |
| UBS ASSET MANAGEMENT (US) INC. | $2K | 16.53% |
| INSTINET LLC | $1K | 10.38% |
| COWEN AND COMPANY LLC | $1K | 10.28% |
| PERSHING LLC | $1K | 9.08% |
| JEFFERIES LLC | $1K | 7.93% |
| SANFORD C. BERNSTEIN & CO. LLC | $937 | 6.54% |
| ROBERT W. BAIRD & CO. INCORPORATED | $888 | 6.19% |
| ACADEMY SECURITIES INC. | $848 | 5.91% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $826 | 5.76% |
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.