FPIXX Fees and Costs — First American Institutional Prime Obligations Fund, Class V
Data updated: 2025-11-14
The net expense ratio is 0.30% (0.34% before fee waivers). There are no sales loads or redemption fees.
FPIXX Fees and Expenses
Annual operating expenses and sales charges of FPIXX. Prospectus, as of November 14, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.34% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
FPIXX Costs Over Time
On $10,000 invested in FPIXX, assuming 5% a year before costs, total costs come to $190 over 5 years, cutting the return by 0.31% 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 0.30%) | $32 | $99 | $173 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $190 |
| Value after costs | $10,468 | $11,472 | $12,573 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
FPIXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $204.4B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
FPIXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SCOTIA CAPITAL (USA) INC. | $55.9B | 31.61% |
| CREDIT AGRICOLE SECURITIES (USA) INC. | $40.3B | 22.79% |
| BNP PARIBAS SECURITIES CORP. | $12.1B | 6.86% |
| MUFG SECURITIES AMERICAS INC. | $12.1B | 6.84% |
| TD SECURITIES (USA) LLC | $11.8B | 6.64% |
| BOFA SECURITIES INC. | $10.2B | 5.77% |
| HSBC SECURITIES (USA) INC. | $9.9B | 5.60% |
| CIBC WORLD MARKETS CORP. | $8.9B | 5.05% |
| ING FINANCIAL MARKETS LLC | $8.3B | 4.67% |
| NATIXIS SECURITIES AMERICAS LLC | $7.4B | 4.16% |
First American Institutional Prime Obligations Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FPZXX | Class Z | 0.20% | none |
| FPIXX | Class V | 0.30% | none |
| FIUXX | Class T | 0.40% | none |
| FAIXX | Class Y | 0.45% | none |
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.