FQTEX Fees and Costs — Franklin Templeton SMACS Series E, Advisor Class
Data updated: 2026-07-27
The net expense ratio is 0.00% (0.08% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $221K in broker commissions, 0.0720% of average net assets, and portfolio turnover was 103%.
FQTEX Fees and Expenses
Annual operating expenses and sales charges of FQTEX. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.08% |
| Gross expense ratio | 0.08% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.00% |
| 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 |
FQTEX Costs Over Time
On $10,000 invested in FQTEX, assuming 5% a year before costs, total costs come to $46 over 5 years, cutting the return by 0.08% 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 0.00%) | $0 | $0 | $0 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $8 | $25 | $46 |
| Value after costs | $10,492 | $11,551 | $12,717 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
FQTEX 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): 0.0720%
- Total broker commissions: $221K
- Bought from dealers (principal trades, not a cost): $772.0M
- Portfolio turnover (prospectus): 103%
- Securities lending: none during the year
FQTEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $38K | 18.88% |
| Cowen and Company | $32K | 15.75% |
| J.P. Morgan Securities LLC | $29K | 14.43% |
| Rosenblatt Securities Inc. | $20K | 9.63% |
| RBC Capital Markets, LLC | $19K | 9.62% |
| BMO Nesbitt Burns Securities Ltd. | $19K | 9.47% |
| BTIG, LLC | $14K | 7.00% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $13K | 6.25% |
| Goldman Sachs & Co. LLC | $12K | 6.01% |
| JonesTrading Institutional Services LLC | $6K | 2.96% |
FQTEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $500.6M | 67.63% |
| Citigroup Global Markets Inc. | $41.9M | 5.66% |
| BofA Securities, Inc. | $38.3M | 5.17% |
| Barclays Capital, Inc. | $32.7M | 4.42% |
| BNP Paribas Securities Corp. | $25.9M | 3.50% |
| Goldman Sachs & Co. LLC | $24.3M | 3.28% |
| Mizuho Securities USA LLC | $20.1M | 2.71% |
| TD SECURITIES (USA) LLC | $19.5M | 2.63% |
| RBC Capital Markets, LLC | $19.3M | 2.61% |
| Wells Fargo Securities, LLC | $17.7M | 2.39% |
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.