FREAX Fees and Costs — Nuveen Real Estate Securities Fund, Class A
Data updated: 2026-08-27
The net expense ratio is 1.18%: a 0.78% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.12% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $1.5M in broker commissions, 0.1660% of average net assets, and portfolio turnover was 69%.
FREAX Fees and Expenses
Annual operating expenses and sales charges of FREAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.78% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.18% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
FREAX Costs Over Time
On $10,000 invested in FREAX, assuming 5% a year before costs, total costs come to $1,522 over 5 years, cutting the return by 2.63% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.18%) | $117 | $363 | $627 |
| Trading costs (broker commissions) | $16 | $51 | $88 |
| Lost growth on money paid in costs | $29 | $111 | $231 |
| Total costs | $737 | $1,100 | $1,522 |
| Value after costs | $9,763 | $10,476 | $11,241 |
| Impact on return, per year | 7.37% | 3.44% | 2.63% |
FREAX 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): 0.1660%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $1.5B
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
FREAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $259K | 18.60% |
| Sanford C. Bernstein & Co., LLC | $251K | 18.07% |
| RBC Capital Markets, LLC | $234K | 16.79% |
| Bank of America, National Association | $170K | 12.23% |
| Virtu Americas LLC | $123K | 8.82% |
| Evercore Group L.L.C. | $112K | 8.07% |
| National Financial Services LLC | $84K | 6.06% |
| Cowen and Company | $68K | 4.92% |
| Cantor Fitzgerald & Co. | $47K | 3.37% |
| Wells Fargo Securities, LLC | $43K | 3.07% |
FREAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $237.2M | 17.09% |
| RBC Capital Markets, LLC | $212.4M | 15.29% |
| Sanford C. Bernstein & Co., LLC | $210.6M | 15.17% |
| Bank of America, National Association | $164.4M | 11.84% |
| Cantor Fitzgerald & Co. | $142.0M | 10.23% |
| BTIG, LLC | $123.2M | 8.88% |
| Virtu Americas LLC | $115.4M | 8.31% |
| Evercore Group L.L.C. | $89.5M | 6.45% |
| Cowen and Company | $47.4M | 3.41% |
| KeyBanc Capital Markets Inc. | $46.4M | 3.34% |
Nuveen Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FREGX | Class R6 | 0.72% | none |
| FARCX | Class I | 0.93% | none |
| FREAX | Class A | 1.18% | 5.75% |
| FRLCX | Class C | 1.93% | 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.