FSAKX Fees and Costs — Strategic Advisers U.S. Total Stock Fund
Data updated: 2026-08-12
The net expense ratio is 0.23% (0.48% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $20.1M in broker commissions, 0.0231% of average net assets, and portfolio turnover was 77%.
FSAKX Fees and Expenses
Annual operating expenses and sales charges of FSAKX. Prospectus, as of July 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.42% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.48% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.23% |
| 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 |
FSAKX Costs Over Time
On $10,000 invested in FSAKX, assuming 5% a year before costs, total costs come to $161 over 5 years, cutting the return by 0.27% 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 0.23%) | $24 | $76 | $133 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $88 | $161 |
| Value after costs | $10,473 | $11,489 | $12,602 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
FSAKX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0231%
- Total broker commissions: $20.1M
- Bought from dealers (principal trades, not a cost): $10.2B
- Portfolio turnover (prospectus): 77%
- Securities on loan, average value: $828.4M
- Net income from securities lending: $2.5M (0.003% of average net assets)
FSAKX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $1.6M | 15.39% |
| BANK OF AMERICA CORPORATION | $1.3M | 12.63% |
| UBS GROUP AG | $1.2M | 11.75% |
| JEFFERIES FINANCIAL GROUP INC | $1.0M | 9.85% |
| GOLDMAN SACHS GROUP INC (THE) | $1.0M | 9.81% |
| EVERCORE INC | $991K | 9.52% |
| PIPER SANDLER COS | $938K | 9.02% |
| MORGAN STANLEY | $811K | 7.79% |
| CITIGROUP INC | $745K | 7.16% |
| BARCLAYS PLC | $737K | 7.08% |
FSAKX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $3.6B | 36.38% |
| JPMORGAN CHASE and CO | $2.5B | 25.80% |
| BARCLAYS PLC | $1.2B | 12.53% |
| GOLDMAN SACHS GROUP INC (THE) | $881.3M | 8.99% |
| CITIGROUP INC | $386.9M | 3.95% |
| BANK OF MONTREAL QUE | $365.1M | 3.72% |
| WELLS FARGO and CO | $330.1M | 3.37% |
| MORGAN STANLEY | $258.0M | 2.63% |
| RBC Capital Markets, LLC | $153.5M | 1.57% |
| Instinet LTD | $103.6M | 1.06% |
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.