FSAMX Fees and Costs — Strategic Advisers Emerging Markets Fund
Data updated: 2026-07-24
The net expense ratio is 0.43% (0.68% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10.0M in broker commissions, 0.0727% of average net assets, and portfolio turnover was 48%.
FSAMX Fees and Expenses
Annual operating expenses and sales charges of FSAMX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.43% |
| 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 |
FSAMX Costs Over Time
On $10,000 invested in FSAMX, assuming 5% a year before costs, total costs come to $318 over 5 years, cutting the return by 0.53% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $53 | $174 | $318 |
| Value after costs | $10,447 | $11,403 | $12,445 |
| Impact on return, per year | 0.53% | 0.53% | 0.53% |
FSAMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0727%
- Total broker commissions: $10.0M
- Bought from dealers (principal trades, not a cost): $56.6M
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $202.6M
- Net income from securities lending: $2.2M (0.016% of average net assets)
FSAMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JPMORGAN CHASE and CO | $1.6M | 18.51% |
| MORGAN STANLEY | $1.4M | 16.72% |
| BANK OF AMERICA CORPORATION | $1.1M | 12.45% |
| GOLDMAN SACHS GROUP INC (THE) | $1.1M | 12.43% |
| UBS GROUP AG | $974K | 11.34% |
| CITIGROUP INC | $853K | 9.94% |
| JEFFERIES FINANCIAL GROUP INC | $503K | 5.86% |
| MACQUARIE GROUP LTD | $392K | 4.57% |
| NOMURA HOLDINGS INC | $369K | 4.30% |
| CITIC SECURITIES CO LTD | $333K | 3.88% |
FSAMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES FINANCIAL GROUP INC | $14.8M | 26.21% |
| WELLS FARGO and CO | $12.3M | 21.66% |
| BANK OF MONTREAL QUE | $10.0M | 17.58% |
| NOMURA HOLDINGS INC | $5.9M | 10.50% |
| CITIGROUP INC | $5.0M | 8.81% |
| BARCLAYS PLC | $4.1M | 7.23% |
| DEUTSCHE BANK AG | $3.0M | 5.35% |
| MORGAN STANLEY | $1.3M | 2.38% |
| BANK NEW YORK MELLON CORP | $158K | 0.28% |
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.