FSMLX Fees and Costs — Franklin Small Cap Growth Fund, Class R6
Data updated: 2026-09-25
The net expense ratio is 0.67%: a 0.62% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2.1M in broker commissions, 0.0859% of average net assets, and portfolio turnover was 48%.
FSMLX Fees and Expenses
Annual operating expenses and sales charges of FSMLX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.62% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.67% |
| Fee waiver | — |
| Net expense ratio | 0.67% |
| 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 |
FSMLX Costs Over Time
On $10,000 invested in FSMLX, assuming 5% a year before costs, total costs come to $475 over 5 years, cutting the return by 0.79% 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 0.67%) | $70 | $220 | $383 |
| Trading costs (broker commissions) | $9 | $28 | $49 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $261 | $475 |
| Value after costs | $10,421 | $11,316 | $12,288 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
FSMLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0859%
- Total broker commissions: $2.1M
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $49.3M
- Net income from securities lending: $359K (0.015% of average net assets)
FSMLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $257K | 17.94% |
| JonesTrading Institutional Services LLC | $205K | 14.28% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $176K | 12.29% |
| Rosenblatt Securities Inc. | $142K | 9.87% |
| Sanford C. Bernstein & Co., LLC | $126K | 8.77% |
| State Street Global Markets, LLC | $122K | 8.52% |
| Instinet, LLC | $119K | 8.32% |
| Morgan Stanley & Co. LLC | $107K | 7.46% |
| Citigroup Global Markets Inc. | $102K | 7.09% |
| Virtu Americas LLC | $78K | 5.46% |
FSMLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.5B | 93.86% |
| Morgan Stanley & Co. LLC | $29.4M | 1.86% |
| Jefferies LLC | $24.4M | 1.54% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $15.2M | 0.96% |
| Goldman Sachs & Co. LLC | $12.5M | 0.79% |
| Barclays Capital, Inc. | $5.6M | 0.35% |
| Piper Sandler & Co. | $4.2M | 0.27% |
| Leerink Partners LLC | $4.0M | 0.26% |
| Fiduciary Trust Company International | $1.6M | 0.10% |
Franklin Small Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FSMLX | Class R6 | 0.67% | none |
| FSSAX | Advisor Class | 0.82% | none |
| FSGRX | Class A | 1.07% | 5.50% |
| FSSRX | Class R | 1.32% | none |
| FCSGX | Class C | 1.82% | 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.