GMAEX Fees and Costs — GMO Quality Cyclicals Fund, Class VI
Data updated: 2025-05-13
The net expense ratio is 0.41%: a 0.39% management fee plus 0.19% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10K in broker commissions, 0.0125% of average net assets, and portfolio turnover was 33%.
GMAEX Fees and Expenses
Annual operating expenses and sales charges of GMAEX. Prospectus, as of June 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | — |
| Other expenses | 0.19% |
| Gross expense ratio | 0.58% |
| Fee waiver | −0.17% |
| Net expense ratio | 0.41% |
| 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 |
GMAEX Costs Over Time
On $10,000 invested in GMAEX, assuming 5% a year before costs, total costs come to $267 over 5 years, cutting the return by 0.44% 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 0.41%) | $43 | $135 | $236 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $44 | $146 | $267 |
| Value after costs | $10,456 | $11,430 | $12,495 |
| Impact on return, per year | 0.44% | 0.44% | 0.44% |
GMAEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0125%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $24.6M
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $235K
- Net income from securities lending: $611 (0.001% of average net assets)
GMAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $2K | 25.82% |
| Jefferies LLC | $2K | 18.82% |
| SG Americas Securities, LLC | $2K | 18.05% |
| BofA Securities, Inc. | $775 | 8.44% |
| Morgan Stanley & Co. LLC | $658 | 7.17% |
| Goldman Sachs & Co. LLC | $509 | 5.55% |
| Nomura Securities International, Inc. | $504 | 5.49% |
| Virtu Americas LLC | $408 | 4.44% |
| J.P. Morgan Securities LLC | $291 | 3.16% |
| Citigroup Global Markets Inc. | $281 | 3.06% |
GMAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $24.6M | 100.00% |
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.