GMAVX Fees and Costs — GMO Emerging Markets ex-China Fund, Class I
Data updated: 2026-09-29
The net expense ratio is 1.03%: a 0.77% management fee plus 0.53% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $90K in broker commissions, 0.1124% of average net assets, and portfolio turnover was 92%.
GMAVX Fees and Expenses
Annual operating expenses and sales charges of GMAVX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.77% |
| 12b-1 fee | — |
| Other expenses | 0.53% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.27% |
| Net expense ratio | 1.03% |
| 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 | Yes |
GMAVX Costs Over Time
On $10,000 invested in GMAVX, assuming 5% a year before costs, total costs come to $713 over 5 years, cutting the return by 1.20% 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 1.03%) | $108 | $337 | $583 |
| Trading costs (broker commissions) | $12 | $37 | $64 |
| Lost growth on money paid in costs | $0 | $19 | $65 |
| Total costs | $120 | $392 | $713 |
| Value after costs | $10,380 | $11,184 | $12,050 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
GMAVX 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): 0.1124%
- Total broker commissions: $90K
- Bought from dealers (principal trades, not a cost): $50.8M
- Portfolio turnover (prospectus): 92%
- Securities on loan, average value: $97K
- Net income from securities lending: $4K (0.005% of average net assets)
GMAVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $10K | 14.57% |
| UBS Securities LLC | $10K | 14.20% |
| Morgan Stanley & Co. LLC | $9K | 12.85% |
| Jefferies LLC | $7K | 10.51% |
| J.P. Morgan Securities LLC | $7K | 9.65% |
| Goldman Sachs & Co. LLC | $6K | 9.51% |
| CLSA Americas, LLC | $6K | 8.58% |
| Macquarie Capital (USA) Inc. | $5K | 7.27% |
| BNP Paribas Securities Corp. | $4K | 6.55% |
| Cty Co Phan Chung Khoan Ban Viet | $4K | 6.31% |
GMAVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $50.2M | 98.92% |
| BofA Securities, Inc. | $549K | 1.08% |
GMO Emerging Markets ex-China Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GMAQX | Class VI | 0.68% | — |
| GMAUX | Class III | 0.81% | — |
| GMAVX | Class I | 1.03% | — |
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.