GMIIX Fees and Costs — GMO-Usonian Japan Value Creation Fund, Class I
Data updated: 2026-07-29
The net expense ratio is 0.82%: a 0.65% management fee plus 0.25% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $103K in broker commissions, 0.0497% of average net assets, and portfolio turnover was 58%.
GMIIX Fees and Expenses
Annual operating expenses and sales charges of GMIIX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 0.25% |
| Gross expense ratio | 0.90% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.82% |
| 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 |
GMIIX Costs Over Time
On $10,000 invested in GMIIX, assuming 5% a year before costs, total costs come to $545 over 5 years, cutting the return by 0.91% 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 0.82%) | $86 | $269 | $467 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $299 | $545 |
| Value after costs | $10,409 | $11,277 | $12,217 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
GMIIX 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): 0.0497%
- Total broker commissions: $103K
- Bought from dealers (principal trades, not a cost): $197.5M
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
GMIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SG Americas Securities, LLC | $29K | 28.05% |
| Jefferies LLC | $26K | 25.58% |
| Goldman Sachs & Co. LLC | $10K | 10.11% |
| J.P. Morgan Securities LLC | $8K | 8.14% |
| BNP Paribas Securities Corp. | $8K | 7.76% |
| Mizuho Securities USA LLC | $6K | 5.78% |
| Nomura Securities International, Inc. | $6K | 5.58% |
| CLSA Americas, LLC | $5K | 4.69% |
| Daiwa Capital Markets America Inc. | $4K | 4.06% |
| Morgan Stanley & Co. LLC | $248 | 0.24% |
GMIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $197.5M | 100.00% |
GMO-Usonian Japan Value Creation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GMAHX | Class VI | 0.60% | — |
| GMAKX | Class III | 0.70% | — |
| GMIIX | Class I | 0.82% | — |
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.