GQRE Fees and Costs — FlexShares Global Quality Real Estate Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.45%: a 0.45% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10K in broker commissions, 0.0025% of average net assets, and portfolio turnover was 49%.
GQRE Fees and Expenses
Annual operating expenses and sales charges of GQRE. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.46% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.45% |
| 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 |
GQRE Costs Over Time
On $10,000 invested in GQRE, assuming 5% a year before costs, total costs come to $286 over 5 years, cutting the return by 0.48% 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 0.45%) | $47 | $148 | $259 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $48 | $156 | $286 |
| Value after costs | $10,452 | $11,420 | $12,477 |
| Impact on return, per year | 0.48% | 0.48% | 0.48% |
GQRE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0025%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $449.6M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $65.0M
- Net income from securities lending: $116K (0.029% of average net assets)
GQRE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $4K | 45.45% |
| Citigroup Global Markets Inc. | $2K | 15.91% |
| UBS Securities LLC | $2K | 15.51% |
| J.P. Morgan Securities LLC | $1K | 12.38% |
| Cabrera Capital Markets, LLC | $585 | 6.01% |
| Scotia Capital (USA) Inc. | $251 | 2.58% |
| Virtu Americas LLC | $181 | 1.86% |
| BofA Securities, Inc. | $28 | 0.28% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $3 | 0.03% |
GQRE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $175.4M | 39.01% |
| J.P. Morgan Securities LLC | $90.5M | 20.12% |
| Goldman Sachs & Co. LLC | $83.4M | 18.56% |
| UBS Securities LLC | $76.2M | 16.95% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $11.5M | 2.55% |
| Virtu Americas LLC | $9.3M | 2.07% |
| BNP Paribas Securities Corp. | $1.8M | 0.40% |
| Barclays Capital, Inc. | $1.1M | 0.25% |
| Jefferies LLC | $365K | 0.08% |
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.