GQSIX Fees and Costs — Disciplined U.S. Small Cap Equity Portfolio, Institutional Shares
Data updated: 2026-09-14
The net expense ratio is 0.65%: a 0.55% management fee plus 3.07% other expenses, less a 2.97% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.3941% of average net assets, and portfolio turnover was 92%.
GQSIX Fees and Expenses
Annual operating expenses and sales charges of GQSIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 3.07% |
| Gross expense ratio | 3.62% |
| Fee waiver | −2.97% |
| Net expense ratio | 0.65% |
| 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 |
GQSIX Costs Over Time
On $10,000 invested in GQSIX, assuming 5% a year before costs, total costs come to $653 over 5 years, cutting the return by 1.10% 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 0.65%) | $68 | $213 | $369 |
| Trading costs (broker commissions) | $41 | $129 | $224 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $359 | $653 |
| Value after costs | $10,390 | $11,217 | $12,110 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
GQSIX 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): 0.3941%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $4.8M
- Portfolio turnover (prospectus): 92%
- Securities on loan, average value: $108K
- Net income from securities lending: $106 (0.005% of average net assets)
GQSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $3K | 31.39% |
| Robert W. Baird & Co. Incorporated | $2K | 22.73% |
| RBC Capital Markets, LLC | $1K | 14.73% |
| Truist Securities, Inc. | $1K | 14.15% |
| Strategas Securities, LLC | $664 | 7.79% |
| Barclays Capital Inc. | $548 | 6.43% |
| BofA Securities, Inc. | $217 | 2.54% |
| Janney Montgomery Scott LLC | $20 | 0.23% |
GQSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $4.8M | 100.00% |
Disciplined U.S. Small Cap Equity Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GQSIX | Institutional Shares | 0.65% | — |
| GQSCX | Advisor Shares | 0.85% | — |
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.