IAFEX Fees and Costs — FI Institutional Group All Foreign Equity Environmental and Social Values Fund
Data updated: 2025-11-06
The net expense ratio is 0.68%: a 0.61% management fee plus 95.58% other expenses, less a 95.51% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $126 in broker commissions, 0.0689% of average net assets, and portfolio turnover was 28%.
IAFEX Fees and Expenses
Annual operating expenses and sales charges of IAFEX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.61% |
| 12b-1 fee | — |
| Other expenses | 95.58% |
| Gross expense ratio | 96.19% |
| Fee waiver | −95.51% |
| Net expense ratio | 0.68% |
| 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 |
IAFEX Costs Over Time
On $10,000 invested in IAFEX, assuming 5% a year before costs, total costs come to $471 over 5 years, cutting the return by 0.79% 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 0.68%) | $71 | $223 | $388 |
| Trading costs (broker commissions) | $7 | $23 | $39 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $258 | $471 |
| Value after costs | $10,421 | $11,318 | $12,292 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
IAFEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0689%
- Total broker commissions: $126
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 28%
- Securities lending: none during the year
IAFEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC | $57 | 45.71% |
| INSTINET LLC | $33 | 26.59% |
| UBS SECURITIES LLC | $13 | 10.54% |
| J P MORGAN SECURITIES LLC | $6 | 4.55% |
| JEFFERIES & CO | $6 | 4.54% |
| CITADEL SECURITIES | $4 | 3.34% |
| BOFO SECURITIES INC | $2 | 1.76% |
| COWEN & COMPANY LLC | $2 | 1.26% |
| VIRTU AMERICAS LLC | $2 | 1.23% |
| BARCLAYS CAPITAL INC | $1 | 0.50% |
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.