IEMFX Fees and Costs — T. Rowe Price Institutional Emerging Markets Equity Fund
Data updated: 2026-09-25
The net expense ratio is 1.00%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $685K in broker commissions, 0.1346% of average net assets, and portfolio turnover was 70%.
IEMFX Fees and Expenses
Annual operating expenses and sales charges of IEMFX. Prospectus, as of December 22, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 1.00% |
| Fee waiver | — |
| Net expense ratio | 1.00% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
IEMFX Costs Over Time
On $10,000 invested in IEMFX, assuming 5% a year before costs, total costs come to $708 over 5 years, cutting the return by 1.19% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $14 | $44 | $76 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $119 | $390 | $708 |
| Value after costs | $10,381 | $11,187 | $12,055 |
| Impact on return, per year | 1.19% | 1.19% | 1.19% |
IEMFX 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): 0.1346%
- Total broker commissions: $685K
- Bought from dealers (principal trades, not a cost): $4.2M
- Portfolio turnover (prospectus): 70%
- Securities lending: none during the year
IEMFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $102K | 18.33% |
| GOLDMAN SACHS & CO. LLC | $82K | 14.74% |
| MORGAN STANLEY & CO. LLC | $66K | 11.88% |
| CLSA AMERICAS, LLC | $61K | 10.96% |
| BOFA SECURITIES, INC. | $58K | 10.55% |
| UBS AG | $57K | 10.21% |
| Citigroup Inc. | $53K | 9.56% |
| BANCO BTG PACTUAL S.A. | $33K | 5.94% |
| MACQUARIE CAPITAL (USA) INC. | $25K | 4.57% |
| JEFFERIES LLC | $18K | 3.26% |
IEMFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS AG | $2.0M | 48.32% |
| MORGAN STANLEY & CO. LLC | $1.4M | 33.59% |
| J.P. MORGAN SECURITIES LLC | $761K | 18.09% |
| JEFFERIES LLC | $2 | 0.00% |
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.