IQDF Fees and Costs — FlexShares International Quality Dividend Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.47%: a 0.47% management fee plus 0.02% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $103K in broker commissions, 0.0150% of average net assets, and portfolio turnover was 61%.
IQDF Fees and Expenses
Annual operating expenses and sales charges of IQDF. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.49% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.47% |
| 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 |
IQDF Costs Over Time
On $10,000 invested in IQDF, assuming 5% a year before costs, total costs come to $307 over 5 years, cutting the return by 0.51% 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 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $168 | $307 |
| Value after costs | $10,449 | $11,409 | $12,456 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
IQDF 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): 0.0150%
- Total broker commissions: $103K
- Bought from dealers (principal trades, not a cost): $595.9M
- Portfolio turnover (prospectus): 61%
- Securities on loan, average value: $69.6M
- Net income from securities lending: $288K (0.042% of average net assets)
IQDF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $33K | 32.08% |
| Goldman Sachs & Co. LLC | $29K | 28.19% |
| J.P. Morgan Securities LLC | $22K | 21.52% |
| Scotia Capital (USA) Inc. | $6K | 5.67% |
| Macquarie Capital (USA) Inc. | $5K | 4.84% |
| Citigroup Global Markets Inc. | $4K | 3.60% |
| HSBC Securities (USA) Inc. | $2K | 1.60% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $1K | 1.41% |
| BofA Securities, Inc. | $853 | 0.83% |
| Credit Agricole Securities (USA) Inc. | $273 | 0.27% |
IQDF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $268.4M | 45.04% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $102.6M | 17.22% |
| J.P. Morgan Securities LLC | $95.2M | 15.98% |
| UBS Securities LLC | $92.5M | 15.51% |
| BofA Securities, Inc. | $36.4M | 6.10% |
| Morgan Stanley & Co. LLC | $882K | 0.15% |
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.