IQDY Fees and Costs — FlexShares International Quality Dividend Dynamic Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.47%: a 0.47% management fee plus 0.04% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $13K in broker commissions, 0.0178% of average net assets, and portfolio turnover was 65%.
IQDY Fees and Expenses
Annual operating expenses and sales charges of IQDY. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.51% |
| Fee waiver | −0.04% |
| 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 |
IQDY Costs Over Time
On $10,000 invested in IQDY, assuming 5% a year before costs, total costs come to $308 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 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $169 | $308 |
| Value after costs | $10,449 | $11,408 | $12,455 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
IQDY 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): 0.0178%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $66.7M
- Portfolio turnover (prospectus): 65%
- Securities on loan, average value: $9.0M
- Net income from securities lending: $39K (0.055% of average net assets)
IQDY Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $4K | 34.06% |
| J.P. Morgan Securities LLC | $3K | 25.39% |
| Goldman Sachs & Co. LLC | $3K | 24.16% |
| Scotia Capital (USA) Inc. | $591 | 4.72% |
| Citigroup Global Markets Inc. | $364 | 2.91% |
| Macquarie Capital (USA) Inc. | $339 | 2.71% |
| Virtu Americas LLC | $333 | 2.66% |
| HSBC Securities (USA) Inc. | $173 | 1.38% |
| Morgan Stanley & Co. LLC | $159 | 1.27% |
| BofA Securities, Inc. | $92 | 0.74% |
IQDY Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $27.8M | 41.76% |
| J.P. Morgan Securities LLC | $12.3M | 18.46% |
| UBS Securities LLC | $10.5M | 15.75% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $10.5M | 15.69% |
| BofA Securities, Inc. | $3.4M | 5.12% |
| BNP Paribas Securities Corp. | $1.2M | 1.82% |
| Virtu Americas LLC | $816K | 1.22% |
| Morgan Stanley & Co. LLC | $122K | 0.18% |
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.