MCSMX Fees and Costs — Matthews China Small Companies Fund, Investor Class
Data updated: 2026-08-24
The net expense ratio is 1.40%: a 0.85% management fee plus 0.72% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $67K in broker commissions, 0.1016% of average net assets, and portfolio turnover was 37%.
MCSMX Fees and Expenses
Annual operating expenses and sales charges of MCSMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.72% |
| Gross expense ratio | 1.57% |
| Fee waiver | −0.17% |
| Net expense ratio | 1.40% |
| 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 |
MCSMX Costs Over Time
On $10,000 invested in MCSMX, assuming 5% a year before costs, total costs come to $930 over 5 years, cutting the return by 1.58% 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 1.40%) | $147 | $456 | $787 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $158 | $514 | $930 |
| Value after costs | $10,342 | $11,063 | $11,833 |
| Impact on return, per year | 1.58% | 1.58% | 1.58% |
MCSMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1016%
- Total broker commissions: $67K
- Bought from dealers (principal trades, not a cost): $385K
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
MCSMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $16K | 29.35% |
| UBS Securities LLC | $8K | 14.67% |
| China International Capital Corporation Limited | $7K | 13.05% |
| Daiwa Securities Group Inc. | $6K | 10.33% |
| J.P. MORGAN SECURITIES LLC | $4K | 7.56% |
| GOLDMAN SACHS & CO. LLC | $3K | 6.17% |
| CitiGroup Global Markets Inc. | $3K | 5.35% |
| BTIG, LLC | $3K | 5.00% |
| CLSA SINGAPORE PTE LTD | $2K | 4.49% |
| MORGAN STANLEY & CO. LLC | $2K | 4.03% |
MCSMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. | $385K | 100.00% |
Matthews China Small Companies Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MICHX | Institutional Class | 1.20% | — |
| MCSMX | Investor Class | 1.40% | — |
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.