MFEM Fees and Costs — PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
Data updated: 2026-09-14
The net expense ratio is 0.49%: a 0.49% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $49K in broker commissions, 0.0393% of average net assets, and portfolio turnover was 40%.
MFEM Fees and Expenses
Annual operating expenses and sales charges of MFEM. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.50% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.49% |
| 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 |
MFEM Costs Over Time
On $10,000 invested in MFEM, assuming 5% a year before costs, total costs come to $334 over 5 years, cutting the return by 0.56% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $334 |
| Value after costs | $10,444 | $11,393 | $12,429 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
MFEM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0393%
- Total broker commissions: $49K
- Bought from dealers (principal trades, not a cost): $36.0M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $2K
- Net income from securities lending: —
MFEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Nomura Securities International, Inc. | $15K | 31.70% |
| Morgan Stanley & Co. LLC | $14K | 29.42% |
| J.P. Morgan Securities LLC | $7K | 14.98% |
| Eurobank Ergasias Services and Holdings S.A. | $3K | 6.72% |
| Goldman Sachs & Co. LLC | $3K | 6.11% |
| ICICI Securities Inc. | $3K | 5.58% |
| BofA Securities, Inc. | $1K | 2.97% |
| Citigroup Global Markets Inc. | $608 | 1.26% |
| Korea Investment & Securities America, Inc. | $369 | 0.76% |
| Barclays Capital Inc. | $252 | 0.52% |
MFEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $31.3M | 87.41% |
| J.P. Morgan Securities LLC | $4.5M | 12.59% |
| UBS Securities LLC | $1 | 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.