MICDX Fees and Costs — Matthews China Dividend Fund, Institutional Class
Data updated: 2026-03-10
The net expense ratio is 1.19%: a 0.71% management fee plus 0.48% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $115K in broker commissions, 0.1232% of average net assets, and portfolio turnover was 76%.
MICDX Fees and Expenses
Annual operating expenses and sales charges of MICDX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.71% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.19% |
| Fee waiver | — |
| Net expense ratio | 1.19% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MICDX Costs Over Time
On $10,000 invested in MICDX, assuming 5% a year before costs, total costs come to $816 over 5 years, cutting the return by 1.38% 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 1.19%) | $125 | $389 | $672 |
| Trading costs (broker commissions) | $13 | $40 | $70 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $450 | $816 |
| Value after costs | $10,362 | $11,126 | $11,947 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
MICDX 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): 0.1232%
- Total broker commissions: $115K
- Bought from dealers (principal trades, not a cost): $633K
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
MICDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $26K | 25.04% |
| CitiGroup Global Markets Inc. | $16K | 16.12% |
| UBS Securities LLC | $13K | 12.52% |
| CLSA SINGAPORE PTE LTD | $12K | 11.90% |
| China International Capital Corporation Limited | $9K | 8.67% |
| Daiwa Securities Group Inc. | $8K | 7.68% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $7K | 6.91% |
| HSBC SECURITIES (USA) INC. | $4K | 4.21% |
| MACQUARIE CAPITAL (USA), INC. | $4K | 3.86% |
| MORGAN STANLEY & CO. LLC | $3K | 3.08% |
MICDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $405K | 63.96% |
| Macquarie Capital (USA) Inc. | $129K | 20.42% |
| CitiGroup Global Markets Inc. | $99K | 15.62% |
Matthews China Dividend Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MICDX | Institutional Class | 1.19% | — |
| MCDFX | Investor Class | 1.32% | — |
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.