MJFOX Fees and Costs — Matthews Japan Fund, Investor Class
Data updated: 2026-08-24
The net expense ratio is 1.16%: a 0.72% management fee plus 0.44% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.3M in broker commissions, 0.1975% of average net assets, and portfolio turnover was 107%.
MJFOX Fees and Expenses
Annual operating expenses and sales charges of MJFOX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| 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 |
MJFOX Costs Over Time
On $10,000 invested in MJFOX, assuming 5% a year before costs, total costs come to $843 over 5 years, cutting the return by 1.43% 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 1.16%) | $122 | $379 | $654 |
| Trading costs (broker commissions) | $21 | $64 | $111 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $143 | $465 | $843 |
| Value after costs | $10,357 | $11,111 | $11,920 |
| Impact on return, per year | 1.43% | 1.43% | 1.43% |
MJFOX 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): 0.1975%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): $21.8M
- Portfolio turnover (prospectus): 107%
- Securities lending: none during the year
MJFOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Daiwa Securities Group Inc. | $304K | 27.44% |
| INSTINET, LLC | $212K | 19.20% |
| SMBC NIKKO CAPITAL MARKETS LIMITED | $143K | 12.88% |
| Mizuho Securities Co., Ltd. | $127K | 11.45% |
| CITIGROUP GLOBAL MARKETS INC. | $76K | 6.89% |
| MORGAN STANLEY & CO. LLC | $75K | 6.79% |
| CLSA SINGAPORE PTE LTD | $60K | 5.42% |
| MACQUARIE CAPITAL (USA), INC. | $40K | 3.64% |
| UBS Securities LLC | $38K | 3.42% |
| GOLDMAN SACHS & CO. LLC | $32K | 2.88% |
MJFOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SMBC NIKKO CAPITAL MARKETS LIMITED | $11.3M | 51.51% |
| GOLDMAN SACHS & CO. LLC | $7.1M | 32.36% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $3.5M | 16.13% |
Matthews Japan Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MIJFX | Institutional Class | 1.10% | — |
| MJFOX | Investor Class | 1.16% | — |
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.