MSTFX Fees and Costs — Morningstar International Equity Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 0.92%: a 0.76% management fee plus 0.24% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $699K in broker commissions, 0.0706% of average net assets, and portfolio turnover was 96%.
MSTFX Fees and Expenses
Annual operating expenses and sales charges of MSTFX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.76% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
MSTFX Costs Over Time
On $10,000 invested in MSTFX, assuming 5% a year before costs, total costs come to $620 over 5 years, cutting the return by 1.04% 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 0.92%) | $97 | $301 | $523 |
| Trading costs (broker commissions) | $7 | $23 | $40 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $341 | $620 |
| Value after costs | $10,396 | $11,236 | $12,143 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
MSTFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0706%
- Total broker commissions: $699K
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 96%
- Securities on loan, average value: $24.6M
- Net income from securities lending: $125K (0.013% of average net assets)
MSTFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $207K | 47.44% |
| CLSA AMERICAS, LLC | $45K | 10.37% |
| J.P. MORGAN SECURITIES LLC | $27K | 6.27% |
| UBS AG | $27K | 6.20% |
| JEFFERIES LLC. | $27K | 6.07% |
| GOLDMAN SACHS & CO. LLC | $25K | 5.66% |
| UBS GROUP AG | $21K | 4.84% |
| Citibank, National Association | $21K | 4.71% |
| MORGAN STANLEY & CO. LLC | $20K | 4.51% |
| Redburn (USA) LLC | $17K | 3.94% |
MSTFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $1.1B | 100.00% |
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.