NASDX Fees and Costs — Nasdaq-100 Index Fund, Investor Shares
Data updated: 2026-07-30
The net expense ratio is 0.52% (0.64% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $105K in broker commissions, 0.0059% of average net assets, and portfolio turnover was 15%.
NASDX Fees and Expenses
Annual operating expenses and sales charges of NASDX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.64% |
| Fee waiver | −0.12% |
| Net expense ratio | 0.52% |
| 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 |
NASDX Costs Over Time
On $10,000 invested in NASDX, assuming 5% a year before costs, total costs come to $332 over 5 years, cutting the return by 0.55% 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 0.52%) | $55 | $171 | $298 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $9 | $30 |
| Total costs | $55 | $182 | $332 |
| Value after costs | $10,445 | $11,395 | $12,431 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
NASDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0059%
- Total broker commissions: $105K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $27.3M
- Net income from securities lending: $39K (0.002% of average net assets)
NASDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $63K | 59.92% |
| WOLVERINE EXECUTION SERVICES | $42K | 40.08% |
NASDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $789.8M | 54.73% |
| WOLVERINE EXECUTION SERVICES | $244.4M | 16.94% |
| GOLDMAN SACHS & CO. LLC | $240.6M | 16.67% |
| MORGAN STANLEY SMITH BARNEY | $168.4M | 11.67% |
Nasdaq-100 Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NQQQX | Institutional Shares | 0.27% | — |
| NASDX | Investor Shares | 0.52% | — |
| NDXKX | K Shares | 0.77% | — |
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.