NCLEX Fees and Costs — Nicholas Limited Edition, Inc., Class I
Data updated: 2026-09-22
The net expense ratio is 0.86%: a 0.75% management fee plus 0.11% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $197K in broker commissions, 0.0432% of average net assets, and portfolio turnover was 14%.
NCLEX Fees and Expenses
Annual operating expenses and sales charges of NCLEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 0.86% |
| Fee waiver | — |
| Net expense ratio | 0.86% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NCLEX Costs Over Time
On $10,000 invested in NCLEX, assuming 5% a year before costs, total costs come to $566 over 5 years, cutting the return by 0.95% 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 0.86%) | $90 | $282 | $490 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $311 | $566 |
| Value after costs | $10,405 | $11,265 | $12,197 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
NCLEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0432%
- Total broker commissions: $197K
- Bought from dealers (principal trades, not a cost): $288.0M
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
NCLEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $39K | 22.86% |
| UBS Securities LLC | $35K | 20.77% |
| Robert W. Baird & Co. Incorporated | $28K | 16.32% |
| William Blair & Company, LLC | $13K | 7.96% |
| Evercore Group L.L.C. | $12K | 7.14% |
| J.P. Morgan Securities, LLC | $12K | 7.04% |
| Barclays Capital Inc. | $9K | 5.14% |
| Raymond James & Associates Inc. | $7K | 4.37% |
| Jefferies, LLC | $7K | 4.21% |
| Piper Sandler & Co. | $7K | 4.20% |
NCLEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $288.0M | 100.00% |
Nicholas Limited Edition, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NCLEX | Class I | 0.86% | none |
| NNLEX | Class N | 1.16% | none |
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.