NESIX Fees and Costs — Needham Small Cap Growth Fund, Institutional Class
Data updated: 2026-08-26
The net expense ratio is 1.19% (1.47% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $256K in broker commissions, 0.1783% of average net assets, and portfolio turnover was 48%.
NESIX Fees and Expenses
Annual operating expenses and sales charges of NESIX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.46% |
| Gross expense ratio | 1.47% |
| Fee waiver | −0.28% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
NESIX Costs Over Time
On $10,000 invested in NESIX, assuming 5% a year before costs, total costs come to $850 over 5 years, cutting the return by 1.44% 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 | $388 | $671 |
| Trading costs (broker commissions) | $19 | $58 | $101 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $144 | $469 | $850 |
| Value after costs | $10,356 | $11,108 | $11,913 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
NESIX 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): 0.1783%
- Total broker commissions: $256K
- Bought from dealers (principal trades, not a cost): $204K
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
NESIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Needham and Co. | $59K | 28.47% |
| Oppenheimer & Co. Inc. | $30K | 14.76% |
| Rosenblatt Securities, Inc. | $20K | 9.83% |
| J.P. MORGAN SECURITIES LLC | $18K | 8.90% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $18K | 8.51% |
| Stifel Nicolaus and Co. Inc. | $16K | 7.60% |
| Northland Securities Inc. | $14K | 6.65% |
| Goldman Sachs and Co. | $14K | 6.60% |
| D.A. DAVIDSON & CO. | $11K | 5.32% |
| Pershing, LLC. | $7K | 3.35% |
NESIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs and Co. | $72K | 35.05% |
| J.P. MORGAN SECURITIES LLC | $62K | 30.46% |
| Jefferies & Company Inc. | $61K | 29.74% |
| Morgan Stanley and Co. Inc. | $10K | 4.75% |
Needham Small Cap Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NESIX | Institutional Class | 1.19% | — |
| NESGX | Retail Class | 1.79% | — |
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.