NFRA Fees and Costs — FlexShares STOXX Global Broad Infrastructure Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.47%: a 0.47% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $60K in broker commissions, 0.0023% of average net assets, and portfolio turnover was 13%.
NFRA Fees and Expenses
Annual operating expenses and sales charges of NFRA. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.48% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.47% |
| 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 | No |
NFRA Costs Over Time
On $10,000 invested in NFRA, assuming 5% a year before costs, total costs come to $299 over 5 years, cutting the return by 0.50% 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 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $50 | $163 | $299 |
| Value after costs | $10,450 | $11,413 | $12,464 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
NFRA 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): 0.0023%
- Total broker commissions: $60K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $202.7M
- Net income from securities lending: $784K (0.030% of average net assets)
NFRA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $22K | 37.18% |
| UBS Securities LLC | $19K | 31.61% |
| Citigroup Global Markets Inc. | $6K | 9.49% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 6.61% |
| Scotia Capital (USA) Inc. | $3K | 5.80% |
| HSBC Securities (USA) Inc. | $2K | 3.20% |
| BofA Securities, Inc. | $1K | 2.01% |
| Virtu Americas LLC | $1K | 1.91% |
| Macquarie Capital (USA) Inc. | $890 | 1.51% |
| Goldman Sachs & Co. LLC | $401 | 0.68% |
NFRA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $543.2M | 41.05% |
| UBS Securities LLC | $276.6M | 20.91% |
| Goldman Sachs & Co. LLC | $172.1M | 13.00% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $124.6M | 9.42% |
| BofA Securities, Inc. | $111.4M | 8.42% |
| Morgan Stanley & Co. LLC | $63.1M | 4.77% |
| Jefferies LLC | $32.2M | 2.44% |
| UniCredit Bank AG | $5K | 0.00% |
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.