NGREX Fees and Costs — Global Real Estate Index Fund
Data updated: 2026-08-28
The net expense ratio is 0.51%: a 0.40% management fee plus 0.14% other expenses, less a 0.03% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $148K in broker commissions, 0.0186% of average net assets, and portfolio turnover was 4%.
NGREX Fees and Expenses
Annual operating expenses and sales charges of NGREX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.54% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.51% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
NGREX Costs Over Time
On $10,000 invested in NGREX, assuming 5% a year before costs, total costs come to $334 over 5 years, cutting the return by 0.56% 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 0.51%) | $54 | $168 | $293 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $9 | $30 |
| Total costs | $56 | $183 | $334 |
| Value after costs | $10,444 | $11,394 | $12,429 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
NGREX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0186%
- Total broker commissions: $148K
- Bought from dealers (principal trades, not a cost): $340.2M
- Portfolio turnover (prospectus): 4%
- Securities on loan, average value: $3.1M
- Net income from securities lending: $22K (0.003% of average net assets)
NGREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $25K | 19.73% |
| GOLDMAN SACHS & CO. LLC | $18K | 13.71% |
| UBS AG | $17K | 13.41% |
| GOLDMAN SACHS INTERNATIONAL | $14K | 11.15% |
| MACQUARIE BANK LIMITED | $12K | 9.35% |
| MORGAN STANLEY & CO. LLC | $11K | 8.34% |
| Citibank, National Association | $11K | 8.21% |
| HSBC SECURITIES (USA) INC. | $8K | 6.23% |
| HSBC BANK PLC | $7K | 5.57% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $6K | 4.29% |
NGREX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $340.2M | 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.