PPAEX Fees and Costs — GMO U.S. Opportunistic Value Fund, Class I
Data updated: 2026-07-29
The net expense ratio is 0.61%: a 0.46% management fee plus 0.21% other expenses, less a 0.06% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $42K in broker commissions, 0.0119% of average net assets, and portfolio turnover was 76%.
PPAEX Fees and Expenses
Annual operating expenses and sales charges of PPAEX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | — |
| Other expenses | 0.21% |
| Gross expense ratio | 0.67% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.61% |
| 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 |
PPAEX Costs Over Time
On $10,000 invested in PPAEX, assuming 5% a year before costs, total costs come to $392 over 5 years, cutting the return by 0.65% 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 0.61%) | $64 | $201 | $349 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $10 | $36 |
| Total costs | $65 | $215 | $392 |
| Value after costs | $10,435 | $11,362 | $12,371 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
PPAEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0119%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $76.6M
- Portfolio turnover (prospectus): 76%
- Securities on loan, average value: $79K
- Net income from securities lending: $45 (0.000% of average net assets)
PPAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $7K | 18.56% |
| Jefferies LLC | $6K | 15.65% |
| J.P. Morgan Securities LLC | $5K | 14.34% |
| Fidelity Brokerage Services LLC | $3K | 9.05% |
| SG Americas Securities, LLC | $3K | 8.75% |
| Goldman Sachs & Co. LLC | $3K | 8.51% |
| Virtu Americas LLC | $3K | 7.24% |
| TD Securities (USA) LLC | $2K | 6.56% |
| Morgan Stanley & Co. LLC | $2K | 6.06% |
| Citigroup Global Markets Inc. | $2K | 5.28% |
PPAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $76.6M | 100.00% |
GMO U.S. Opportunistic Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| UUOAX | Class VI | 0.40% | — |
| GUSOX | Class IV | 0.44% | — |
| PPADX | Class III | 0.49% | — |
| PPAJX | Class R6 | 0.50% | — |
| PPAEX | Class I | 0.61% | — |
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.