QDF Fees and Costs — FlexShares Quality Dividend Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.39% (0.40% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0001% of average net assets, and portfolio turnover was 41%.
QDF Fees and Expenses
Annual operating expenses and sales charges of QDF. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.40% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.39% |
| 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 |
QDF Costs Over Time
On $10,000 invested in QDF, assuming 5% a year before costs, total costs come to $247 over 5 years, cutting the return by 0.41% 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 0.39%) | $41 | $129 | $224 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $135 | $247 |
| Value after costs | $10,459 | $11,441 | $12,516 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
QDF 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): 0.0001%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $2.6B
- Portfolio turnover (prospectus): 41%
- Securities on loan, average value: $149.2M
- Net income from securities lending: $210K (0.011% of average net assets)
QDF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $1K | 87.09% |
| BofA Securities, Inc. | $113 | 7.43% |
| Virtu Americas LLC | $82 | 5.38% |
| Goldman Sachs & Co. LLC | $1 | 0.10% |
QDF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.0B | 39.55% |
| UBS Securities LLC | $846.0M | 32.54% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $482.0M | 18.54% |
| Macquarie Capital (USA) Inc. | $177.5M | 6.82% |
| Virtu Americas LLC | $59.2M | 2.28% |
| Goldman Sachs & Co. LLC | $5.3M | 0.20% |
| ABN AMRO Clearing Chicago LLC | $1.9M | 0.07% |
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.