QICNX Fees and Costs — AQR International Multi-Style Fund, Class N
Data updated: 2026-08-27
The net expense ratio is 1.65%: a 0.40% management fee, a 0.25% 12b-1 fee plus 1.02% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $78K in broker commissions, 0.0122% of average net assets, and portfolio turnover was 67%.
QICNX Fees and Expenses
Annual operating expenses and sales charges of QICNX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.02% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.02% |
| Net expense ratio | 1.65% |
| 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 |
QICNX Costs Over Time
On $10,000 invested in QICNX, assuming 5% a year before costs, total costs come to $1,026 over 5 years, cutting the return by 1.75% 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 1.65%) | $173 | $537 | $925 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $175 | $568 | $1,026 |
| Value after costs | $10,325 | $11,009 | $11,737 |
| Impact on return, per year | 1.75% | 1.75% | 1.75% |
QICNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0122%
- Total broker commissions: $78K
- Bought from dealers (principal trades, not a cost): $653.4M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
QICNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $18K | 22.82% |
| Morgan Stanley & Co. LLC | $13K | 17.12% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $12K | 15.14% |
| UBS Securities LLC | $10K | 12.28% |
| Goldman Sachs & Co. LLC | $9K | 11.77% |
| Instinet, LLC | $9K | 11.10% |
| BNP Paribas Securities Corp. | $7K | 9.31% |
| BofA Securities, Inc. | $350 | 0.45% |
QICNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $653.4M | 100.00% |
| BNP Paribas Securities Corp. | $38 | 0.00% |
AQR International Multi-Style Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QICRX | Class R6 | 1.25% | — |
| QICLX | Class I | 1.37% | — |
| QICNX | Class N | 1.65% | — |
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.