QIMLX Fees and Costs — AQR TM International Multi-Style Fund, Class I
Data updated: 2021-02-24
The net expense ratio is 0.60%: a 0.45% management fee plus 0.24% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $27K in broker commissions, 0.0144% of average net assets, and portfolio turnover was 68%.
QIMLX Fees and Expenses
Annual operating expenses and sales charges of QIMLX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.24% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.60% |
| 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 |
QIMLX Costs Over Time
On $10,000 invested in QIMLX, assuming 5% a year before costs, total costs come to $387 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 0.60%) | $63 | $197 | $344 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $65 | $212 | $387 |
| Value after costs | $10,435 | $11,364 | $12,376 |
| Impact on return, per year | 0.65% | 0.65% | 0.65% |
QIMLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0144%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $190.2M
- Portfolio turnover (prospectus): 68%
- Securities on loan, average value: $785K
- Net income from securities lending: $11K (0.006% of average net assets)
QIMLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7K | 26.70% |
| Goldman Sachs & Co. LLC | $6K | 22.39% |
| Credit Suisse Securities (USA) LLC | $3K | 12.16% |
| Morgan Stanley & Co. LLC | $3K | 11.41% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $3K | 11.15% |
| UBS Securities LLC | $2K | 8.67% |
| Deutsche Bank Securities Inc. | $2K | 5.68% |
| CIBC World Markets Corp. | $416 | 1.52% |
| The Toronto-Dominion Bank | $62 | 0.23% |
| BofA Securities, Inc. | $26 | 0.09% |
QIMLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $190.2M | 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.