SECAX Fees and Costs — Siit Small Cap II Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 0.72%: a 0.65% management fee plus 0.07% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $363K in broker commissions, 0.1487% of average net assets, and portfolio turnover was 104%.
SECAX Fees and Expenses
Annual operating expenses and sales charges of SECAX. Prospectus, as of September 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.07% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| 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 |
SECAX Costs Over Time
On $10,000 invested in SECAX, assuming 5% a year before costs, total costs come to $545 over 5 years, cutting the return by 0.91% 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 0.72%) | $76 | $236 | $410 |
| Trading costs (broker commissions) | $16 | $49 | $85 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $299 | $545 |
| Value after costs | $10,409 | $11,277 | $12,218 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
SECAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1487%
- Total broker commissions: $363K
- Bought from dealers (principal trades, not a cost): $5.4M
- Portfolio turnover (prospectus): 104%
- Securities lending: none during the year
SECAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET | $117K | 38.09% |
| SANFORD C. BERNSTEIN & CO., LLC | $93K | 30.34% |
| GOLDMAN, SACHS & CO. | $27K | 8.68% |
| BMO CAPITAL | $24K | 7.64% |
| VIRTU FINANCIAL BD LLC | $9K | 3.01% |
| RAYMOND JAMES | $9K | 2.84% |
| MORGAN STANLEY & CO, INC | $9K | 2.80% |
| J P MORGAN CHASE BANK | $8K | 2.57% |
| RBC CAPITAL | $7K | 2.31% |
| PIPER, G W, & COMPANY, INC. | $5K | 1.73% |
SECAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J P MORGAN CHASE BANK | $5.3M | 98.15% |
| RBC CAPITAL | $100K | 1.85% |
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.