SIEMX Fees and Costs — SIT Emerging Markets Equity Fund, Class F
Data updated: 2026-08-28
The net expense ratio is 1.42%: a 0.70% management fee plus 0.72% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.6M in broker commissions, 0.1106% of average net assets, and portfolio turnover was 75%.
SIEMX Fees and Expenses
Annual operating expenses and sales charges of SIEMX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.72% |
| Gross expense ratio | 1.42% |
| Fee waiver | — |
| Net expense ratio | 1.42% |
| 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 |
SIEMX Costs Over Time
On $10,000 invested in SIEMX, assuming 5% a year before costs, total costs come to $947 over 5 years, cutting the return by 1.61% 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 1.42%) | $149 | $463 | $798 |
| Trading costs (broker commissions) | $12 | $36 | $62 |
| Lost growth on money paid in costs | $0 | $25 | $87 |
| Total costs | $161 | $523 | $947 |
| Value after costs | $10,339 | $11,053 | $11,816 |
| Impact on return, per year | 1.61% | 1.61% | 1.61% |
SIEMX 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): 0.1106%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $3.5M
- Portfolio turnover (prospectus): 75%
- Securities lending: none during the year
SIEMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MACQUARIE CAPITAL | $300K | 22.55% |
| BTIG | $210K | 15.78% |
| J P MORGAN CHASE BANK | $184K | 13.84% |
| Bank Of America???Merrill | $183K | 13.80% |
| UBS SECURITIES | $163K | 12.29% |
| CITIGROUP | $70K | 5.26% |
| MORGAN STANLEY & CO, INC | $62K | 4.68% |
| JEFFERIES LLC | $59K | 4.44% |
| CLSA LTD | $49K | 3.72% |
| CREDIT LYONNAIS SECURITIES (USA) INC. | $48K | 3.63% |
SIEMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP | $2.7M | 77.04% |
| MACQUARIE CAPITAL | $494K | 14.03% |
| BTIG | $160K | 4.55% |
| LIQUIDNET | $154K | 4.37% |
SIT Emerging Markets Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SEQFX | Class Y | 1.17% | — |
| SIEMX | Class F | 1.42% | — |
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.