SIVIX Fees and Costs — State Street Institutional Small-Cap Equity Fund, Investment Class
Data updated: 2026-08-28
The net expense ratio is 0.75% (0.91% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $358K in broker commissions, 0.0552% of average net assets, and portfolio turnover was 45%.
SIVIX Fees and Expenses
Annual operating expenses and sales charges of SIVIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.91% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.91% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SIVIX Costs Over Time
On $10,000 invested in SIVIX, assuming 5% a year before costs, total costs come to $506 over 5 years, cutting the return by 0.85% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $85 | $277 | $506 |
| Value after costs | $10,415 | $11,299 | $12,257 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
SIVIX 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): 0.0552%
- Total broker commissions: $358K
- Bought from dealers (principal trades, not a cost): $567.0M
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
SIVIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $51K | 24.90% |
| Robert W. Baird & Co. Incorporated | $37K | 18.02% |
| Jefferies LLC | $23K | 11.39% |
| JonesTrading Institutional Services LLC | $18K | 8.95% |
| Liquidnet, Inc. | $18K | 8.68% |
| Goldman Sachs & Co. LLC | $13K | 6.55% |
| Nomura Securities International, Inc. | $12K | 5.71% |
| Cantor Fitzgerald & Co. | $12K | 5.69% |
| Virtu Americas LLC | $11K | 5.18% |
| KeyBanc Capital Markets Inc. | $10K | 4.90% |
SIVIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $564.5M | 99.56% |
| J.P. Morgan Securities LLC | $622K | 0.11% |
| Goldman Sachs & Co. LLC | $607K | 0.11% |
| Morgan Stanley & Co. LLC | $576K | 0.10% |
| BNY Capital Markets, LLC | $365K | 0.06% |
| Citigroup Global Markets Inc. | $326K | 0.06% |
State Street Institutional Small-Cap 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 |
|---|---|---|---|
| SIVIX | Investment Class | 0.75% | none |
| SSQSX | Service Class | 1.00% | none |
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.