SMLKX Fees and Costs — S&P SmallCap Index Fund, K Shares
Data updated: 2026-07-30
The net expense ratio is 1.36%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $20K in broker commissions, 0.0409% of average net assets, and portfolio turnover was 20%.
SMLKX Fees and Expenses
Annual operating expenses and sales charges of SMLKX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SMLKX Costs Over Time
On $10,000 invested in SMLKX, assuming 5% a year before costs, total costs come to $869 over 5 years, cutting the return by 1.47% 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 1.36%) | $143 | $444 | $766 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $147 | $480 | $869 |
| Value after costs | $10,353 | $11,097 | $11,894 |
| Impact on return, per year | 1.47% | 1.47% | 1.47% |
SMLKX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0409%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $38.5M
- Portfolio turnover (prospectus): 20%
- Securities on loan, average value: $568K
- Net income from securities lending: $4K (0.007% of average net assets)
SMLKX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $13K | 62.10% |
| WOLVERINE EXECUTION SERVICES | $8K | 37.90% |
SMLKX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $19.1M | 49.56% |
| WOLVERINE EXECUTION SERVICES | $8.7M | 22.49% |
| GOLDMAN SACHS & CO. LLC | $7.4M | 19.16% |
| MORGAN STANLEY SMITH BARNEY | $3.4M | 8.80% |
S&P SmallCap Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMCIX | Investor Shares | 0.86% | — |
| SMLKX | K Shares | 1.36% | — |
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.