SPFIX Fees and Costs — S&P 500 Index Fund, Investor Shares
Data updated: 2026-07-30
The net expense ratio is 0.42%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0040% of average net assets, and portfolio turnover was 10%.
SPFIX Fees and Expenses
Annual operating expenses and sales charges of SPFIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.42% |
| Fee waiver | — |
| Net expense ratio | 0.42% |
| 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 |
SPFIX Costs Over Time
On $10,000 invested in SPFIX, assuming 5% a year before costs, total costs come to $268 over 5 years, cutting the return by 0.45% 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 0.42%) | $44 | $138 | $242 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $45 | $147 | $268 |
| Value after costs | $10,455 | $11,430 | $12,495 |
| Impact on return, per year | 0.45% | 0.45% | 0.45% |
SPFIX 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): 0.0040%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $161.2M
- Portfolio turnover (prospectus): 10%
- Securities on loan, average value: $568K
- Net income from securities lending: $4K (0.001% of average net assets)
SPFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $8K | 73.44% |
| WOLVERINE EXECUTION SERVICES | $3K | 26.56% |
SPFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $90.4M | 56.05% |
| GOLDMAN SACHS & CO. LLC | $38.1M | 23.62% |
| MORGAN STANLEY SMITH BARNEY | $16.7M | 10.38% |
| WOLVERINE EXECUTION SERVICES | $16.0M | 9.94% |
S&P 500 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 |
|---|---|---|---|
| SPFIX | Investor Shares | 0.42% | — |
| SPXKX | K Shares | 0.92% | — |
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.