SSMAX Fees and Costs — Siit Small/mid Cap 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 $756K in broker commissions, 0.0857% of average net assets, and portfolio turnover was 76%.
SSMAX Fees and Expenses
Annual operating expenses and sales charges of SSMAX. 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 |
SSMAX Costs Over Time
On $10,000 invested in SSMAX, 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 0.72%) | $76 | $236 | $411 |
| Trading costs (broker commissions) | $9 | $28 | $49 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $85 | $278 | $506 |
| Value after costs | $10,415 | $11,299 | $12,257 |
| Impact on return, per year | 0.85% | 0.85% | 0.85% |
SSMAX 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): 0.0857%
- Total broker commissions: $756K
- Bought from dealers (principal trades, not a cost): $12.6M
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
SSMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CAPIS | $250K | 42.93% |
| BLAIR, WILLIAM, & COMPANY, L.L.C. | $78K | 13.37% |
| RBC CAPITAL | $58K | 9.88% |
| INSTINET | $47K | 8.06% |
| MORGAN STANLEY & CO, INC | $44K | 7.58% |
| JONES (OPTIONS) | $40K | 6.89% |
| BRUSOPCO-KS | $23K | 3.97% |
| J P MORGAN CHASE BANK | $15K | 2.53% |
| CITIGROUP | $14K | 2.45% |
| STATE STREET | $14K | 2.34% |
SSMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J P MORGAN CHASE BANK | $12.1M | 96.11% |
| RBC CAPITAL | $490K | 3.89% |
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.