TFESX Fees and Costs — International Equity Series, Service Shares
Data updated: 2026-08-27
The net expense ratio is 1.41%: a 0.78% management fee plus 0.66% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $97K in broker commissions, 0.1456% of average net assets, and portfolio turnover was 56%.
TFESX Fees and Expenses
Annual operating expenses and sales charges of TFESX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.78% |
| 12b-1 fee | — |
| Other expenses | 0.66% |
| Gross expense ratio | 1.45% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.41% |
| 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 |
TFESX Costs Over Time
On $10,000 invested in TFESX, assuming 5% a year before costs, total costs come to $962 over 5 years, cutting the return by 1.63% 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 1.41%) | $148 | $459 | $792 |
| Trading costs (broker commissions) | $15 | $47 | $82 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $163 | $532 | $962 |
| Value after costs | $10,337 | $11,044 | $11,801 |
| Impact on return, per year | 1.63% | 1.63% | 1.63% |
TFESX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1456%
- Total broker commissions: $97K
- Bought from dealers (principal trades, not a cost): $61.0M
- Portfolio turnover (prospectus): 56%
- Securities on loan, average value: $547K
- Net income from securities lending: $1K (0.002% of average net assets)
TFESX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $22K | 25.62% |
| Citigroup Global Markets Inc. | $17K | 19.41% |
| Jefferies LLC | $12K | 13.46% |
| UBS Securities LLC | $7K | 7.93% |
| Virtu Americas LLC | $7K | 7.79% |
| Goldman Sachs & Co. LLC | $6K | 6.97% |
| Liquidnet, Inc. | $6K | 6.52% |
| Morgan Stanley & Co. LLC | $4K | 4.97% |
| RBC Capital Markets, LLC | $3K | 3.75% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $3K | 3.58% |
TFESX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $60.8M | 99.68% |
| UBS Securities LLC | $132K | 0.22% |
| Fiduciary Trust Company International | $64K | 0.11% |
International Equity Series Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TFEQX | Primary Shares | 1.17% | — |
| TFESX | Service Shares | 1.41% | — |
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.