TLTE Fees and Costs — FlexShares Morningstar Emerging Markets Factor Tilt Index Fund
Data updated: 2026-09-25
The net expense ratio is 0.57%: a 0.57% management fee plus 0.01% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $43K in broker commissions, 0.0163% of average net assets, and portfolio turnover was 30%.
TLTE Fees and Expenses
Annual operating expenses and sales charges of TLTE. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.57% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.58% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.57% |
| 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 |
TLTE Costs Over Time
On $10,000 invested in TLTE, assuming 5% a year before costs, total costs come to $370 over 5 years, cutting the return by 0.62% 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 0.57%) | $60 | $188 | $327 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $202 | $370 |
| Value after costs | $10,438 | $11,374 | $12,393 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
TLTE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0163%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $34.3M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $10.4M
- Net income from securities lending: $199K (0.076% of average net assets)
TLTE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $17K | 40.54% |
| HSBC Securities (USA) Inc. | $11K | 26.33% |
| J.P. Morgan Securities LLC | $8K | 19.37% |
| Scotia Capital (USA) Inc. | $3K | 6.88% |
| Citigroup Global Markets Inc. | $1K | 3.38% |
| The Hong Kong and Shanghai Banking Corporation Limited | $937 | 2.20% |
| BofA Securities, Inc. | $256 | 0.60% |
| CLSA Americas, LLC | $127 | 0.30% |
| Morgan Stanley & Co. LLC | $86 | 0.20% |
| Goldman Sachs & Co. LLC | $86 | 0.20% |
TLTE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $26.8M | 78.16% |
| UBS Securities LLC | $3.1M | 8.98% |
| J.P. Morgan Securities LLC | $2.3M | 6.85% |
| Morgan Stanley & Co. LLC | $1.7M | 4.98% |
| Barclays Capital, Inc. | $188K | 0.55% |
| BofA Securities, Inc. | $165K | 0.48% |
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.