TQSAX Fees and Costs — T. Rowe Price Integrated U.S. Small-Mid Cap Core Equity Fund, Advisor Class
Data updated: 2026-08-27
The net expense ratio is 1.14%: a 0.63% management fee, a 0.25% 12b-1 fee plus 0.53% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $334K in broker commissions, 0.0408% of average net assets, and portfolio turnover was 48%.
TQSAX Fees and Expenses
Annual operating expenses and sales charges of TQSAX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.53% |
| Gross expense ratio | 1.41% |
| Fee waiver | −0.27% |
| Net expense ratio | 1.14% |
| 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 | Yes |
TQSAX Costs Over Time
On $10,000 invested in TQSAX, assuming 5% a year before costs, total costs come to $736 over 5 years, cutting the return by 1.24% 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 1.14%) | $120 | $373 | $645 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $124 | $405 | $736 |
| Value after costs | $10,376 | $11,171 | $12,027 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
TQSAX 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): 0.0408%
- Total broker commissions: $334K
- Bought from dealers (principal trades, not a cost): $11.9M
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $5.7M
- Net income from securities lending: $19K (0.002% of average net assets)
TQSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $41K | 17.08% |
| BOFA SECURITIES, INC. | $36K | 15.32% |
| J.P. MORGAN SECURITIES LLC | $29K | 12.27% |
| Jane Street Execution Services, LLC | $27K | 11.30% |
| JEFFERIES LLC | $22K | 9.17% |
| EVERCORE GROUP L.L.C. | $21K | 9.03% |
| Virtu ITG Hong Kong Limited | $19K | 8.06% |
| Citigroup Inc. | $16K | 6.82% |
| CITADEL SECURITIES INSTITUTIONAL LLC | $13K | 5.53% |
| BMO Capital Markets Corp. | $13K | 5.41% |
TQSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $2.1M | 24.40% |
| GOLDMAN SACHS & CO. LLC | $1.3M | 14.99% |
| JEFFERIES LLC | $1.1M | 12.07% |
| MORGAN STANLEY & CO. LLC | $1.0M | 11.68% |
| Citigroup Inc. | $1.0M | 11.46% |
| WELLS FARGO SECURITIES, LLC | $645K | 7.39% |
| BOFA SECURITIES, INC. | $520K | 5.95% |
| MIZUHO SECURITIES USA LLC | $398K | 4.56% |
| LEERINK PARTNERS LLC | $328K | 3.76% |
| TD Securities Ltd. | $327K | 3.75% |
T. Rowe Price Integrated U.S. Small-Mid Cap Core Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TQSIX | I Class | 0.68% | — |
| TQSMX | T. Rowe Price Integrated U.S. Small-Mid Cap Core Equity Fund | 0.87% | — |
| TQSAX | Advisor Class | 1.14% | — |
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.