TSMDX Fees and Costs — Trillium ESG Small/Mid Cap Fund, Institutional Shares
Data updated: 2026-08-27
The net expense ratio is 0.97%: a 0.75% management fee plus 0.36% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $8K in broker commissions, 0.0232% of average net assets, and portfolio turnover was 20%.
TSMDX Fees and Expenses
Annual operating expenses and sales charges of TSMDX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.11% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
TSMDX Costs Over Time
On $10,000 invested in TSMDX, assuming 5% a year before costs, total costs come to $621 over 5 years, cutting the return by 1.04% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $342 | $621 |
| Value after costs | $10,396 | $11,235 | $12,141 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
TSMDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0232%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $15.3M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
TSMDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Evercore Inc. | $3K | 31.89% |
| PIPER SANDLER & CO. | $2K | 28.08% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $2K | 21.84% |
| J.P. MORGAN INVESTMENT MANAGEMENT INC. | $1K | 18.19% |
TSMDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $15.3M | 100.00% |
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.