WBENX Fees and Costs — William Blair Emerging Markets Growth Fund, Class N
Data updated: 2026-08-14
The net expense ratio is 1.24%: a 0.94% management fee, a 0.25% 12b-1 fee plus 0.24% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.1151% of average net assets, and portfolio turnover was 84%.
WBENX Fees and Expenses
Annual operating expenses and sales charges of WBENX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.94% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.24% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.19% |
| Net expense ratio | 1.24% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
WBENX Costs Over Time
On $10,000 invested in WBENX, assuming 5% a year before costs, total costs come to $842 over 5 years, cutting the return by 1.42% 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 1.24%) | $130 | $405 | $699 |
| Trading costs (broker commissions) | $12 | $38 | $65 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $464 | $842 |
| Value after costs | $10,358 | $11,112 | $11,921 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
WBENX 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): 0.1151%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $1.8B
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
WBENX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $211K | 22.49% |
| J.P. Morgan Securities LLC | $170K | 18.17% |
| BofA Securities, Inc. | $137K | 14.67% |
| CLSA Americas, LLC | $112K | 11.93% |
| UBS Securities LLC | $111K | 11.83% |
| Jefferies LLC | $90K | 9.65% |
| SG Americas Securities, LLC | $35K | 3.72% |
| Goldman Sachs & Co. LLC | $26K | 2.79% |
| Nomura Securities International, Inc. | $25K | 2.70% |
| Eurobank Ergasias Services and Holdings S.A. | $19K | 2.06% |
WBENX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.8B | 99.96% |
| Morgan Stanley & Co. LLC | $685K | 0.04% |
William Blair Emerging Markets Growth Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BIEMX | Class R6 | 0.94% | none |
| WBEIX | Class I | 0.99% | none |
| WBENX | Class N | 1.24% | none |
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.