WIORX Fees and Costs — Wilshire Income Opportunities Fund, Investment Class
Data updated: 2026-08-24
The net expense ratio is 1.15%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.53% other expenses, less a 0.23% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $11K in broker commissions, 0.0057% of average net assets, and portfolio turnover was 67%.
WIORX Fees and Expenses
Annual operating expenses and sales charges of WIORX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.53% |
| Gross expense ratio | 1.38% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.15% |
| 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 |
WIORX Costs Over Time
On $10,000 invested in WIORX, assuming 5% a year before costs, total costs come to $721 over 5 years, cutting the return by 1.21% 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 1.15%) | $121 | $376 | $651 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $121 | $397 | $721 |
| Value after costs | $10,379 | $11,180 | $12,042 |
| Impact on return, per year | 1.21% | 1.21% | 1.21% |
WIORX 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): 0.0057%
- Total broker commissions: $11K
- Bought from dealers (principal trades, not a cost): $339.2M
- Portfolio turnover (prospectus): 67%
- Securities on loan, average value: $804K
- Net income from securities lending: $7K (0.004% of average net assets)
WIORX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $9K | 84.48% |
| GOLDMAN SACHS & CO. LLC | $854 | 8.10% |
| J.P. MORGAN SECURITIES LLC | $393 | 3.73% |
| CITIGROUP GLOBAL MARKETS INC. | $276 | 2.62% |
| UBS SECURITIES LLC | $77 | 0.73% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $36 | 0.35% |
WIORX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES INC. | $78.8M | 30.80% |
| GOLDMAN SACHS & CO. LLC | $28.5M | 11.16% |
| J.P. MORGAN SECURITIES LLC | $25.8M | 10.09% |
| MORGAN STANLEY & CO. LLC | $25.6M | 10.00% |
| BARCLAYS CAPITAL INC. | $22.8M | 8.92% |
| NOMURA SECURITIES INTERNATIONAL INC. | $18.5M | 7.23% |
| CITADEL SECURITIES LLC | $16.1M | 6.29% |
| CITIGROUP GLOBAL MARKETS INC. | $15.8M | 6.19% |
| WELLS FARGO SECURITIES LLC | $12.7M | 4.97% |
| DEUTSCHE BANK SECURITIES INC. | $11.1M | 4.35% |
Wilshire Income Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| WIOPX | Institutional Class | 0.90% | — |
| WIORX | Investment Class | 1.15% | — |
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.