WSMDX Fees and Costs — William Blair Small-Mid Cap Growth Fund, Class I
Data updated: 2026-08-14
The net expense ratio is 0.99%: a 0.94% management fee plus 0.18% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $650K in broker commissions, 0.0439% of average net assets, and portfolio turnover was 57%.
WSMDX Fees and Expenses
Annual operating expenses and sales charges of WSMDX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.94% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.12% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.99% |
| 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 |
WSMDX Costs Over Time
On $10,000 invested in WSMDX, assuming 5% a year before costs, total costs come to $646 over 5 years, cutting the return by 1.09% 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 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $109 | $355 | $646 |
| Value after costs | $10,391 | $11,221 | $12,117 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
WSMDX 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): 0.0439%
- Total broker commissions: $650K
- Bought from dealers (principal trades, not a cost): $7.4B
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
WSMDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $111K | 22.31% |
| Piper Sandler & Co. | $64K | 12.90% |
| J.P. Morgan Securities LLC | $61K | 12.32% |
| Liquidnet, Inc. | $56K | 11.17% |
| Goldman Sachs & Co. LLC | $46K | 9.29% |
| Robert W. Baird & Co. Incorporated | $40K | 8.10% |
| Canaccord Genuity LLC | $35K | 7.07% |
| Virtu Americas LLC | $33K | 6.72% |
| Jefferies LLC | $25K | 5.09% |
| Morgan Stanley & Co. LLC | $25K | 5.03% |
WSMDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $7.4B | 99.52% |
| J.P. Morgan Securities LLC | $35.9M | 0.48% |
William Blair Small-Mid Cap 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 |
|---|---|---|---|
| WSMRX | Class R6 | 0.94% | none |
| WSMDX | Class I | 0.99% | none |
| WSMNX | 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.