ASVRX Fees and Costs — Small Cap Value Fund, R Class
Data updated: 2026-08-28
The net expense ratio is 1.60%: a 1.10% management fee plus a 0.50% 12b-1 fee. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.7M in broker commissions, 0.0408% of average net assets, and portfolio turnover was 42%.
ASVRX Fees and Expenses
Annual operating expenses and sales charges of ASVRX. Prospectus, as of August 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.60% |
| Fee waiver | — |
| Net expense ratio | 1.60% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
ASVRX Costs Over Time
On $10,000 invested in ASVRX, assuming 5% a year before costs, total costs come to $1,013 over 5 years, cutting the return by 1.72% 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 1.60%) | $168 | $521 | $897 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $27 | $93 |
| Total costs | $172 | $561 | $1,013 |
| Value after costs | $10,328 | $11,016 | $11,750 |
| Impact on return, per year | 1.72% | 1.72% | 1.72% |
ASVRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0408%
- Total broker commissions: $1.7M
- Bought from dealers (principal trades, not a cost): $4.8B
- Portfolio turnover (prospectus): 42%
- Securities on loan, average value: $14.3M
- Net income from securities lending: $90K (0.002% of average net assets)
ASVRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA MERRILL LYNCH | $215K | 14.27% |
| BERNSTEIN INSTITUTIONAL SERVICES | $212K | 14.10% |
| UBS WARBURG | $204K | 13.55% |
| J.P. MORGAN SECURITIES | $200K | 13.26% |
| MORGAN STANLEY | $198K | 13.13% |
| CITIGROUP CAPITAL MARKETS INC. | $162K | 10.77% |
| EVERCORE ISI INVESTMENT GROUP | $111K | 7.36% |
| BARCLAYS CAPITAL | $101K | 6.68% |
| GOLDMAN SACHS | $63K | 4.18% |
| KEYBANC CAPITAL MARKETS | $41K | 2.70% |
ASVRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS LLC | $4.0B | 82.55% |
| CITIGROUP CAPITAL MARKETS INC. | $321.7M | 6.67% |
| BMO CAPITAL MARKETS | $223.5M | 4.64% |
| GOLDMAN SACHS | $97.0M | 2.01% |
| BANK OF AMERICA MERRILL LYNCH | $70.6M | 1.46% |
| J.P. MORGAN SECURITIES | $46.6M | 0.97% |
| MORGAN STANLEY | $40.4M | 0.84% |
| ROBERT W BAIRD | $19.6M | 0.41% |
| UBS WARBURG | $19.1M | 0.40% |
| PIPER SANDLER & CO | $2.6M | 0.05% |
Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ASVHX | G Class | 0.00% | none |
| ASVDX | R6 Class | 0.75% | none |
| ASVYX | Y Class | 0.75% | none |
| ACVIX | I Class | 0.90% | none |
| ASVGX | R5 Class | 0.90% | none |
| ASVIX | Investor Class | 1.10% | none |
| ACSCX | A Class | 1.35% | 5.75% |
| ASVRX | R Class | 1.60% | none |
| ASVNX | C Class | 2.10% | 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.