AVEFX Fees and Costs — Ave Maria Bond Fund
Data updated: 2026-08-28
The net expense ratio is 0.40%: a 0.25% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $77K in broker commissions, 0.0103% of average net assets, and portfolio turnover was 13%.
AVEFX Fees and Expenses
Annual operating expenses and sales charges of AVEFX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.40% |
| Fee waiver | — |
| Net expense ratio | 0.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
AVEFX Costs Over Time
On $10,000 invested in AVEFX, assuming 5% a year before costs, total costs come to $260 over 5 years, cutting the return by 0.43% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $7 | $24 |
| Total costs | $43 | $142 | $260 |
| Value after costs | $10,457 | $11,434 | $12,503 |
| Impact on return, per year | 0.43% | 0.43% | 0.43% |
AVEFX 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): 0.0103%
- Total broker commissions: $77K
- Bought from dealers (principal trades, not a cost): $181.1M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
AVEFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG LLC | $53K | 68.13% |
| INSTINET LLC | $10K | 12.95% |
| BOFA SECURITIES, INC. | $8K | 10.82% |
| J.P. MORGAN SECURITIES LLC | $5K | 6.48% |
| STIFEL, NICOLAUS & CO., INC. | $750 | 0.97% |
| CJS SECURITIES, INC. | $500 | 0.65% |
AVEFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $71.0M | 39.19% |
| MARKETAXESS CORPORATION | $50.3M | 27.79% |
| JEFFERIES LLC | $40.2M | 22.19% |
| MORGAN STANLEY & CO., LLC | $11.1M | 6.15% |
| SUSQUEHANNA CAPITAL GROUP | $7.4M | 4.09% |
| JANE STREET EXECUTION SERVICES | $1.1M | 0.59% |
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.