AVEMX Fees and Costs — Ave Maria Value Fund
Data updated: 2026-08-28
The net expense ratio is 0.92%: a 0.75% management fee plus 0.16% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $220K in broker commissions, 0.0449% of average net assets, and portfolio turnover was 24%.
AVEMX Fees and Expenses
Annual operating expenses and sales charges of AVEMX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 0.92% |
| Fee waiver | — |
| Net expense ratio | 0.92% |
| 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 |
AVEMX Costs Over Time
On $10,000 invested in AVEMX, assuming 5% a year before costs, total costs come to $604 over 5 years, cutting the return by 1.01% 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 0.92%) | $97 | $302 | $523 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $16 | $55 |
| Total costs | $101 | $332 | $604 |
| Value after costs | $10,399 | $11,244 | $12,159 |
| Impact on return, per year | 1.01% | 1.01% | 1.01% |
AVEMX 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): 0.0449%
- Total broker commissions: $220K
- Bought from dealers (principal trades, not a cost): $11.1M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
AVEMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING INSTITUTIONAL SERVICES LLC | $58K | 26.13% |
| BOFA SECURITIES, INC. | $52K | 23.45% |
| RAYMOND JAMES and ASSOCIATES, INC. | $38K | 17.45% |
| BTIG LLC | $23K | 10.30% |
| STRATEGAS RESEARCH PARTNERS, LLC | $16K | 7.17% |
| STIFEL NICOLAUS and COMPANY INC | $15K | 6.74% |
| MORGAN STANLEY & CO., LLC | $9K | 4.22% |
| INSTINET LLC | $5K | 2.27% |
| J.P. MORGAN SECURITIES LLC | $3K | 1.52% |
| CJS SECURITIES, INC. | $2K | 0.76% |
AVEMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $11.1M | 100.00% |
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.