AVEWX Fees and Costs — Ave Maria World Equity Fund
Data updated: 2026-08-28
The net expense ratio is 1.01%: a 0.75% management fee plus 0.26% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $77K in broker commissions, 0.0606% of average net assets, and portfolio turnover was 19%.
AVEWX Fees and Expenses
Annual operating expenses and sales charges of AVEWX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.26% |
| Gross expense ratio | 1.01% |
| Fee waiver | — |
| Net expense ratio | 1.01% |
| 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 |
AVEWX Costs Over Time
On $10,000 invested in AVEWX, assuming 5% a year before costs, total costs come to $669 over 5 years, cutting the return by 1.12% 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 1.01%) | $106 | $331 | $573 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $368 | $669 |
| Value after costs | $10,388 | $11,208 | $12,094 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
AVEWX 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): 0.0606%
- Total broker commissions: $77K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 19%
- Securities lending: none during the year
AVEWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $39K | 50.88% |
| BTIG LLC | $28K | 36.55% |
| CJS SECURITIES, INC. | $3K | 4.33% |
| STRATEGAS RESEARCH PARTNERS, LLC | $3K | 3.52% |
| RAYMOND JAMES & ASSOCIATES, INC | $2K | 2.57% |
| INSTINET LLC | $720 | 0.94% |
| MORGAN STANLEY & CO., LLC | $500 | 0.65% |
| J.P. MORGAN SECURITIES LLC | $430 | 0.56% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.