BMVSX Fees and Costs — Baird Small/Mid Cap Value Fund, Investor Class
Data updated: 2021-11-24
The net expense ratio is 1.10%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.90% other expenses, less a 0.80% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $53K in broker commissions, 0.2490% of average net assets, and portfolio turnover was 84%.
BMVSX Fees and Expenses
Annual operating expenses and sales charges of BMVSX. Prospectus, as of April 30, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.90% |
| Gross expense ratio | 1.90% |
| Fee waiver | −0.80% |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BMVSX Costs Over Time
On $10,000 invested in BMVSX, assuming 5% a year before costs, total costs come to $838 over 5 years, cutting the return by 1.42% 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 1.10%) | $116 | $359 | $620 |
| Trading costs (broker commissions) | $26 | $81 | $140 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $462 | $838 |
| Value after costs | $10,358 | $11,114 | $11,925 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
BMVSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.2490%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 84%
- Securities lending: none during the year
BMVSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $20K | 38.54% |
| RAYMOND JAMES & ASSOCIATES, INC. | $10K | 18.61% |
| WELLS FARGO SECURITIES, LLC | $7K | 14.08% |
| JEFFERIES LLC | $5K | 8.74% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $4K | 8.35% |
| BARCLAYS CAPITAL INC. | $2K | 3.70% |
| SEAPORT GLOBAL SECURITIES LLC | $2K | 3.58% |
| LEHMAN BROTHERS INC. | $903 | 1.73% |
| DOUGHERTY & COMPANY LLC | $815 | 1.56% |
| RBC CAPITAL MARKETS, LLC | $579 | 1.11% |
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.