BRSVX Fees and Costs — Small-Cap Value Fund, Class N
Data updated: 2026-09-02
The net expense ratio is 0.90%: a 0.64% management fee plus 0.26% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $170K in broker commissions, 0.0506% of average net assets, and portfolio turnover was 63%.
BRSVX Fees and Expenses
Annual operating expenses and sales charges of BRSVX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.26% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BRSVX Costs Over Time
On $10,000 invested in BRSVX, assuming 5% a year before costs, total costs come to $595 over 5 years, cutting the return by 1.00% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $327 | $595 |
| Value after costs | $10,400 | $11,249 | $12,168 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
BRSVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0506%
- Total broker commissions: $170K
- Bought from dealers (principal trades, not a cost): $58
- Portfolio turnover (prospectus): 63%
- Securities on loan, average value: $27.4M
- Net income from securities lending: $39K (0.012% of average net assets)
BRSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $92K | 54.32% |
| JONESTRADING | $40K | 23.63% |
| VIRTU AMERICAS LLC | $25K | 14.53% |
| CAPITAL INSTITUTIONAL SERVICES, INC | $5K | 3.05% |
| LOOP CAPITAL MARKETS LLC | $3K | 1.68% |
| LIQUIDNET, INC. | $2K | 1.01% |
| LEVEL MARKETS, LLC | $1K | 0.71% |
| B. RILEY SECURITIES, INC. | $660 | 0.39% |
| INSTINET, LLC | $648 | 0.38% |
| Raymond James & Associates, Inc. | $500 | 0.30% |
BRSVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BTIG LLC | $7 | 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.