BRUSX Fees and Costs — Ultra-Small Company Fund, Class N
Data updated: 2026-09-02
The net expense ratio is 1.21%: a 0.90% management fee plus 0.31% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $234K in broker commissions, 0.2557% of average net assets, and portfolio turnover was 65%.
BRUSX Fees and Expenses
Annual operating expenses and sales charges of BRUSX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.21% |
| Fee waiver | — |
| Net expense ratio | 1.21% |
| 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 |
BRUSX Costs Over Time
On $10,000 invested in BRUSX, assuming 5% a year before costs, total costs come to $908 over 5 years, cutting the return by 1.54% 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 1.21%) | $127 | $394 | $681 |
| Trading costs (broker commissions) | $27 | $83 | $144 |
| Lost growth on money paid in costs | $0 | $24 | $84 |
| Total costs | $154 | $502 | $908 |
| Value after costs | $10,346 | $11,075 | $11,855 |
| Impact on return, per year | 1.54% | 1.54% | 1.54% |
BRUSX 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): 0.2557%
- Total broker commissions: $234K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 65%
- Securities on loan, average value: $12.6M
- Net income from securities lending: $242K (0.264% of average net assets)
BRUSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $120K | 51.53% |
| VIRTU AMERICAS LLC | $88K | 37.75% |
| JONESTRADING | $16K | 6.90% |
| CAPITAL INSTITUTIONAL SERVICES, INC | $5K | 2.20% |
| LIQUIDNET, INC. | $1K | 0.47% |
| CANTOR FITZGERALD & CO. | $700 | 0.30% |
| MISCHLER FINANCIAL GROUP, INC. | $672 | 0.29% |
| B. RILEY SECURITIES, INC. | $500 | 0.21% |
| Canaccord Genuity LLC | $500 | 0.21% |
| LOOP CAPITAL MARKETS LLC | $318 | 0.14% |
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.