BSCAX Fees and Costs — Brandes Small Cap Value Fund, Class A
Data updated: 2026-08-26
The net expense ratio is 1.16%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.21% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $296K in broker commissions, 0.1233% of average net assets, and portfolio turnover was 30%.
BSCAX Fees and Expenses
Annual operating expenses and sales charges of BSCAX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BSCAX Costs Over Time
On $10,000 invested in BSCAX, assuming 5% a year before costs, total costs come to $1,486 over 5 years, cutting the return by 2.57% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.16%) | $115 | $357 | $617 |
| Trading costs (broker commissions) | $12 | $38 | $66 |
| Lost growth on money paid in costs | $29 | $110 | $228 |
| Total costs | $731 | $1,080 | $1,486 |
| Value after costs | $9,769 | $10,496 | $11,277 |
| Impact on return, per year | 7.31% | 3.37% | 2.57% |
BSCAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1233%
- Total broker commissions: $296K
- Bought from dealers (principal trades, not a cost): $397.8M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
BSCAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ISI Security Group, Inc. | $69K | 27.35% |
| JEFFERIES LLC. | $42K | 16.81% |
| SANFORD C. BERNSTEIN & CO., LLC | $40K | 15.70% |
| BOFA SECURITIES, INC. | $31K | 12.30% |
| TD SECURITIES (USA) LLC | $21K | 8.41% |
| CITIGROUP GLOBAL MARKETS INC. | $16K | 6.50% |
| PIPER SANDLER & CO. | $9K | 3.39% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $9K | 3.37% |
| ROSENBLATT SECURITIES INC. | $8K | 3.21% |
| UBS SECURITIES LLC | $7K | 2.96% |
BSCAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $385.3M | 96.87% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $8.5M | 2.13% |
| BMO CAPITAL MARKETS CORP. | $2.8M | 0.70% |
| CANTOR FITZGERALD AND CO. | $1.2M | 0.30% |
Brandes Small Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BSCRX | Class R6 | 0.73% | none |
| BSCMX | Class I | 0.91% | none |
| BSCAX | Class A | 1.16% | 5.75% |
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.