BSCMX Fees and Costs — Brandes Small Cap Value Fund, Class I
Data updated: 2026-08-26
The net expense ratio is 0.91%: a 0.70% management fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $296K in broker commissions, 0.1233% of average net assets, and portfolio turnover was 30%.
BSCMX Fees and Expenses
Annual operating expenses and sales charges of BSCMX. Prospectus, as of July 29, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 0.91% |
| Fee waiver | — |
| Net expense ratio | 0.91% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
BSCMX Costs Over Time
On $10,000 invested in BSCMX, assuming 5% a year before costs, total costs come to $646 over 5 years, cutting the return by 1.08% 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 0.91%) | $96 | $298 | $517 |
| Trading costs (broker commissions) | $13 | $40 | $70 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $355 | $646 |
| Value after costs | $10,392 | $11,221 | $12,117 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
BSCMX 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
BSCMX 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% |
BSCMX 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.