BVAAX Fees and Costs — Sterling Capital Virginia Intermediate Tax-Free Fund, Class A
Data updated: 2026-08-31
The net expense ratio is 0.87%: a 0.35% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses. This share class carries a maximum front-end sales load of 2.00%. Portfolio turnover was 17%.
BVAAX Fees and Expenses
Annual operating expenses and sales charges of BVAAX. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 0.87% |
| Fee waiver | — |
| Net expense ratio | 0.87% |
| Sales charges | |
|---|---|
| Max front load | 2.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BVAAX Costs Over Time
On $10,000 invested in BVAAX, assuming 5% a year before costs, total costs come to $790 over 5 years, cutting the return by 1.33% 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 | $200 | $200 | $200 |
| Fund expenses (net expense ratio 0.87%) | $90 | $280 | $486 |
| Lost growth on money paid in costs | $10 | $45 | $104 |
| Total costs | $300 | $525 | $790 |
| Value after costs | $10,200 | $11,051 | $11,973 |
| Impact on return, per year | 3.00% | 1.61% | 1.33% |
BVAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $26.7M
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
BVAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $4.7M | 22.92% |
| WELLS FARGO SECURITIES, LLC | $3.7M | 18.04% |
| MORGAN STANLEY & CO. LLC | $3.2M | 15.39% |
| TRUIST SECURITIES, INC | $2.3M | 11.10% |
| BANK OF AMERICA MERRILL LYNCH | $2.2M | 10.84% |
| STIFEL NICOLAUS & COMPANY | $1.5M | 7.19% |
| USB SECURITIES LLC | $1.4M | 6.75% |
| TD SECURITIES | $807K | 3.91% |
| PNC BANK | $543K | 2.63% |
| J.P. Morgan Securities LLC | $255K | 1.24% |
Sterling Capital Virginia Intermediate Tax-Free Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| BVATX | Institutional Class | 0.62% | none |
| BVAAX | Class A | 0.87% | 2.00% |
| BVACX | Class C | 1.62% | none |
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.