BVOIX Fees and Costs — Barrow Hanley US Value Opportunities Fund, Institutional Shares
Data updated: 2026-08-27
The net expense ratio is 0.70%: a 0.55% management fee plus 0.22% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $43K in broker commissions, 0.0416% of average net assets, and portfolio turnover was 51%.
BVOIX Fees and Expenses
Annual operating expenses and sales charges of BVOIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.22% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
BVOIX Costs Over Time
On $10,000 invested in BVOIX, assuming 5% a year before costs, total costs come to $466 over 5 years, cutting the return by 0.78% 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 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $256 | $466 |
| Value after costs | $10,422 | $11,321 | $12,297 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
BVOIX 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): 0.0416%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $63.4M
- Portfolio turnover (prospectus): 51%
- Securities lending: none during the year
BVOIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER SANDLER & CO. | $19K | 50.27% |
| LIQUIDNET, INC. | $5K | 13.24% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $4K | 10.78% |
| INSTINET, LLC | $4K | 10.28% |
| VIRTU FINANCIAL, INC. | $3K | 9.02% |
| MORGAN STANLEY | $2K | 4.15% |
| EVERCORE GROUP LLC | $844 | 2.25% |
BVOIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $63.4M | 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.