C000018292 Fees and Costs — Penn Series Real Estate Securities Fund, Real Estate Securities Fund
Data updated: 2026-08-24
The net expense ratio is 0.97%: a 0.70% management fee plus 0.27% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $30K in broker commissions, 0.0300% of average net assets, and portfolio turnover was 31%.
C000018292 Fees and Expenses
Annual operating expenses and sales charges of C000018292. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.27% |
| Gross expense ratio | 0.97% |
| Fee waiver | — |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
C000018292 Costs Over Time
On $10,000 invested in C000018292, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
C000018292 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0300%
- Total broker commissions: $30K
- Bought from dealers (principal trades, not a cost): $942K
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
C000018292 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $5K | 19.64% |
| J.P. Morgan Securities LLC | $4K | 16.32% |
| CITIGROUP GLOBAL MARKETS INC. | $3K | 11.82% |
| EVERCORE GROUP L.L.C. | $3K | 10.77% |
| MORGAN STANLEY & CO. LLC | $2K | 9.46% |
| WELLS FARGO SECURITIES, LLC | $2K | 8.22% |
| GOLDMAN SACHS & CO. LLC | $2K | 7.63% |
| LIQUIDNET, INC. | $2K | 6.29% |
| TD SECURITIES (USA) LLC | $2K | 6.22% |
| NATIONAL FINANCIAL SERVICES LLC | $944 | 3.62% |
C000018292 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $377K | 40.03% |
| J.P. Morgan Securities LLC | $349K | 37.09% |
| BOFA SECURITIES, INC. | $215K | 22.88% |
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.