C000025741 Fees and Costs — Moa Small Cap Value Fund
Data updated: 2026-08-27
The net expense ratio is 0.85%: a 0.75% management fee plus 0.10% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $322K in broker commissions, 0.0856% of average net assets, and portfolio turnover was 38%.
C000025741 Fees and Expenses
Annual operating expenses and sales charges of C000025741. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.10% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
C000025741 Costs Over Time
On $10,000 invested in C000025741, assuming 5% a year before costs, total costs come to $586 over 5 years, cutting the return by 0.98% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $9 | $28 | $49 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $98 | $322 | $586 |
| Value after costs | $10,402 | $11,254 | $12,177 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
C000025741 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): 0.0856%
- Total broker commissions: $322K
- Bought from dealers (principal trades, not a cost): $320.3M
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
C000025741 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNY MELLON CAPITAL MARKETS, LLC | $69K | 23.10% |
| FIDELITY MANAGEMENT & RESEARCH COMPANY LLC | $54K | 18.13% |
| JEFFERIES LLC | $36K | 11.94% |
| Stifel, Nicolaus & Company, Incorporated | $33K | 10.97% |
| INSTINET, LLC | $32K | 10.70% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $24K | 8.15% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $19K | 6.35% |
| RBC CAPITAL MARKETS, LLC | $14K | 4.86% |
| D.A. Davidson & Co. | $10K | 3.48% |
| Robert W. Baird & Co. Incorporated | $7K | 2.31% |
C000025741 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $118.4M | 36.97% |
| BARCLAYS CAPITAL, INC. | $57.0M | 17.79% |
| Wells Fargo Securities LLC | $49.8M | 15.55% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $35.1M | 10.95% |
| GOLDMAN SACHS & CO. LLC | $31.7M | 9.90% |
| CITADEL SECURITIES LLC | $13.7M | 4.28% |
| Mizuho Securities USA LLC | $7.3M | 2.28% |
| Royal Bank of Canada | $6.2M | 1.94% |
| BNY MELLON CAPITAL MARKETS, LLC | $1.1M | 0.34% |
| MORGAN STANLEY & CO. LLC | $46K | 0.01% |
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.