C000207663 Fees and Costs — Walthausen Small Cap Value Fund, Institutional Class
Data updated: 2023-05-19
The net expense ratio is 0.98%: a 1.00% management fee plus 0.45% other expenses, less a 0.47% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $98K in broker commissions, 0.1329% of average net assets, and portfolio turnover was 45%.
C000207663 Fees and Expenses
Annual operating expenses and sales charges of C000207663. Prospectus, as of November 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.45% |
| Gross expense ratio | 1.45% |
| Fee waiver | −0.47% |
| Net expense ratio | 0.98% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
C000207663 Costs Over Time
On $10,000 invested in C000207663, assuming 5% a year before costs, total costs come to $695 over 5 years, cutting the return by 1.17% 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 0.98%) | $103 | $321 | $555 |
| Trading costs (broker commissions) | $14 | $43 | $75 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $382 | $695 |
| Value after costs | $10,383 | $11,194 | $12,068 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
C000207663 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending January 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1329%
- Total broker commissions: $98K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
C000207663 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $28K | 30.88% |
| COWEN AND COMPANY LLC | $17K | 18.94% |
| INSTINET LLC | $17K | 18.77% |
| JONES TRADING INSTITUTIONAL SERVICES LLC | $11K | 11.66% |
| D.A. DAVIDSON & CO. | $6K | 6.52% |
| OPPENHEIMER & CO INC | $4K | 3.90% |
| INTERNATIONAL FCSTONE FINANCIAL INC | $3K | 3.21% |
| CJS SECURITIES, INC. | $2K | 2.15% |
| O'NEIL SECURITIES INCORPORATED | $2K | 2.12% |
| KEEFE BRUYETTE & WOODS INC | $2K | 1.85% |
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.