CBVBX Fees and Costs — ClearBridge Value Fund, Class IS
Data updated: 2026-09-23
The net expense ratio is 0.68%: a 0.64% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.2M in broker commissions, 0.0566% of average net assets, and portfolio turnover was 53%.
CBVBX Fees and Expenses
Annual operating expenses and sales charges of CBVBX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CBVBX Costs Over Time
On $10,000 invested in CBVBX, assuming 5% a year before costs, total costs come to $463 over 5 years, cutting the return by 0.77% 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 0.68%) | $71 | $223 | $388 |
| Trading costs (broker commissions) | $6 | $19 | $32 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $254 | $463 |
| Value after costs | $10,423 | $11,322 | $12,300 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
CBVBX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0566%
- Total broker commissions: $2.2M
- Bought from dealers (principal trades, not a cost): $59.4M
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
CBVBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NATIONAL FINANCIAL SERVICES LLC | $369K | 21.91% |
| Stifel, Nicolaus & Co., Inc. | $192K | 11.40% |
| J.P. MORGAN SECURITIES LLC | $190K | 11.29% |
| MORGAN STANLEY & CO. LLC | $179K | 10.61% |
| JEFFERIES LLC | $157K | 9.34% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $138K | 8.21% |
| UBS Securities LLC | $134K | 7.95% |
| BARCLAYS CAPITAL, INC. | $122K | 7.26% |
| INSTINET, LLC | $106K | 6.31% |
| GOLDMAN SACHS & CO. LLC | $96K | 5.72% |
CBVBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $39.4M | 66.31% |
| BARCLAYS CAPITAL, INC. | $20.0M | 33.69% |
ClearBridge Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CBVBX | Class IS | 0.68% | none |
| LMNVX | Class I | 0.76% | none |
| LGVAX | Class A | 1.01% | 5.50% |
| LMVFX | Class FI | 1.11% | none |
| LMVRX | Class R | 1.34% | none |
| LMVTX | Class C | 1.71% | 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.