CCMSX Fees and Costs — Cardinal Small Cap Value Fund, Institutional Class
Data updated: 2024-09-27
The net expense ratio is 0.99%: a 0.70% management fee plus a 0.54% 12b-1 fee, less a 0.25% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $108K in broker commissions, 0.1971% of average net assets, and portfolio turnover was 29%.
CCMSX Fees and Expenses
Annual operating expenses and sales charges of CCMSX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.54% |
| Other expenses | — |
| Gross expense ratio | 1.24% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CCMSX Costs Over Time
On $10,000 invested in CCMSX, assuming 5% a year before costs, total costs come to $740 over 5 years, cutting the return by 1.25% 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 0.99%) | $104 | $324 | $560 |
| Trading costs (broker commissions) | $21 | $64 | $112 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $125 | $407 | $740 |
| Value after costs | $10,375 | $11,169 | $12,023 |
| Impact on return, per year | 1.25% | 1.25% | 1.25% |
CCMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1971%
- Total broker commissions: $108K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
CCMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET | $48K | 47.10% |
| PIPER JAFFRAY | $27K | 26.84% |
| INSTINET | $17K | 16.41% |
| STEPHENS INC. | $2K | 2.19% |
| B RILEY INC. | $2K | 1.66% |
| JEFFERIES INC | $2K | 1.48% |
| GOLDMAN SACHS & CO | $1K | 1.18% |
| RBC CAPITAL | $1K | 1.07% |
| RAYMOND JAMES | $1K | 1.07% |
| CITIGROUP GLOBAL MARKETS | $1K | 1.01% |
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.