CMCMX Fees and Costs — Conestoga Discovery Fund, Investor Class
Data updated: 2026-08-28
The net expense ratio is 1.50% (7.92% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.2003% of average net assets, and portfolio turnover was 31%.
CMCMX Fees and Expenses
Annual operating expenses and sales charges of CMCMX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 6.42% |
| Gross expense ratio | 7.92% |
| Fee waiver | −6.42% |
| Net expense ratio | 1.50% |
| 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 |
CMCMX Costs Over Time
On $10,000 invested in CMCMX, assuming 5% a year before costs, total costs come to $1,049 over 5 years, cutting the return by 1.79% 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 1.50%) | $158 | $488 | $840 |
| Trading costs (broker commissions) | $21 | $65 | $112 |
| Lost growth on money paid in costs | $0 | $28 | $97 |
| Total costs | $179 | $581 | $1,049 |
| Value after costs | $10,321 | $10,996 | $11,714 |
| Impact on return, per year | 1.79% | 1.79% | 1.79% |
CMCMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2003%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
CMCMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING INSTITUTIONAL SERVICES LLC | $2K | 30.21% |
| VIRTU AMERICAS LLC | $2K | 24.38% |
| BLOOMBERG TRADEBOOK LLC | $1K | 13.74% |
| BOFA SECURITIES, INC. | $714 | 8.72% |
| COWEN AND COMPANY LLC | $383 | 4.68% |
| CANACCORD GENUITY, INC. | $370 | 4.52% |
| JEFFERIES LLC | $362 | 4.42% |
| STIFEL, NICOLAUS & CO., INC. | $326 | 3.98% |
| BTIG LLC | $222 | 2.71% |
| Liquidnet, Inc. | $216 | 2.64% |
Conestoga Discovery Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CMIRX | Institutional Class | 1.25% | — |
| CMCMX | Investor Class | 1.50% | — |
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.