COVAX Fees and Costs — Columbia Small Cap Value and Inflection Fund, Class A
Data updated: 2026-07-29
The net expense ratio is 1.20%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.17% fee waiver. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2026 the fund paid $1.3M in broker commissions, 0.1606% of average net assets, and portfolio turnover was 88%.
COVAX Fees and Expenses
Annual operating expenses and sales charges of COVAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.37% |
| Fee waiver | −0.17% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
COVAX Costs Over Time
On $10,000 invested in COVAX, assuming 5% a year before costs, total costs come to $1,530 over 5 years, cutting the return by 2.65% 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 |
| Sales charges | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.20%) | $119 | $369 | $638 |
| Trading costs (broker commissions) | $16 | $49 | $85 |
| Lost growth on money paid in costs | $29 | $111 | $232 |
| Total costs | $836 | $1,105 | $1,530 |
| Value after costs | $9,664 | $10,471 | $11,233 |
| Impact on return, per year | 8.36% | 3.45% | 2.65% |
COVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1606%
- Total broker commissions: $1.3M
- Bought from dealers (principal trades, not a cost): $17.2M
- Portfolio turnover (prospectus): 88%
- Securities lending: none during the year
COVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $370K | 36.03% |
| Jefferies LLC | $139K | 13.54% |
| J.P. Morgan Securities LLC | $105K | 10.23% |
| Virtu Americas LLC | $86K | 8.36% |
| Wells Fargo Securities, LLC | $84K | 8.17% |
| RBC Capital Markets, LLC | $55K | 5.40% |
| Morgan Stanley & Co. LLC | $53K | 5.17% |
| Barclays Capital Inc. | $53K | 5.13% |
| UBS Securities LLC | $42K | 4.05% |
| BMO Capital Markets Corp. | $40K | 3.91% |
COVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $14.5M | 83.94% |
| Morgan Stanley & Co. LLC | $2.8M | 16.06% |
Columbia Small Cap Value and Inflection Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CRRYX | Institutional 3 Class | 0.75% | none |
| CRRRX | Institutional 2 Class | 0.80% | none |
| NSVAX | Institutional Class | 0.95% | none |
| NSVBX | Class S | 0.95% | none |
| COVAX | Class A | 1.20% | 5.75% |
| CCTRX | Class R | 1.45% | 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.