CSCAX Fees and Costs — Cove Street Capital Small Cap Value Fund, Insitituational Class
Data updated: 2025-06-16
The net expense ratio is 1.27%: a 0.85% management fee plus 0.75% other expenses, less a 0.34% fee waiver. This share class carries a redemption fee of 2.00%. Portfolio turnover was 45%.
CSCAX Fees and Expenses
Annual operating expenses and sales charges of CSCAX. Prospectus, as of January 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.75% |
| Gross expense ratio | 1.61% |
| Fee waiver | −0.34% |
| Net expense ratio | 1.27% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
CSCAX Costs Over Time
On $10,000 invested in CSCAX, assuming 5% a year before costs, total costs come to $790 over 5 years, cutting the return by 1.33% 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 1.27%) | $133 | $415 | $717 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $133 | $435 | $790 |
| Value after costs | $10,367 | $11,141 | $11,973 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
CSCAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 45%
- Securities lending: none during the year
CSCAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet Clearing Service Inc. | $51K | 71.38% |
| Tourmaline Partners LLC | $18K | 24.96% |
| Jones & Associates Inc. | $2K | 3.30% |
| ACADEMY SECURITIES, INC. | $256 | 0.36% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.