CVRFX Fees and Costs — Pioneer Disciplined Value Fund, : Class R
Data updated: 2025-07-29
The net expense ratio is 1.24%: a 0.40% management fee, a 0.50% 12b-1 fee plus 0.34% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $305K in broker commissions, 0.0756% of average net assets, and portfolio turnover was 111%.
CVRFX Fees and Expenses
Annual operating expenses and sales charges of CVRFX. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.24% |
| Fee waiver | — |
| Net expense ratio | 1.24% |
| 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 | No |
CVRFX Costs Over Time
On $10,000 invested in CVRFX, assuming 5% a year before costs, total costs come to $818 over 5 years, cutting the return by 1.38% 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 1.24%) | $130 | $405 | $700 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $451 | $818 |
| Value after costs | $10,362 | $11,125 | $11,945 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
CVRFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0756%
- Total broker commissions: $305K
- Bought from dealers (principal trades, not a cost): $139.2M
- Portfolio turnover (prospectus): 111%
- Securities lending: none during the year
CVRFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $58K | 23.34% |
| PIPER SANDLER & CO. | $34K | 13.87% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $30K | 12.00% |
| GOLDMAN SACHS & CO. LLC | $25K | 9.99% |
| EVERCORE GROUP L.L.C. | $23K | 9.47% |
| J.P. Morgan Securities LLC | $18K | 7.42% |
| UBS Securities LLC | $16K | 6.43% |
| TD SECURITIES (USA) LLC | $16K | 6.35% |
| WELLS FARGO SECURITIES, LLC | $14K | 5.69% |
| JEFFERIES LLC | $13K | 5.44% |
CVRFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $114.8M | 82.44% |
| CitiGroup Global Markets Inc. | $12.8M | 9.16% |
| BMO CAPITAL MARKETS CORP. | $6.0M | 4.30% |
| GOLDMAN SACHS & CO. LLC | $5.6M | 4.01% |
| MORGAN STANLEY & CO. LLC | $120K | 0.09% |
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.