CZMVX Fees and Costs — Multi-Manager Value Strategies Fund, Institutional Class
Data updated: 2026-09-24
The net expense ratio is 0.68%: a 0.59% management fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $606K in broker commissions, 0.0111% of average net assets, and portfolio turnover was 37%.
CZMVX Fees and Expenses
Annual operating expenses and sales charges of CZMVX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| 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 | No |
| Waived fees subject to recoupment | No |
CZMVX Costs Over Time
On $10,000 invested in CZMVX, assuming 5% a year before costs, total costs come to $435 over 5 years, cutting the return by 0.73% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $238 | $435 |
| Value after costs | $10,427 | $11,338 | $12,328 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
CZMVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0111%
- Total broker commissions: $606K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
CZMVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $80K | 17.09% |
| J.P. Morgan Securities LLC | $79K | 16.72% |
| Piper Sandler & Co. | $78K | 16.58% |
| UBS Securities LLC | $51K | 10.79% |
| Evercore Group L.L.C. | $44K | 9.37% |
| Sanford C. Bernstein & Co., LLC | $34K | 7.20% |
| Wells Fargo Securities, LLC | $31K | 6.56% |
| Morgan Stanley & Co. LLC | $26K | 5.59% |
| Virtu Americas LLC | $24K | 5.20% |
| Robert W. Baird & Co. Incorporated | $23K | 4.90% |
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.