DALVX Fees and Costs — Dunham Large Cap Value Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 1.42%: a 0.99% management fee, a 0.25% 12b-1 fee plus 0.18% other expenses. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 0.75%. In fiscal 2025 the fund paid $13K in broker commissions, 0.0072% of average net assets, and portfolio turnover was 33%.
DALVX Fees and Expenses
Annual operating expenses and sales charges of DALVX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.42% |
| Fee waiver | — |
| Net expense ratio | 1.42% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.75% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DALVX Costs Over Time
On $10,000 invested in DALVX, assuming 5% a year before costs, total costs come to $1,568 over 5 years, cutting the return by 2.72% 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 | $648 | $575 | $575 |
| Fund expenses (net expense ratio 1.42%) | $141 | $437 | $754 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $29 | $112 | $236 |
| Total costs | $818 | $1,126 | $1,568 |
| Value after costs | $9,682 | $10,450 | $11,195 |
| Impact on return, per year | 8.18% | 3.52% | 2.72% |
DALVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0072%
- Total broker commissions: $13K
- Bought from dealers (principal trades, not a cost): $218K
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $7.1M
- Net income from securities lending: $9K (0.005% of average net assets)
DALVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ROYAL BANK OF CANADA CAPITAL MARKETS | $3K | 24.56% |
| BANK OF AMERICA MERRILL LYNCH | $1K | 12.56% |
| CASTLE OAK | $1K | 12.15% |
| JPMorgan Chase | $1K | 11.79% |
| STIFEL NICOLAUS | $1K | 11.07% |
| GOLDMAN SACHS | $1K | 9.47% |
| MORGAN STANLEY SMITH BARNEY | $1K | 9.01% |
| RAYMOND JAMES | $440 | 3.74% |
| ISI GROUP | $358 | 3.05% |
| WELLS FARGO BANK | $306 | 2.60% |
DALVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| COWEN GROUP | $218K | 100.00% |
Dunham Large Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DNLVX | Class N | 1.17% | none |
| DALVX | Class A | 1.42% | 5.75% |
| DCLVX | Class C | 2.17% | 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.