DGFAX Fees and Costs — Davis Global Fund, Class A
Data updated: 2026-09-28
The net expense ratio is 0.95%: a 0.55% management fee, a 0.23% 12b-1 fee plus 0.17% other expenses. This share class carries a maximum front-end sales load of 4.75% and a deferred sales charge of up to 0.50%. In fiscal 2025 the fund paid $342K in broker commissions, 0.0400% of average net assets, and portfolio turnover was 27%.
DGFAX Fees and Expenses
Annual operating expenses and sales charges of DGFAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.23% |
| Other expenses | 0.17% |
| Gross expense ratio | 0.95% |
| Fee waiver | — |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 0.50% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
DGFAX Costs Over Time
On $10,000 invested in DGFAX, assuming 5% a year before costs, total costs come to $1,196 over 5 years, cutting the return by 2.05% 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 | $525 | $475 | $475 |
| Fund expenses (net expense ratio 0.95%) | $95 | $296 | $514 |
| Trading costs (broker commissions) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $24 | $90 | $185 |
| Total costs | $647 | $874 | $1,196 |
| Value after costs | $9,853 | $10,702 | $11,567 |
| Impact on return, per year | 6.47% | 2.71% | 2.05% |
DGFAX 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): 0.0400%
- Total broker commissions: $342K
- Bought from dealers (principal trades, not a cost): $1.8B
- Portfolio turnover (prospectus): 27%
- Securities on loan, average value: $1.3M
- Net income from securities lending: $6K (0.001% of average net assets)
DGFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $47K | 17.23% |
| J.P. Morgan Securities LLC | $45K | 16.52% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $32K | 11.60% |
| BMO Capital Markets Corp. | $31K | 11.37% |
| Jefferies LLC | $29K | 10.49% |
| CLSA Americas, LLC | $24K | 8.69% |
| UBS Securities LLC | $17K | 6.30% |
| Piper Sandler & Co. | $17K | 6.21% |
| Sanford C. Bernstein & Co., LLC | $17K | 6.08% |
| Morgan Stanley & Co. LLC | $15K | 5.53% |
DGFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| StoneX Financial Inc. | $1.2B | 66.53% |
| Nomura Securities International, Inc. | $588.0M | 32.86% |
| Reflow Services, LLC | $11.0M | 0.62% |
Davis Global Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DGFYX | Class Y | 0.70% | none |
| DGFAX | Class A | 0.95% | 4.75% |
| DGFCX | Class C | 1.75% | 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.