DILYX Fees and Costs — Davis International Fund, Class Y
Data updated: 2026-09-28
The net expense ratio is 0.72%: a 0.55% management fee plus 0.17% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $64K in broker commissions, 0.0365% of average net assets, and portfolio turnover was 21%.
DILYX Fees and Expenses
Annual operating expenses and sales charges of DILYX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.17% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| 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 |
DILYX Costs Over Time
On $10,000 invested in DILYX, assuming 5% a year before costs, total costs come to $476 over 5 years, cutting the return by 0.79% 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 0.72%) | $76 | $236 | $411 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $79 | $261 | $476 |
| Value after costs | $10,421 | $11,316 | $12,287 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
DILYX 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): 0.0365%
- Total broker commissions: $64K
- Bought from dealers (principal trades, not a cost): $399.3M
- Portfolio turnover (prospectus): 21%
- Securities on loan, average value: $198K
- Net income from securities lending: $784 (0.000% of average net assets)
DILYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $16K | 27.09% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $13K | 21.20% |
| J.P. Morgan Securities LLC | $7K | 11.43% |
| UBS Securities LLC | $7K | 11.11% |
| Morgan Stanley & Co. LLC | $5K | 7.72% |
| CLSA Americas, LLC | $4K | 6.57% |
| China Renaissance Securities (US) Inc. | $3K | 5.23% |
| Jefferies LLC | $3K | 4.48% |
| BMO Capital Markets Corp. | $2K | 2.96% |
| JonesTrading Institutional Services LLC | $1K | 2.20% |
DILYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| StoneX Financial Inc. | $266.9M | 66.85% |
| Nomura Securities International, Inc. | $132.4M | 33.15% |
Davis International Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DILYX | Class Y | 0.72% | none |
| DILAX | Class A | 1.05% | 4.75% |
| DILCX | Class C | 1.80% | 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.