DISVX Fees and Costs — Dfa International Small Cap Value Portfolio, Institutional Class Shares
Data updated: 2026-09-24
The net expense ratio is 0.43%: a 0.39% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.0099% of average net assets, and portfolio turnover was 14%.
DISVX Fees and Expenses
Annual operating expenses and sales charges of DISVX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.39% |
| 12b-1 fee | — |
| Other expenses | 0.04% |
| Gross expense ratio | 0.43% |
| Fee waiver | — |
| Net expense ratio | 0.43% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
DISVX Costs Over Time
On $10,000 invested in DISVX, assuming 5% a year before costs, total costs come to $278 over 5 years, cutting the return by 0.46% 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 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $0 | $7 | $25 |
| Total costs | $46 | $152 | $278 |
| Value after costs | $10,454 | $11,424 | $12,485 |
| Impact on return, per year | 0.46% | 0.46% | 0.46% |
DISVX 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): 0.0099%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $273.3M
- Portfolio turnover (prospectus): 14%
- Securities on loan, average value: $644.5M
- Net income from securities lending: $8.9M (0.073% of average net assets)
DISVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $378K | 31.21% |
| Nomura Securities International, Inc. | $336K | 27.76% |
| Jefferies LLC | $332K | 27.41% |
| UBS Securities LLC | $104K | 8.59% |
| Citigroup Global Markets Inc. | $33K | 2.77% |
| Goldman Sachs & Co. LLC | $16K | 1.35% |
| Loop Capital Markets LLC | $11K | 0.89% |
| BofA Securities, Inc. | $174 | 0.01% |
| J.P. Morgan Securities LLC | $82 | 0.01% |
DISVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $3.9M | 49.34% |
| J.P. Morgan Securities LLC | $1.8M | 22.27% |
| Macquarie Capital (USA) Inc. | $1.1M | 14.39% |
| Euroz Hartleys Securities Pty Ltd | $708K | 8.88% |
| Deutsche Bank Securities Inc. | $189K | 2.37% |
| State Street Bank and Trust Company | $117K | 1.46% |
| Berenberg Capital Markets LLC | $75K | 0.94% |
| ABN AMRO Securities (USA) LLC | $15K | 0.19% |
| Goldman Sachs & Co. LLC | $7K | 0.09% |
| Penson Worldwide, Inc. | $5K | 0.07% |
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.