DMVIX Fees and Costs — BNY Mellon Select Managers Small Cap Value Fund, Class I
Data updated: 2024-07-24
The net expense ratio is 1.05%: a 0.90% management fee plus 0.20% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $355K in broker commissions, 0.1336% of average net assets, and portfolio turnover was 75%.
DMVIX Fees and Expenses
Annual operating expenses and sales charges of DMVIX. Prospectus, as of March 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.10% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.05% |
| 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 | Yes |
| Waived fees subject to recoupment | No |
DMVIX Costs Over Time
On $10,000 invested in DMVIX, assuming 5% a year before costs, total costs come to $738 over 5 years, cutting the return by 1.24% 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 1.05%) | $110 | $343 | $594 |
| Trading costs (broker commissions) | $14 | $44 | $76 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $124 | $406 | $738 |
| Value after costs | $10,376 | $11,170 | $12,025 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
DMVIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1336%
- Total broker commissions: $355K
- Bought from dealers (principal trades, not a cost): $524.1M
- Portfolio turnover (prospectus): 75%
- Securities on loan, average value: $12.1M
- Net income from securities lending: $41K (0.016% of average net assets)
DMVIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $52K | 25.79% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $22K | 10.87% |
| LOOP CAPITAL MARKETS LLC | $20K | 9.82% |
| RAYMOND JAMES & ASSOCIATES, INC. | $19K | 9.52% |
| JEFFERIES LLC | $19K | 9.23% |
| GOLDMAN SACHS & CO. LLC | $18K | 9.06% |
| PIPER JAFFRAY & CO. | $15K | 7.56% |
| NATIONAL FINANCIAL SERVICES LLC | $14K | 6.85% |
| KEEFE, BRUYETTE & WOODS, INC. | $11K | 5.65% |
| ROBERT W. BAIRD & CO. INCORPORATED | $11K | 5.65% |
DMVIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $69.5M | 22.97% |
| TD SECURITIES (USA) LLC | $39.0M | 12.88% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $34.8M | 11.50% |
| LOOP CAPITAL MARKETS LLC | $31.9M | 10.53% |
| JEFFERIES LLC | $30.7M | 10.14% |
| RAYMOND JAMES & ASSOCIATES, INC. | $25.7M | 8.50% |
| INSTINET, LLC | $21.3M | 7.02% |
| PIPER JAFFRAY & CO. | $20.2M | 6.68% |
| DEUTSCHE BANK SECURITIES INC. | $15.7M | 5.19% |
| KEEFE, BRUYETTE & WOODS, INC. | $13.9M | 4.60% |
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.