DSCEX Fees and Costs — Dana Epiphany Small Cap Equity Fund, Investor Class Shares
Data updated: 2026-09-24
The net expense ratio is 1.20%: a 0.75% management fee, a 0.25% 12b-1 fee plus 1.13% other expenses, less a 0.93% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $16K in broker commissions, 0.0536% of average net assets, and portfolio turnover was 55%.
DSCEX Fees and Expenses
Annual operating expenses and sales charges of DSCEX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.13% |
| Gross expense ratio | 2.13% |
| Fee waiver | −0.93% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
DSCEX Costs Over Time
On $10,000 invested in DSCEX, assuming 5% a year before costs, total costs come to $780 over 5 years, cutting the return by 1.32% 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 1.20%) | $126 | $392 | $678 |
| Trading costs (broker commissions) | $6 | $18 | $30 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $430 | $780 |
| Value after costs | $10,368 | $11,146 | $11,983 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
DSCEX 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): 0.0536%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 55%
- Securities lending: none during the year
DSCEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $8K | 47.44% |
| COWEN & COMPANY LLC | $4K | 25.19% |
| RAYMOND JAMES & ASSOCIATES INC | $3K | 18.35% |
| J.P. MORGAN SECURITIES INC. | $1K | 7.91% |
| CAPITAL INSTITUTIONAL SERVICES, INC | $177 | 1.10% |
Dana Epiphany Small Cap Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DSCIX | Institutional Class Shares | 0.95% | none |
| DSCEX | Investor Class Shares | 1.20% | 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.