FBSAX Fees and Costs — Franklin Mutual U.S. Mid Cap Value Fund, Advisor Class
Data updated: 2026-09-25
The net expense ratio is 0.66% (0.68% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $256K in broker commissions, 0.0333% of average net assets, and portfolio turnover was 49%.
FBSAX Fees and Expenses
Annual operating expenses and sales charges of FBSAX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.66% |
| 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 |
FBSAX Costs Over Time
On $10,000 invested in FBSAX, assuming 5% a year before costs, total costs come to $436 over 5 years, cutting the return by 0.73% 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 0.66%) | $69 | $217 | $377 |
| Trading costs (broker commissions) | $3 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $11 | $40 |
| Total costs | $73 | $239 | $436 |
| Value after costs | $10,427 | $11,337 | $12,326 |
| Impact on return, per year | 0.73% | 0.73% | 0.73% |
FBSAX 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): 0.0333%
- Total broker commissions: $256K
- Bought from dealers (principal trades, not a cost): $377.0M
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $12K
- Net income from securities lending: $44 (0.000% of average net assets)
FBSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $29K | 15.81% |
| Barclays Capital, Inc. | $26K | 14.55% |
| UBS Securities LLC | $24K | 12.94% |
| Evercore Group L.L.C. | $19K | 10.62% |
| BNP Paribas Securities Corp. | $18K | 9.66% |
| Jefferies LLC | $16K | 9.04% |
| JonesTrading Institutional Services LLC | $14K | 7.64% |
| Virtu Americas LLC | $13K | 6.88% |
| J.P. Morgan Securities LLC | $12K | 6.56% |
| Bay Crest Partners, LLC | $11K | 6.31% |
FBSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $373.6M | 99.09% |
| Goldman Sachs & Co. LLC | $1.9M | 0.49% |
| Fiduciary Trust Company International | $1.6M | 0.41% |
Franklin Mutual U.S. Mid Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FBSIX | Class R6 | 0.57% | none |
| FBSAX | Advisor Class | 0.66% | none |
| FRBSX | Class A | 0.91% | 5.50% |
| FBSRX | Class R | 1.16% | none |
| FCBSX | Class C | 1.66% | 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.