FDVLX Fees and Costs — Fidelity Value Fund
Data updated: 2026-09-23
The net expense ratio is 0.68%: a 0.67% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4.0M in broker commissions, 0.0473% of average net assets, and portfolio turnover was 67%.
FDVLX Fees and Expenses
Annual operating expenses and sales charges of FDVLX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.68% |
| Fee waiver | — |
| Net expense ratio | 0.68% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FDVLX Costs Over Time
On $10,000 invested in FDVLX, assuming 5% a year before costs, total costs come to $457 over 5 years, cutting the return by 0.76% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $251 | $457 |
| Value after costs | $10,424 | $11,326 | $12,305 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
FDVLX 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): 0.0473%
- Total broker commissions: $4.0M
- Bought from dealers (principal trades, not a cost): $41.4M
- Portfolio turnover (prospectus): 67%
- Securities on loan, average value: $185.1M
- Net income from securities lending: $659K (0.008% of average net assets)
FDVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS GROUP INC (THE) | $512K | 17.50% |
| BANK OF AMERICA CORPORATION | $497K | 17.00% |
| JPMORGAN CHASE and CO | $451K | 15.42% |
| MORGAN STANLEY | $410K | 14.00% |
| CITIGROUP INC | $252K | 8.62% |
| UBS GROUP AG | $201K | 6.87% |
| ROYAL BANK OF CANADA | $159K | 5.44% |
| JEFFERIES FINANCIAL GROUP INC | $156K | 5.32% |
| VIRTU FINANCIAL INC | $145K | 4.95% |
| BARCLAYS PLC | $143K | 4.87% |
FDVLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| DEUTSCHE BANK AG | $7.9M | 19.23% |
| GOLDMAN SACHS GROUP INC (THE) | $7.2M | 17.46% |
| BANK OF AMERICA CORPORATION | $5.3M | 12.89% |
| MORGAN STANLEY | $5.2M | 12.64% |
| JEFFERIES FINANCIAL GROUP INC | $4.8M | 11.59% |
| NOMURA HOLDINGS INC | $4.5M | 10.92% |
| CITIGROUP INC | $3.4M | 8.28% |
| ROYAL BANK OF CANADA | $1.5M | 3.53% |
| JPMORGAN CHASE and CO | $1.0M | 2.44% |
| BANK OF MONTREAL QUE | $416K | 1.01% |
Fidelity 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 |
|---|---|---|---|
| FVLKX | Class K | 0.60% | — |
| FDVLX | Fidelity Value Fund | 0.68% | — |
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.