FTVAX Fees and Costs — FullerThaler Behavioral Mid-Cap Value Fund, A Shares
Data updated: 2026-08-27
The net expense ratio is 1.21%: a 0.74% management fee, a 0.25% 12b-1 fee plus 0.22% other expenses. This share class carries a maximum front-end sales load of 5.75% and a deferred sales charge of up to 1.00%. In fiscal 2024 the fund paid $90K in broker commissions, 0.0226% of average net assets, and portfolio turnover was 18%.
FTVAX Fees and Expenses
Annual operating expenses and sales charges of FTVAX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.22% |
| Gross expense ratio | 1.21% |
| Fee waiver | — |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
FTVAX Costs Over Time
On $10,000 invested in FTVAX, assuming 5% a year before costs, total costs come to $1,457 over 5 years, cutting the return by 2.52% 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 |
| Sales charges | $673 | $575 | $575 |
| Fund expenses (net expense ratio 1.21%) | $120 | $373 | $645 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $29 | $109 | $225 |
| Total costs | $823 | $1,064 | $1,457 |
| Value after costs | $9,677 | $10,512 | $11,306 |
| Impact on return, per year | 8.23% | 3.32% | 2.52% |
FTVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0226%
- Total broker commissions: $90K
- Bought from dealers (principal trades, not a cost): $200.2M
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $34.6M
- Net income from securities lending: $18K (0.005% of average net assets)
FTVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET LLC | $18K | 23.74% |
| Weeden Prime Services LLC | $16K | 22.14% |
| RBC CAPITAL MARKETS | $9K | 12.61% |
| KEYBANC CAPITAL MARKETS, INC. | $8K | 11.08% |
| GOLDMAN SACHS & CO. | $5K | 7.06% |
| KEEFE, BRUYETTE, & WOODS INC. | $5K | 6.97% |
| STATE STREET GLOBAL MARKETS LLC | $4K | 5.71% |
| B. RILEY SECURITIES INC. | $3K | 4.06% |
| COWEN & COMPANY LLC | $3K | 3.66% |
| BEATING WALL STREET INC | $2K | 2.98% |
FullerThaler Behavioral 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 |
|---|---|---|---|
| FTVZX | R6 Shares | 0.72% | none |
| FTVSX | Institutional Shares | 0.82% | none |
| FTVNX | Investor Shares | 1.18% | none |
| FTVAX | A Shares | 1.21% | 5.75% |
| FTVCX | C Shares | 1.73% | 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.