FVD Fees and Costs — First Trust Value Line Dividend Index Fund
Data updated: 2026-08-21
The net expense ratio is 0.62%: a 0.48% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.9M in broker commissions, 0.0209% of average net assets, and portfolio turnover was 65%.
FVD Fees and Expenses
Annual operating expenses and sales charges of FVD. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.62% |
| Fee waiver | — |
| Net expense ratio | 0.62% |
| 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 | No |
| Waived fees subject to recoupment | No |
FVD Costs Over Time
On $10,000 invested in FVD, assuming 5% a year before costs, total costs come to $404 over 5 years, cutting the return by 0.67% 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 0.62%) | $65 | $204 | $355 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $221 | $404 |
| Value after costs | $10,433 | $11,355 | $12,359 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
FVD Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0209%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): $3.6B
- Portfolio turnover (prospectus): 65%
- Securities lending: none during the year
FVD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OLD MISSION MARKETS LLC | $615K | 32.63% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $482K | 25.58% |
| BOFA SECURITIES, INC. | $301K | 15.95% |
| CITADEL SECURITIES LLC | $257K | 13.62% |
| BTIG, LLC | $118K | 6.27% |
| RBC CAPITAL MARKETS, LLC | $97K | 5.14% |
| CANTOR FITZGERALD & CO. | $11K | 0.56% |
| J.P. MORGAN SECURITIES LLC | $3K | 0.14% |
| MIZUHO SECURITIES USA LLC | $2K | 0.11% |
FVD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $1.3B | 37.36% |
| RBC CAPITAL MARKETS, LLC | $1.2B | 33.13% |
| CITADEL SECURITIES LLC | $318.0M | 8.86% |
| BNP PARIBAS SECURITIES CORP. | $234.9M | 6.54% |
| VIRTU AMERICAS LLC | $161.3M | 4.49% |
| J.P. Morgan Securities LLC | $154.0M | 4.29% |
| GOLDMAN SACHS & CO. LLC | $59.4M | 1.66% |
| JANE STREET CAPITAL, LLC | $55.8M | 1.55% |
| JUNIPER NETWORKS, INC. | $41.5M | 1.15% |
| ALLETE INC | $34.8M | 0.97% |
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.