GCAVX Fees and Costs — GMO U.S. Small Cap Value Fund, Class VI
Data updated: 2026-09-29
The net expense ratio is 0.50%: a 0.37% management fee plus 0.32% other expenses, less a 0.19% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $12K in broker commissions, 0.0308% of average net assets, and portfolio turnover was 98%.
GCAVX Fees and Expenses
Annual operating expenses and sales charges of GCAVX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | — |
| Other expenses | 0.32% |
| Gross expense ratio | 0.69% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
GCAVX Costs Over Time
On $10,000 invested in GCAVX, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
GCAVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 28, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0308%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $10.4M
- Portfolio turnover (prospectus): 98%
- Securities lending: none during the year
GCAVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $2K | 16.12% |
| Virtu Americas LLC | $1K | 10.92% |
| J.P. Morgan Securities LLC | $1K | 10.66% |
| Goldman Sachs & Co. LLC | $980 | 10.23% |
| Jefferies LLC | $970 | 10.12% |
| Morgan Stanley & Co. LLC | $954 | 9.96% |
| Citigroup Global Markets Inc. | $931 | 9.72% |
| TD Securities (USA) LLC | $800 | 8.35% |
| SG Americas Securities, LLC | $686 | 7.16% |
| State Street Global Markets, LLC | $650 | 6.78% |
GCAVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $10.4M | 100.00% |
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.