GQLVX Fees and Costs — Disciplined U.S. Value Equity Portfolio
Data updated: 2026-09-14
The net expense ratio is 0.85%: a 0.55% management fee plus 2.93% other expenses, less a 2.63% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0730% of average net assets, and portfolio turnover was 86%.
GQLVX Fees and Expenses
Annual operating expenses and sales charges of GQLVX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | — |
| Other expenses | 2.93% |
| Gross expense ratio | 3.48% |
| Fee waiver | −2.63% |
| Net expense ratio | 0.85% |
| 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 | No |
GQLVX Costs Over Time
On $10,000 invested in GQLVX, assuming 5% a year before costs, total costs come to $578 over 5 years, cutting the return by 0.97% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $318 | $578 |
| Value after costs | $10,403 | $11,259 | $12,185 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
GQLVX 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): 0.0730%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $4.5M
- Portfolio turnover (prospectus): 86%
- Securities on loan, average value: $9K
- Net income from securities lending: $8 (0.000% of average net assets)
GQLVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wells Fargo Securities, LLC | $414 | 26.62% |
| Nomura Securities International, Inc. | $334 | 21.48% |
| RBC Capital Markets, LLC | $176 | 11.31% |
| Robert W. Baird & Co. Incorporated | $162 | 10.44% |
| Truist Securities, Inc. | $132 | 8.48% |
| Barclays Capital Inc. | $126 | 8.07% |
| BofA Securities, Inc. | $114 | 7.31% |
| Piper Sandler & Co. | $79 | 5.07% |
| Strategas Securities, LLC | $16 | 1.04% |
| National Financial Services LLC | $3 | 0.19% |
GQLVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $4.5M | 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.