IVWCX Fees and Costs — IVA Worldwide Fund, Class C
Data updated: 2021-05-24
The net expense ratio is 1.94%: a 0.80% management fee, a 1.00% 12b-1 fee plus 0.13% other expenses. This share class carries a deferred sales charge of up to 1.00% and a redemption fee of 2.00%. In fiscal 2020 the fund paid $1.9M in broker commissions, 0.0443% of average net assets, and portfolio turnover was 49%.
IVWCX Fees and Expenses
Annual operating expenses and sales charges of IVWCX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 1.94% |
| Fee waiver | — |
| Net expense ratio | 1.94% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
IVWCX Costs Over Time
On $10,000 invested in IVWCX, assuming 5% a year before costs, total costs come to $1,217 over 5 years, cutting the return by 2.08% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.94%) | $204 | $629 | $1,080 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $32 | $113 |
| Total costs | $311 | $676 | $1,217 |
| Value after costs | $10,189 | $10,901 | $11,546 |
| Impact on return, per year | 3.11% | 2.08% | 2.08% |
IVWCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0443%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): $41.8B
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
IVWCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein & Co., LLC | $359K | 23.62% |
| UBS Securities LLC | $201K | 13.20% |
| Redburn (USA) LLC | $183K | 12.06% |
| Societe Generale | $146K | 9.59% |
| Bofa Securities, Inc. | $131K | 8.62% |
| J.P. Morgan Securities LLC | $122K | 8.06% |
| CITIC Securities International USA, LLC | $122K | 8.03% |
| Barclays Capital Inc. | $112K | 7.35% |
| HSBC Securities (USA) Inc. | $78K | 5.14% |
| Exane, Inc. | $66K | 4.33% |
IVWCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Bofa Securities, Inc. | $13.4B | 32.13% |
| Goldman Sachs & Co. LLC | $9.3B | 22.25% |
| Citigroup Global Markets Inc. | $7.8B | 18.59% |
| State Street Bank and Trust Company | $7.7B | 18.51% |
| J.P. Morgan Securities LLC | $3.1B | 7.50% |
| HSBC Securities (USA) Inc. | $222.1M | 0.53% |
| RBC Capital Markets, LLC | $99.9M | 0.24% |
| Credit Suisse Securities (USA) LLC | $96.6M | 0.23% |
| Morgan Stanley & Co. LLC | $5.7M | 0.01% |
| R.W.Pressprich & Co. | $2.1M | 0.01% |
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.