KMVAX Fees and Costs — Kirr, Marbach Partners Value Fund
Data updated: 2026-08-28
The net expense ratio is 1.35%. This share class carries a redemption fee of 1.00%. In fiscal 2025 the fund paid $15K in broker commissions, 0.0160% of average net assets, and portfolio turnover was 10%.
KMVAX Fees and Expenses
Annual operating expenses and sales charges of KMVAX. Prospectus, as of January 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.07% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
KMVAX Costs Over Time
On $10,000 invested in KMVAX, assuming 5% a year before costs, total costs come to $848 over 5 years, cutting the return by 1.43% 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 1.35%) | $142 | $441 | $761 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $143 | $468 | $848 |
| Value after costs | $10,357 | $11,108 | $11,915 |
| Impact on return, per year | 1.43% | 1.43% | 1.43% |
KMVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0160%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
KMVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STONEX FINANCIAL INC. | $10K | 64.38% |
| BNY MELLON CAPITAL MARKETS LLC | $5K | 35.20% |
| COWEN AND COMPANY LLC | $65 | 0.43% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.