LVAEX Fees and Costs — LSV Value Equity Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 0.92%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $69K in broker commissions, 0.0055% of average net assets, and portfolio turnover was 12%.
LVAEX Fees and Expenses
Annual operating expenses and sales charges of LVAEX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.92% |
| Fee waiver | — |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | Yes |
LVAEX Costs Over Time
On $10,000 invested in LVAEX, assuming 5% a year before costs, total costs come to $580 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 0.92%) | $97 | $302 | $524 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $318 | $580 |
| Value after costs | $10,403 | $11,258 | $12,183 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
LVAEX 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): 0.0055%
- Total broker commissions: $69K
- Bought from dealers (principal trades, not a cost): $279.6M
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
LVAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO, INC | $23K | 35.71% |
| CITADEL SECURITIES | $12K | 17.85% |
| BAML | $10K | 15.78% |
| UBS SECURITIES | $6K | 10.03% |
| WACHOVIA CAPITAL MARKETS | $6K | 8.87% |
| SANFORD C. BERNSTEIN & CO., LLC | $3K | 4.27% |
| J P MORGAN CHASE BANK | $2K | 3.85% |
| PIPER JAFFRAY | $1K | 2.01% |
| CITIGROUP | $902 | 1.40% |
| SG COWEN | $152 | 0.24% |
LVAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SOUTH STREET SECURITIES | $279.6M | 100.00% |
LSV Value Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LSVEX | Institutional Class | 0.67% | — |
| LVAEX | Investor Class | 0.92% | — |
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.