LVAFX Fees and Costs — LSV Global Managed Volatility Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 1.00%: a 0.60% management fee, a 0.25% 12b-1 fee plus 1.15% other expenses, less a 1.00% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $935 in broker commissions, 0.0096% of average net assets, and portfolio turnover was 22%.
LVAFX Fees and Expenses
Annual operating expenses and sales charges of LVAFX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.15% |
| Gross expense ratio | 2.00% |
| Fee waiver | −1.00% |
| Net expense ratio | 1.00% |
| 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 |
LVAFX Costs Over Time
On $10,000 invested in LVAFX, assuming 5% a year before costs, total costs come to $631 over 5 years, cutting the return by 1.06% 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 1.00%) | $105 | $328 | $568 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $347 | $631 |
| Value after costs | $10,394 | $11,229 | $12,131 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
LVAFX 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): 0.0096%
- Total broker commissions: $935
- Bought from dealers (principal trades, not a cost): $1.1M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
LVAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BAML | $185 | 21.27% |
| MORGAN STANLEY & CO, INC | $148 | 17.05% |
| CITIGROUP | $116 | 13.32% |
| BARCLAY BANK PLC | $87 | 9.96% |
| JEFFERIES LLC | $71 | 8.11% |
| J P MORGAN CHASE BANK | $69 | 7.97% |
| MIZUHO SECURITIES USA INC. | $67 | 7.71% |
| UBS INTERNATIONAL INC | $54 | 6.24% |
| S.G. COWEN (OPTIONS) | $54 | 6.15% |
| BERENBERG | $19 | 2.22% |
LVAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SOUTH STREET SECURITIES | $1.1M | 100.00% |
LSV Global Managed Volatility Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LSVFX | Institutional Class | 0.75% | — |
| LVAFX | Investor Class | 1.00% | — |
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.