LVAZX Fees and Costs — Lsv Emerging Markets Equity Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 1.20%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.41% other expenses, less a 0.46% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $104K in broker commissions, 0.0783% of average net assets, and portfolio turnover was 27%.
LVAZX Fees and Expenses
Annual operating expenses and sales charges of LVAZX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.41% |
| Gross expense ratio | 1.66% |
| Fee waiver | −0.46% |
| Net expense ratio | 1.20% |
| 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 |
LVAZX Costs Over Time
On $10,000 invested in LVAZX, assuming 5% a year before costs, total costs come to $795 over 5 years, cutting the return by 1.34% 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 1.20%) | $126 | $392 | $678 |
| Trading costs (broker commissions) | $8 | $26 | $44 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $134 | $438 | $795 |
| Value after costs | $10,366 | $11,138 | $11,968 |
| Impact on return, per year | 1.34% | 1.34% | 1.34% |
LVAZX 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): 0.0783%
- Total broker commissions: $104K
- Bought from dealers (principal trades, not a cost): $239.6M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
LVAZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BAML | $40K | 38.78% |
| MORGAN STANLEY & CO, INC | $18K | 17.37% |
| UBS INTERNATIONAL INC | $17K | 15.90% |
| J P MORGAN CHASE BANK | $13K | 12.60% |
| CITIGROUP | $8K | 7.98% |
| JEFFERIES LLC | $6K | 5.84% |
| LIQUIDNET | $1K | 1.37% |
| CAPIS | $114 | 0.11% |
| BANK OF NEW YORK | $28 | 0.03% |
| MACQUARIE CAPITAL | $22 | 0.02% |
LVAZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SOUTH STREET SECURITIES | $239.6M | 100.00% |
Lsv Emerging Markets 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 |
|---|---|---|---|
| LSVZX | Institutional Class | 0.95% | — |
| LVAZX | Investor Class | 1.20% | — |
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.