MAPOX Fees and Costs — Mairs & Power Balanced Fund
Data updated: 2026-08-17
The net expense ratio is 0.72%: a 0.60% management fee plus 0.12% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $36K in broker commissions, 0.0051% of average net assets, and portfolio turnover was 13%.
MAPOX Fees and Expenses
Annual operating expenses and sales charges of MAPOX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | — |
| Other expenses | 0.12% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MAPOX Costs Over Time
On $10,000 invested in MAPOX, assuming 5% a year before costs, total costs come to $456 over 5 years, cutting the return by 0.76% 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 0.72%) | $76 | $237 | $411 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $250 | $456 |
| Value after costs | $10,424 | $11,326 | $12,307 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
MAPOX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0051%
- Total broker commissions: $36K
- Bought from dealers (principal trades, not a cost): $102.2M
- Portfolio turnover (prospectus): 13%
- Securities lending: none during the year
MAPOX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP INC. | $36K | 99.75% |
| PIPER SANDLER & CO. | $92 | 0.25% |
MAPOX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $37.1M | 36.30% |
| MARKET AXESS INC. | $22.3M | 21.84% |
| WELLS FARGO SECURITIES LLC | $12.4M | 12.11% |
| JANE STREET EXECUTION SERVICES LLC | $11.3M | 11.08% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $5.9M | 5.79% |
| RBC CAPITAL MARKETS LLC | $5.4M | 5.28% |
| BNY MELLON CAPITAL MARKETS LLC | $3.0M | 2.94% |
| MISCHLER FINANCIAL GROUP INC. | $2.6M | 2.59% |
| MESIROW FINANCIAL INC. | $1.1M | 1.05% |
| HILLTOP SECURITIES INC. | $1.1M | 1.03% |
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.