MAVSX Fees and Costs — Small Cap Value Fund, Class
Data updated: 2020-11-24
The net expense ratio is 0.85%: a 0.85% management fee plus 1.60% other expenses, less a 1.60% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $9K in broker commissions, 0.0800% of average net assets, and portfolio turnover was 42%.
MAVSX Fees and Expenses
Annual operating expenses and sales charges of MAVSX. Prospectus, as of April 30, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 1.60% |
| Gross expense ratio | 2.45% |
| Fee waiver | −1.60% |
| Net expense ratio | 0.85% |
| 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 | No |
MAVSX Costs Over Time
On $10,000 invested in MAVSX, assuming 5% a year before costs, total costs come to $583 over 5 years, cutting the return by 0.98% 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 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $8 | $26 | $46 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $98 | $320 | $583 |
| Value after costs | $10,402 | $11,256 | $12,180 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
MAVSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0800%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $20.6M
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
MAVSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 19.98% |
| J.P. MORGAN SECURITIES LLC | $1K | 14.70% |
| BNY MELLON CAPITAL MARKETS, LLC | $864 | 11.49% |
| Goldman Sachs & Co, LLC | $768 | 10.22% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $768 | 10.22% |
| Virtu Americas LLC | $547 | 7.28% |
| National Financial Services LLC | $537 | 7.14% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $528 | 7.02% |
| MORGAN STANLEY & CO. LLC | $461 | 6.14% |
| Jefferies LLC | $436 | 5.80% |
MAVSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $6.6M | 31.83% |
| BNY MELLON CAPITAL MARKETS, LLC | $5.9M | 28.55% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $4.0M | 19.61% |
| Wells Fargo Securities LLC | $2.7M | 13.20% |
| Goldman Sachs & Co, LLC | $1.2M | 6.05% |
| MORGAN STANLEY & CO. LLC | $100K | 0.48% |
| Brown Brothers Harriman & Co. | $46K | 0.22% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $12K | 0.06% |
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.