MBOVX Fees and Costs — M Large Cap Value Fund
Data updated: 2026-05-12
The net expense ratio is 0.63%: a 0.43% management fee plus 0.20% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $40K in broker commissions, 0.0247% of average net assets, and portfolio turnover was 48%.
MBOVX Fees and Expenses
Annual operating expenses and sales charges of MBOVX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 0.63% |
| Fee waiver | — |
| Net expense ratio | 0.63% |
| 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 |
MBOVX Costs Over Time
On $10,000 invested in MBOVX, assuming 5% a year before costs, total costs come to $412 over 5 years, cutting the return by 0.69% 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 0.63%) | $66 | $207 | $361 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $11 | $38 |
| Total costs | $69 | $226 | $412 |
| Value after costs | $10,431 | $11,350 | $12,350 |
| Impact on return, per year | 0.69% | 0.69% | 0.69% |
MBOVX 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): 0.0247%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 48%
- Securities on loan, average value: $695K
- Net income from securities lending: $592 (0.000% of average net assets)
MBOVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $11K | 29.97% |
| Goldman Sachs & Co. LLC | $6K | 16.70% |
| JonesTrading Institutional Services LLC | $4K | 10.77% |
| Stifel, Nicolaus & Company, Incorporated | $4K | 9.52% |
| RBC Capital Markets, LLC | $3K | 8.18% |
| BofA Securities, Inc. | $3K | 7.49% |
| Liquidnet, Inc. | $2K | 5.72% |
| Piper Sandler & Co. | $2K | 5.31% |
| Raymond James & Associates, Inc. | $1K | 3.45% |
| Nomura Securities International, Inc. | $1K | 2.89% |
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.