NOLVX Fees and Costs — Large Cap Value Fund
Data updated: 2026-08-28
The net expense ratio is 0.56%: a 0.53% management fee plus 0.23% other expenses, less a 0.20% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $16K in broker commissions, 0.0248% of average net assets, and portfolio turnover was 62%.
NOLVX Fees and Expenses
Annual operating expenses and sales charges of NOLVX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | — |
| Other expenses | 0.23% |
| Gross expense ratio | 0.76% |
| Fee waiver | −0.20% |
| Net expense ratio | 0.56% |
| 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 |
NOLVX Costs Over Time
On $10,000 invested in NOLVX, assuming 5% a year before costs, total costs come to $369 over 5 years, cutting the return by 0.61% 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 0.56%) | $59 | $184 | $321 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $9 | $34 |
| Total costs | $61 | $202 | $369 |
| Value after costs | $10,439 | $11,374 | $12,394 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
NOLVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0248%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $12.5M
- Portfolio turnover (prospectus): 62%
- Securities on loan, average value: $237K
- Net income from securities lending: $1K (0.002% of average net assets)
NOLVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $10K | 64.34% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $5K | 31.98% |
| MERRILL LYNCH INTERNATIONAL | $336 | 2.08% |
| Citibank, National Association | $259 | 1.60% |
NOLVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $11.9M | 95.30% |
| BMO Nesbitt Burns Inc. | $201K | 1.61% |
| JPMorgan Chase Bank, National Association | $180K | 1.44% |
| MORGAN STANLEY & CO. LLC | $72K | 0.57% |
| BNP PARIBAS | $54K | 0.44% |
| CITADEL ADVISORS LLC | $54K | 0.43% |
| Wells Fargo Bank, National Association | $15K | 0.12% |
| Nomura Securities International, Inc. | $10K | 0.08% |
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.