NOSGX Fees and Costs — Small Cap Value Fund
Data updated: 2026-08-28
The net expense ratio is 0.51%: a 0.45% management fee plus 0.21% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $490K in broker commissions, 0.0738% of average net assets, and portfolio turnover was 46%.
NOSGX Fees and Expenses
Annual operating expenses and sales charges of NOSGX. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.21% |
| Gross expense ratio | 0.67% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.51% |
| 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 |
NOSGX Costs Over Time
On $10,000 invested in NOSGX, assuming 5% a year before costs, total costs come to $368 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 0.51%) | $54 | $168 | $292 |
| Trading costs (broker commissions) | $8 | $24 | $42 |
| Lost growth on money paid in costs | $0 | $9 | $34 |
| Total costs | $61 | $202 | $368 |
| Value after costs | $10,439 | $11,375 | $12,395 |
| Impact on return, per year | 0.61% | 0.61% | 0.61% |
NOSGX 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): 0.0738%
- Total broker commissions: $490K
- Bought from dealers (principal trades, not a cost): $487.3M
- Portfolio turnover (prospectus): 46%
- Securities on loan, average value: $15.9M
- Net income from securities lending: $325K (0.049% of average net assets)
NOSGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $456K | 93.20% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $7K | 1.52% |
| GUZMAN & COMPANY | $7K | 1.48% |
| GOLDMAN SACHS & CO. LLC | $5K | 1.11% |
| MERRILL LYNCH INTERNATIONAL | $5K | 0.98% |
| Citibank, National Association | $4K | 0.84% |
| J.P. MORGAN SECURITIES LLC | $2K | 0.43% |
| PIPER SANDLER & CO. | $1K | 0.24% |
| Loop Capital Markets LLC | $1K | 0.20% |
NOSGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $453.7M | 93.10% |
| BMO Nesbitt Burns Inc. | $14.4M | 2.96% |
| JPMorgan Chase Bank, National Association | $10.1M | 2.08% |
| MORGAN STANLEY & CO. LLC | $3.5M | 0.72% |
| CITADEL ADVISORS LLC | $2.5M | 0.52% |
| Nomura Securities International, Inc. | $1.8M | 0.37% |
| CITIGROUP GLOBAL MARKETS INC. | $682K | 0.14% |
| BNP PARIBAS | $347K | 0.07% |
| GOLDMAN SACHS & CO. LLC | $164K | 0.03% |
| Wells Fargo Bank, National Association | $15K | 0.00% |
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.