NQVAX Fees and Costs — Nuveen Multi Cap Value Fund, Class A
Data updated: 2026-09-10
The net expense ratio is 1.15%: a 0.69% management fee, a 0.25% 12b-1 fee plus 0.28% other expenses, less a 0.07% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2026 the fund paid $781K in broker commissions, 0.0872% of average net assets, and portfolio turnover was 30%.
NQVAX Fees and Expenses
Annual operating expenses and sales charges of NQVAX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.07% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
NQVAX Costs Over Time
On $10,000 invested in NQVAX, assuming 5% a year before costs, total costs come to $1,460 over 5 years, cutting the return by 2.52% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.15%) | $114 | $354 | $613 |
| Trading costs (broker commissions) | $9 | $27 | $46 |
| Lost growth on money paid in costs | $29 | $110 | $226 |
| Total costs | $726 | $1,066 | $1,460 |
| Value after costs | $9,774 | $10,511 | $11,303 |
| Impact on return, per year | 7.26% | 3.33% | 2.52% |
NQVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0872%
- Total broker commissions: $781K
- Bought from dealers (principal trades, not a cost): $985.6M
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $3.2M
- Net income from securities lending: $12K (0.001% of average net assets)
NQVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $136K | 20.59% |
| National Financial Services LLC | $130K | 19.77% |
| Jefferies LLC | $98K | 14.82% |
| Liquidnet INC. | $98K | 14.78% |
| Instinet LLC | $56K | 8.52% |
| Barclays Capital Inc. | $41K | 6.26% |
| Cowen and Company | $33K | 5.03% |
| Raymond James & Associates Inc. | $32K | 4.88% |
| BNP Paribas Securities Corp. | $19K | 2.93% |
| Robert W. Baird & Co. Incorporated | $16K | 2.40% |
NQVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Financial Services LLC | $169.0M | 22.34% |
| RBC Capital Markets, LLC | $132.7M | 17.55% |
| Jefferies LLC | $114.3M | 15.12% |
| Liquidnet INC. | $97.9M | 12.94% |
| Instinet LLC | $56.6M | 7.49% |
| Cowen and Company | $43.1M | 5.69% |
| Piper Sandler & Co. | $42.0M | 5.56% |
| UBS Financial Services Inc. | $39.9M | 5.28% |
| BNP Paribas Securities Corp. | $30.8M | 4.08% |
| Sanford C. Bernstein & Co., LLC | $29.9M | 3.95% |
Nuveen Multi Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NQVRX | Class I | 0.90% | none |
| NQVAX | Class A | 1.15% | 5.75% |
| NQVCX | Class C | 1.90% | none |
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.