OBSIX Fees and Costs — Oberweis Small-Cap Opportunities Fund, Institutional Class
Data updated: 2026-08-28
The net expense ratio is 1.00%: a 0.80% management fee plus 0.21% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.0713% of average net assets, and portfolio turnover was 58%.
OBSIX Fees and Expenses
Annual operating expenses and sales charges of OBSIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.01% |
| Net expense ratio | 1.00% |
| 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 |
OBSIX Costs Over Time
On $10,000 invested in OBSIX, assuming 5% a year before costs, total costs come to $669 over 5 years, cutting the return by 1.12% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $7 | $23 | $40 |
| Lost growth on money paid in costs | $0 | $17 | $61 |
| Total costs | $112 | $368 | $669 |
| Value after costs | $10,388 | $11,208 | $12,094 |
| Impact on return, per year | 1.12% | 1.12% | 1.12% |
OBSIX 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): 0.0713%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $40K
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
OBSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $746K | 70.43% |
| Cabrera Capital Markets LLC | $61K | 5.80% |
| Needham & Co. | $47K | 4.44% |
| Instinet, LLC | $46K | 4.33% |
| JonesTrading Institutional Services LLC | $43K | 4.02% |
| Stifel, Nicolaus Co., Inc. | $35K | 3.34% |
| William Blair & Company LLC | $22K | 2.09% |
| Craig-Hallum Capital | $22K | 2.07% |
| Raymond James, Ltd. | $20K | 1.86% |
| Piper Sandler & Co | $17K | 1.62% |
OBSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP Morgan Securities, Inc | $40K | 100.00% |
Oberweis Small-Cap Opportunities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| OBSIX | Institutional Class | 1.00% | — |
| OBSOX | Investor Class | 1.25% | — |
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.