PARMX Fees and Costs — Parnassus Mid Cap Fund, Investor Shares
Data updated: 2026-07-20
The net expense ratio is 0.95%: a 0.72% management fee plus 0.31% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.0M in broker commissions, 0.0383% of average net assets, and portfolio turnover was 53%.
PARMX Fees and Expenses
Annual operating expenses and sales charges of PARMX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.03% |
| Fee waiver | −0.08% |
| Net expense ratio | 0.95% |
| 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 |
PARMX Costs Over Time
On $10,000 invested in PARMX, assuming 5% a year before costs, total costs come to $618 over 5 years, cutting the return by 1.04% 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $340 | $618 |
| Value after costs | $10,396 | $11,236 | $12,144 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
PARMX 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): 0.0383%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 53%
- Securities on loan, average value: $10.3M
- Net income from securities lending: $30K (0.001% of average net assets)
PARMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC. | $396K | 45.17% |
| ROYAL BANK OF CANADA | $84K | 9.52% |
| Goldman Sachs & Co, LLC | $77K | 8.80% |
| MORGAN STANLEY & CO. LLC | $61K | 6.99% |
| J.P. MORGAN SECURITIES LLC | $59K | 6.71% |
| Sg Americas Securities, Llc | $57K | 6.51% |
| Cantor Fitzgerald & Co. | $42K | 4.84% |
| BNY MELLON CAPITAL MARKETS, LLC | $38K | 4.27% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $34K | 3.85% |
| BARCLAYS CAPITAL INC. | $29K | 3.32% |
Parnassus Mid Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PFPMX | Institutional Shares | 0.75% | — |
| PARMX | Investor Shares | 0.95% | — |
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.