PARWX Fees and Costs — Parnassus Value Equity Fund, Investor Shares
Data updated: 2026-07-20
The net expense ratio is 0.88%: a 0.66% management fee plus 0.31% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.1M in broker commissions, 0.0225% of average net assets, and portfolio turnover was 34%.
PARWX Fees and Expenses
Annual operating expenses and sales charges of PARWX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 0.97% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.88% |
| 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 |
PARWX Costs Over Time
On $10,000 invested in PARWX, assuming 5% a year before costs, total costs come to $566 over 5 years, cutting the return by 0.95% 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 0.88%) | $92 | $289 | $501 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $311 | $566 |
| Value after costs | $10,405 | $11,266 | $12,197 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
PARWX 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): 0.0225%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 34%
- Securities on loan, average value: $15.0M
- Net income from securities lending: $28K (0.001% of average net assets)
PARWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC. | $656K | 63.87% |
| Cantor Fitzgerald & Co. | $104K | 10.15% |
| ROYAL BANK OF CANADA | $53K | 5.13% |
| Sg Americas Securities, Llc | $48K | 4.72% |
| BNY MELLON CAPITAL MARKETS, LLC | $46K | 4.51% |
| Jefferies LLC | $31K | 3.05% |
| Goldman Sachs & Co, LLC | $30K | 2.90% |
| MORGAN STANLEY & CO. LLC | $27K | 2.59% |
| Robert W. Baird & Co. | $17K | 1.66% |
| RAYMOND JAMES (USA) LTD. | $14K | 1.41% |
Parnassus Value Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PFPWX | Institutional Shares | 0.65% | — |
| PARWX | Investor Shares | 0.88% | — |
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.