PAVLX Fees and Costs — T. Rowe Price Value Fund, Inc., Advisor Class
Data updated: 2026-08-27
The net expense ratio is 0.95%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.16% other expenses, less a 0.01% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $7.7M in broker commissions, 0.0257% of average net assets, and portfolio turnover was 60%.
PAVLX Fees and Expenses
Annual operating expenses and sales charges of PAVLX. Prospectus, as of February 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.96% |
| Fee waiver | −0.01% |
| 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 |
PAVLX Costs Over Time
On $10,000 invested in PAVLX, assuming 5% a year before costs, total costs come to $611 over 5 years, cutting the return by 1.02% 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) | $3 | $8 | $15 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $336 | $611 |
| Value after costs | $10,398 | $11,241 | $12,152 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
PAVLX 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): 0.0257%
- Total broker commissions: $7.7M
- Bought from dealers (principal trades, not a cost): $110.5M
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $64.0M
- Net income from securities lending: $119K (0.000% of average net assets)
PAVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $935K | 17.23% |
| JEFFERIES LLC | $661K | 12.18% |
| BOFA SECURITIES, INC. | $650K | 11.98% |
| GOLDMAN SACHS & CO. LLC | $590K | 10.87% |
| MORGAN STANLEY & CO. LLC | $466K | 8.58% |
| Citigroup Inc. | $463K | 8.54% |
| UBS AG | $456K | 8.40% |
| WELLS FARGO SECURITIES, LLC | $452K | 8.32% |
| RBC Capital Markets, LLC | $420K | 7.73% |
| EVERCORE GROUP L.L.C. | $335K | 6.18% |
PAVLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $54.2M | 49.54% |
| BOFA SECURITIES, INC. | $30.9M | 28.22% |
| TD Securities Ltd. | $9.3M | 8.51% |
| GOLDMAN SACHS & CO. LLC | $8.2M | 7.47% |
| BARCLAYS CAPITAL INC. | $1.9M | 1.78% |
| WELLS FARGO SECURITIES, LLC | $1.6M | 1.50% |
| MORGAN STANLEY & CO. LLC | $1.0M | 0.95% |
| MIZUHO SECURITIES USA LLC | $751K | 0.69% |
| RBC Capital Markets, LLC | $751K | 0.69% |
| Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. | $728K | 0.66% |
T. Rowe Price Value Fund, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRZAX | Z Class | 0.00% | — |
| TRPIX | I Class | 0.57% | — |
| TRVLX | T. Rowe Price Value Fund, Inc. | 0.71% | — |
| PAVLX | Advisor Class | 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.