PESAX Fees and Costs — LargeCap Value Fund III, Class R-1
Data updated: 2026-09-25
The net expense ratio is 1.58%: a 0.76% management fee, a 0.35% 12b-1 fee plus 0.54% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.2M in broker commissions, 0.0334% of average net assets, and portfolio turnover was 60%.
PESAX Fees and Expenses
Annual operating expenses and sales charges of PESAX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.76% |
| 12b-1 fee | 0.35% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.65% |
| Fee waiver | −0.07% |
| Net expense ratio | 1.58% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
PESAX Costs Over Time
On $10,000 invested in PESAX, assuming 5% a year before costs, total costs come to $997 over 5 years, cutting the return by 1.69% 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 1.58%) | $166 | $514 | $886 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $169 | $551 | $997 |
| Value after costs | $10,331 | $11,025 | $11,766 |
| Impact on return, per year | 1.69% | 1.69% | 1.69% |
PESAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0334%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $4.6M
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $2.1M
- Net income from securities lending: $200K (0.006% of average net assets)
PESAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST SECURITIES | $365K | 36.85% |
| PIPER SANDLER COS | $257K | 25.91% |
| MORGAN STANLEY & CO. LLC. | $71K | 7.21% |
| TD BANK FINANCIAL GROUP | $53K | 5.33% |
| STIFEL NICOLAUS & COMPANY | $52K | 5.20% |
| J.P. MORGAN SECURITIES LLC | $43K | 4.31% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $41K | 4.13% |
| LIQUIDNET | $38K | 3.82% |
| BARCLAYS CAPITAL INC. | $37K | 3.75% |
| INSTINET CLEARING SERVICES INC | $35K | 3.50% |
PESAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES LLC | $2.7M | 71.88% |
| GOLDMAN SACHS CO. | $703K | 18.81% |
| CIBC WORLD MARKETS CORP | $175K | 4.68% |
| RAYMOND JAMES & ASSOCIATES | $173K | 4.64% |
LargeCap Value Fund III Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PLVIX | Institutional Class | 0.68% | — |
| PLVJX | Class J | 0.92% | — |
| PPSRX | Class R-5 | 0.93% | — |
| PPSFX | Class R-3 | 1.24% | — |
| PESAX | Class R-1 | 1.58% | — |
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.