PFSLX Fees and Costs — Paradigm Select Fund
Data updated: 2026-08-26
The net expense ratio is 1.16%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $48K in broker commissions, 0.0404% of average net assets, and portfolio turnover was 11%.
PFSLX Fees and Expenses
Annual operating expenses and sales charges of PFSLX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.15% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
PFSLX Costs Over Time
On $10,000 invested in PFSLX, assuming 5% a year before costs, total costs come to $748 over 5 years, cutting the return by 1.26% 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 1.16%) | $122 | $379 | $656 |
| Trading costs (broker commissions) | $4 | $13 | $23 |
| Lost growth on money paid in costs | $0 | $19 | $69 |
| Total costs | $126 | $412 | $748 |
| Value after costs | $10,374 | $11,164 | $12,015 |
| Impact on return, per year | 1.26% | 1.26% | 1.26% |
PFSLX 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): 0.0404%
- Total broker commissions: $48K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 11%
- Securities lending: none during the year
PFSLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NORTHCOAST RESEARCH PARTNERS, LLC | $6K | 18.24% |
| LIQUIDNET, INC. | $5K | 14.73% |
| GAR WOOD SECURITIES, LLC | $4K | 12.34% |
| LOOP CAPITAL MARKETS LLC | $3K | 9.62% |
| RAYMOND JAMES & ASSOCIATES, INC. | $3K | 9.20% |
| ROTH CAPITAL PARTNERS, LLC | $3K | 8.73% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $2K | 6.98% |
| JONESTRADING | $2K | 6.88% |
| RBC CAPITAL MARKETS, LLC | $2K | 6.78% |
| KEYBANC CAPITAL MARKETS INC. | $2K | 6.50% |
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.