PSAPX Fees and Costs — SmallCap S&P 600 Index Fund, Class R-1
Data updated: 2026-09-25
The net expense ratio is 1.04%: a 0.15% management fee, a 0.35% 12b-1 fee plus 0.54% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $442K in broker commissions, 0.0337% of average net assets, and portfolio turnover was 36%.
PSAPX Fees and Expenses
Annual operating expenses and sales charges of PSAPX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.35% |
| Other expenses | 0.54% |
| Gross expense ratio | 1.04% |
| Fee waiver | — |
| Net expense ratio | 1.04% |
| 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 |
PSAPX Costs Over Time
On $10,000 invested in PSAPX, assuming 5% a year before costs, total costs come to $671 over 5 years, cutting the return by 1.13% 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 1.04%) | $109 | $340 | $590 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $17 | $62 |
| Total costs | $113 | $369 | $671 |
| Value after costs | $10,387 | $11,207 | $12,092 |
| Impact on return, per year | 1.13% | 1.13% | 1.13% |
PSAPX 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): 0.0337%
- Total broker commissions: $442K
- Bought from dealers (principal trades, not a cost): $384.2M
- Portfolio turnover (prospectus): 36%
- Securities on loan, average value: $6.1M
- Net income from securities lending: $62K (0.005% of average net assets)
PSAPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL NICOLAUS & COMPANY | $96K | 24.02% |
| INSTINET CLEARING SERVICES INC | $68K | 17.14% |
| JEFFERIES & COMPANY | $55K | 13.69% |
| TD BANK FINANCIAL GROUP | $48K | 11.97% |
| COWEN GROUP INC. | $32K | 8.04% |
| PIPER SANDLER COS | $30K | 7.57% |
| HSBC SECURITIES INC. | $26K | 6.57% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $19K | 4.81% |
| RAYMOND JAMES & ASSOCIATES | $14K | 3.52% |
| TELSEY ADVISORY GROUP | $11K | 2.67% |
PSAPX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP | $140.5M | 37.32% |
| BARCLAYS CAPITAL INC. | $111.7M | 29.66% |
| GOLDMAN SACHS CO. | $38.0M | 10.10% |
| RAYMOND JAMES & ASSOCIATES | $31.0M | 8.24% |
| CIBC WORLD MARKETS CORP | $18.3M | 4.87% |
| WELLS FARGO SECURITIES LLC | $17.5M | 4.65% |
| MACQUARIE GROUP LTD. | $17.0M | 4.50% |
| CITIGROUP GLOBAL MARKETS | $2.5M | 0.66% |
SmallCap S&P 600 Index Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PSPIX | Class R-6 | 0.17% | — |
| PSSIX | Institutional Class | 0.21% | — |
| PSSJX | Class J | 0.39% | — |
| PSSPX | Class R-5 | 0.42% | — |
| PSSMX | Class R-3 | 0.73% | — |
| PSAPX | Class R-1 | 1.04% | — |
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.