PSMVX Fees and Costs — SmallCap Value Fund II, Class R-6
Data updated: 2026-09-25
The net expense ratio is 0.89%: a 0.88% management fee plus 0.05% other expenses, less a 0.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.4M in broker commissions, 0.1226% of average net assets, and portfolio turnover was 90%.
PSMVX Fees and Expenses
Annual operating expenses and sales charges of PSMVX. Prospectus, as of March 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.88% |
| 12b-1 fee | — |
| Other expenses | 0.05% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.89% |
| 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 |
PSMVX Costs Over Time
On $10,000 invested in PSMVX, assuming 5% a year before costs, total costs come to $633 over 5 years, cutting the return by 1.06% 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 0.89%) | $93 | $292 | $506 |
| Trading costs (broker commissions) | $13 | $40 | $70 |
| Lost growth on money paid in costs | $0 | $16 | $58 |
| Total costs | $106 | $348 | $633 |
| Value after costs | $10,394 | $11,228 | $12,130 |
| Impact on return, per year | 1.06% | 1.06% | 1.06% |
PSMVX 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): 0.1226%
- Total broker commissions: $1.4M
- Bought from dealers (principal trades, not a cost): $16.6M
- Portfolio turnover (prospectus): 90%
- Securities on loan, average value: $11.4M
- Net income from securities lending: $201K (0.018% of average net assets)
PSMVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LIQUIDNET | $295K | 27.87% |
| MERRILL LYNCH PIERCE FENNER & SMITH | $171K | 16.10% |
| J.P. MORGAN SECURITIES LLC | $142K | 13.42% |
| SANFORD C. BERNSTEIN & CO. | $91K | 8.58% |
| JEFFERIES & COMPANY | $84K | 7.91% |
| STIFEL NICOLAUS & COMPANY | $74K | 7.00% |
| INSTINET CLEARING SERVICES INC | $59K | 5.60% |
| UBS SECURITIES LLC | $57K | 5.34% |
| PIPER SANDLER COS | $49K | 4.59% |
| RAYMOND JAMES & ASSOCIATES | $38K | 3.58% |
PSMVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES LLC | $6.0M | 54.38% |
| GOLDMAN SACHS CO. | $3.4M | 30.90% |
| CIBC WORLD MARKETS CORP | $665K | 6.01% |
| KEEFE BRUYETTE & WOODS | $416K | 3.76% |
| MACQUARIE GROUP LTD. | $325K | 2.94% |
| RAYMOND JAMES & ASSOCIATES | $146K | 1.32% |
| BARCLAYS CAPITAL INC. | $45K | 0.41% |
| CITIGROUP GLOBAL MARKETS | $29K | 0.27% |
SmallCap Value Fund II Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PSMVX | Class R-6 | 0.89% | — |
| PPVIX | Institutional Class | 0.94% | — |
| PLARX | Class R-5 | 1.14% | — |
| PSMJX | Class J | 1.21% | — |
| PJARX | Class R-3 | 1.45% | — |
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.