PVFAX Fees and Costs — Paradigm Value Fund
Data updated: 2026-08-26
The net expense ratio is 1.26%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $42K in broker commissions, 0.0912% of average net assets, and portfolio turnover was 12%.
PVFAX Fees and Expenses
Annual operating expenses and sales charges of PVFAX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 1.26% |
| Fee waiver | — |
| Net expense ratio | 1.26% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PVFAX Costs Over Time
On $10,000 invested in PVFAX, assuming 5% a year before costs, total costs come to $839 over 5 years, cutting the return by 1.42% 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 1.26%) | $132 | $411 | $711 |
| Trading costs (broker commissions) | $10 | $30 | $51 |
| Lost growth on money paid in costs | $0 | $22 | $77 |
| Total costs | $142 | $463 | $839 |
| Value after costs | $10,358 | $11,113 | $11,924 |
| Impact on return, per year | 1.42% | 1.42% | 1.42% |
PVFAX 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): 0.0912%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 12%
- Securities lending: none during the year
PVFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $6K | 17.60% |
| STEPHENS | $5K | 16.30% |
| KEYBANC CAPITAL MARKETS INC. | $4K | 11.35% |
| LIQUIDNET, INC. | $4K | 10.91% |
| GAR WOOD SECURITIES, LLC | $3K | 10.54% |
| WILLIAM BLAIR | $3K | 8.01% |
| NEEDHAM & COMPANY, LLC | $2K | 7.36% |
| RBC CAPITAL MARKETS, LLC | $2K | 6.51% |
| PIPER SANDLER & CO. | $2K | 5.84% |
| CANTOR FITZGERALD & CO. | $2K | 5.58% |
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.