PVFIX Fees and Costs — Pinnacle Value Fund, N/a Class
Data updated: 2026-08-28
The net expense ratio is 1.31% (1.64% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $21K in broker commissions, 0.0621% of average net assets, and portfolio turnover was 48%.
PVFIX Fees and Expenses
Annual operating expenses and sales charges of PVFIX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.64% |
| Fee waiver | −0.33% |
| Net expense ratio | 1.31% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PVFIX Costs Over Time
On $10,000 invested in PVFIX, assuming 5% a year before costs, total costs come to $852 over 5 years, cutting the return by 1.44% 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 1.31%) | $138 | $428 | $738 |
| Trading costs (broker commissions) | $7 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $22 | $78 |
| Total costs | $144 | $470 | $852 |
| Value after costs | $10,356 | $11,106 | $11,911 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
PVFIX 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): 0.0621%
- Total broker commissions: $21K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
PVFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $7K | 34.89% |
| Virtu ITG, LLC | $7K | 34.42% |
| Canaccord Genuity, LLC | $7K | 30.69% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.