PVIVX Fees and Costs — Paradigm Micro-Cap 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 $508K in broker commissions, 0.3515% of average net assets, and portfolio turnover was 81%.
PVIVX Fees and Expenses
Annual operating expenses and sales charges of PVIVX. 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 |
PVIVX Costs Over Time
On $10,000 invested in PVIVX, assuming 5% a year before costs, total costs come to $996 over 5 years, cutting the return by 1.69% 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 | $410 | $707 |
| Trading costs (broker commissions) | $37 | $114 | $197 |
| Lost growth on money paid in costs | $0 | $26 | $92 |
| Total costs | $169 | $551 | $996 |
| Value after costs | $10,331 | $11,026 | $11,767 |
| Impact on return, per year | 1.69% | 1.69% | 1.69% |
PVIVX 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): 0.3515%
- Total broker commissions: $508K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 81%
- Securities lending: none during the year
PVIVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONESTRADING | $51K | 16.10% |
| LIQUIDNET, INC. | $50K | 15.88% |
| GAR WOOD SECURITIES, LLC | $42K | 13.21% |
| STEPHENS | $31K | 9.85% |
| NEEDHAM & COMPANY, LLC | $30K | 9.67% |
| PIPER SANDLER & CO. | $28K | 8.96% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $26K | 8.43% |
| RAYMOND JAMES & ASSOCIATES, INC. | $20K | 6.24% |
| B. RILEY SECURITIES, INC. | $19K | 6.17% |
| OPPENHEIMER & CO. INC. | $17K | 5.49% |
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.