QRVLX Fees and Costs — FPA Queens Road Value Fund
Data updated: 2026-09-28
The net expense ratio is 0.75% (1.41% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $150 in broker commissions, 0.0003% of average net assets, and portfolio turnover was 0%.
QRVLX Fees and Expenses
Annual operating expenses and sales charges of QRVLX. Prospectus, as of September 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | — |
| Other expenses | 0.44% |
| Gross expense ratio | 1.41% |
| Fee waiver | −0.66% |
| Net expense ratio | 0.75% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | Yes |
QRVLX Costs Over Time
On $10,000 invested in QRVLX, assuming 5% a year before costs, total costs come to $472 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $472 |
| Value after costs | $10,421 | $11,318 | $12,291 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
QRVLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0003%
- Total broker commissions: $150
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
QRVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TradeStation Securities, Inc. | $150 | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.