RPFGX Fees and Costs — Davis Financial Fund, Class A
Data updated: 2026-08-27
The net expense ratio is 0.94%: a 0.55% management fee, a 0.24% 12b-1 fee plus 0.15% other expenses. This share class carries a maximum front-end sales load of 4.75% and a deferred sales charge of up to 0.50%. In fiscal 2025 the fund paid $87K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 10%.
RPFGX Fees and Expenses
Annual operating expenses and sales charges of RPFGX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.24% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.94% |
| Fee waiver | — |
| Net expense ratio | 0.94% |
| Sales charges | |
|---|---|
| Max front load | 4.75% |
| Max deferred load | 0.50% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
RPFGX Costs Over Time
On $10,000 invested in RPFGX, assuming 5% a year before costs, total costs come to $1,172 over 5 years, cutting the return by 2.00% 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 |
| Sales charges | $525 | $475 | $475 |
| Fund expenses (net expense ratio 0.94%) | $94 | $293 | $509 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $24 | $90 | $183 |
| Total costs | $643 | $860 | $1,172 |
| Value after costs | $9,857 | $10,716 | $11,591 |
| Impact on return, per year | 6.43% | 2.67% | 2.00% |
RPFGX 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): 0.0079%
- Total broker commissions: $87K
- Bought from dealers (principal trades, not a cost): $4.4B
- Portfolio turnover (prospectus): 10%
- Securities lending: none during the year
RPFGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $25K | 28.98% |
| Goldman, Sachs & Co. LLC | $18K | 21.16% |
| J.P. Morgan Securities LLC | $18K | 20.85% |
| Deutsche Bank Securities Inc. | $11K | 13.02% |
| BTIG, LLC | $7K | 7.74% |
| Citigroup Global Markets, Inc. | $5K | 5.21% |
| Piper Sandler & Co. | $1K | 1.72% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $700 | 0.81% |
| JonesTrading Institutional Services LLC | $455 | 0.52% |
RPFGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| StoneX Financial Inc. | $3.1B | 69.59% |
| Nomura Securities International, Inc. | $1.3B | 29.56% |
| Reflow Services, LLC | $36.9M | 0.84% |
| Brean Capital, LLC | $427K | 0.01% |
| Morgan Stanley & Co. LLC | $8K | 0.00% |
Davis Financial Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| DVFYX | Class Y | 0.69% | none |
| RPFGX | Class A | 0.94% | 4.75% |
| DFFCX | Class C | 1.74% | none |
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.