SABTX Fees and Costs — SA U.S. Value Fund
Data updated: 2026-09-03
The net expense ratio is 0.74%: a 0.50% management fee, a 0.15% 12b-1 fee plus 0.09% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0017% of average net assets, and portfolio turnover was 11%.
SABTX Fees and Expenses
Annual operating expenses and sales charges of SABTX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.09% |
| Gross expense ratio | 0.74% |
| Fee waiver | — |
| Net expense ratio | 0.74% |
| 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 | No |
| Waived fees subject to recoupment | No |
SABTX Costs Over Time
On $10,000 invested in SABTX, assuming 5% a year before costs, total costs come to $466 over 5 years, cutting the return by 0.78% 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 0.74%) | $78 | $243 | $423 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $78 | $256 | $466 |
| Value after costs | $10,422 | $11,321 | $12,296 |
| Impact on return, per year | 0.78% | 0.78% | 0.78% |
SABTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0017%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $101.5M
- Portfolio turnover (prospectus): 11%
- Securities on loan, average value: $1.5M
- Net income from securities lending: $2K (0.000% of average net assets)
SABTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $3K | 35.63% |
| Nomura Securities International, Inc. | $2K | 24.82% |
| BNY Capital Markets, LLC | $2K | 16.98% |
| Goldman Sachs & Co. LLC | $906 | 9.48% |
| Citigroup Global Markets Inc. | $459 | 4.80% |
| BofA Securities, Inc. | $355 | 3.71% |
| UBS Securities LLC | $341 | 3.56% |
| Stifel, Nicolaus & Company, Incorporated | $97 | 1.01% |
SABTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $101.5M | 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.