SPRNX Fees and Costs — Sprucegrove International Equity Fund, Institutional Class Shares
Data updated: 2025-05-28
The net expense ratio is 0.60%. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $119K in broker commissions, 0.0859% of average net assets, and portfolio turnover was 14%.
SPRNX Fees and Expenses
Annual operating expenses and sales charges of SPRNX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | — |
| Other expenses | 0.32% |
| Gross expense ratio | — |
| Fee waiver | −0.22% |
| Net expense ratio | 0.60% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 | No |
SPRNX Costs Over Time
On $10,000 invested in SPRNX, assuming 5% a year before costs, total costs come to $432 over 5 years, cutting the return by 0.72% 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 0.60%) | $63 | $197 | $343 |
| Trading costs (broker commissions) | $9 | $28 | $49 |
| Lost growth on money paid in costs | $0 | $11 | $39 |
| Total costs | $72 | $237 | $432 |
| Value after costs | $10,428 | $11,340 | $12,331 |
| Impact on return, per year | 0.72% | 0.72% | 0.72% |
SPRNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0859%
- Total broker commissions: $119K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 14%
- Securities lending: none during the year
SPRNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET | $29K | 28.49% |
| GOLDMAN, SACHS & CO. | $23K | 22.69% |
| SOCIETE GENERALE | $10K | 9.76% |
| DAIWA SECURITIES AMERICA, I | $9K | 9.28% |
| BERENBERG | $7K | 7.12% |
| CITIGROUP | $5K | 5.16% |
| PEEL HUNT INCORPORATED | $5K | 4.84% |
| MACQUARIE EQUITIES (USA) IN | $5K | 4.62% |
| DBS VICKERS | $4K | 4.20% |
| ICICI | $4K | 3.84% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.