SVXFX Fees and Costs — Smead International Value Fund, Class I1
Data updated: 2026-07-23
The net expense ratio is 1.16% (1.20% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $89K in broker commissions, 0.0524% of average net assets, and portfolio turnover was 30%.
SVXFX Fees and Expenses
Annual operating expenses and sales charges of SVXFX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.29% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.16% |
| 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 |
SVXFX Costs Over Time
On $10,000 invested in SVXFX, assuming 5% a year before costs, total costs come to $755 over 5 years, cutting the return by 1.27% 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 1.16%) | $122 | $379 | $656 |
| Trading costs (broker commissions) | $6 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $20 | $69 |
| Total costs | $127 | $416 | $755 |
| Value after costs | $10,373 | $11,160 | $12,008 |
| Impact on return, per year | 1.27% | 1.27% | 1.27% |
SVXFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0524%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $104.7M
- Portfolio turnover (prospectus): 30%
- Securities lending: none during the year
SVXFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| OUTSET GLOBAL LLP | $30K | 33.97% |
| BNP PARIBAS SECURITIES CORP. | $12K | 13.97% |
| CIBC WORLD MARKETS CORP | $10K | 11.42% |
| KEPLER CHEUVREUX | $7K | 8.31% |
| RBC CAPITAL MARKETS, LLC | $6K | 7.05% |
| SCOTIA CAPITAL USA INC | $6K | 6.55% |
| Redburn (USA) LLC | $5K | 6.10% |
| Citigroup Global Markets Inc. | $4K | 4.49% |
| Bank of Montreal | $4K | 4.43% |
| JP Morgan Securities LLC | $3K | 3.71% |
SVXFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| The Northern Trust Company | $104.7M | 100.00% |
Smead International Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SVXYX | Class Y | 1.01% | none |
| SVXIX | Class I2 | 1.11% | none |
| SVXFX | Class I1 | 1.16% | none |
| SVXLX | Investor Class Shares | 1.26% | none |
| SVXAX | Class A | 1.43% | 5.75% |
| SVXCX | Class C | 2.01% | 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.