TMVAX Fees and Costs — RBC Microcap Value Fund, Class A
Data updated: 2025-08-25
The net expense ratio is 1.47% (1.78% before fee waivers). This share class carries a maximum front-end sales load of 5.75%. In fiscal 2024 the fund paid $134K in broker commissions, 0.1233% of average net assets, and portfolio turnover was 22%.
TMVAX Fees and Expenses
Annual operating expenses and sales charges of TMVAX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.78% |
| Fee waiver | −0.31% |
| Net expense ratio | 1.47% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
TMVAX Costs Over Time
On $10,000 invested in TMVAX, assuming 5% a year before costs, total costs come to $1,662 over 5 years, cutting the return by 2.89% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.47%) | $145 | $451 | $777 |
| Trading costs (broker commissions) | $12 | $38 | $65 |
| Lost growth on money paid in costs | $29 | $115 | $244 |
| Total costs | $761 | $1,179 | $1,662 |
| Value after costs | $9,739 | $10,397 | $11,101 |
| Impact on return, per year | 7.61% | 3.69% | 2.89% |
TMVAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1233%
- Total broker commissions: $134K
- Bought from dealers (principal trades, not a cost): $24.1M
- Portfolio turnover (prospectus): 22%
- Securities lending: none during the year
TMVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CANTOR FITZGERALD & CO. | $44K | 32.90% |
| Pershing LLC | $44K | 32.78% |
| BOFA SECURITIES, INC. | $11K | 8.52% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $11K | 8.24% |
| JEFFERIES LLC | $11K | 8.10% |
| OPPENHEIMER & CO. INC. | $6K | 4.61% |
| Raymond James & Associates, Inc. | $3K | 2.47% |
| UBS Securities LLC | $2K | 1.70% |
| CITIGROUP GLOBAL MARKETS INC. | $828 | 0.62% |
| MORGAN STANLEY & CO. LLC | $76 | 0.06% |
TMVAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC BlueBay U.S. Government Money Market Fund | $24.1M | 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.