VVISX Fees and Costs — Vulcan Value Partners Small Cap Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 1.00%: a 1.00% management fee plus 0.30% other expenses, less a 0.30% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $117K in broker commissions, 0.1011% of average net assets, and portfolio turnover was 49%.
VVISX Fees and Expenses
Annual operating expenses and sales charges of VVISX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.30% |
| Net expense ratio | 1.00% |
| 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 | Yes |
VVISX Costs Over Time
On $10,000 invested in VVISX, assuming 5% a year before costs, total costs come to $687 over 5 years, cutting the return by 1.16% 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 1.00%) | $105 | $327 | $567 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $378 | $687 |
| Value after costs | $10,384 | $11,198 | $12,075 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
VVISX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1011%
- Total broker commissions: $117K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 49%
- Securities lending: none during the year
VVISX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONESTRADING | $61K | 56.65% |
| CANTOR FITZGERALD & CO. | $11K | 10.13% |
| MORGAN STANLEY | $8K | 7.37% |
| BTIG, LLC | $7K | 6.90% |
| ROTHSCHILD & CO REDBURN | $6K | 5.86% |
| JPMORGAN SECURITIES LLC | $6K | 5.85% |
| BARDI CO. LLC | $2K | 2.08% |
| BARCLAYS CAPITAL INC. | $2K | 1.88% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $2K | 1.85% |
| GOLDMAN SACHS & CO. LLC | $2K | 1.42% |
Vulcan Value Partners Small Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VVISX | Institutional Class | 1.00% | — |
| VVPSX | Investor Class | 1.15% | — |
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.