IF you want a fund NTF at a brokerage, you're likely going to buy a share class with a higher ER. This is to help the fund pay the higher shelf space fee for being offered NTF.
It doesn't really matter how the fund assesses the higher ER; what matters is only that it is a higher ER than the TF share class. Many funds get to a higher ER by charging a 12b-1 fee, but not all do. Some may charge a "service fee" without having a 12b-1 plan, so this fee is not shown as a 12b-1 fee. Rather it is buried in the "other fees".
Or the fund may simply charge a higher management fee for the NTF share class and then the management company "pays" for the shelf space (out of its higher management fee). You can see this with TWCUX (0.95% management fee) and TWUIX (0.71% management fee). TWUIX is available w/TF and a $500 min at Vanguard.
At many brokerages, TRP investor shares are available NTF without extracting a higher fee to pay for the NTF shelf space. The advisor shares (that add a 0.25% 12b-1 fee) were designed in part for brokerages that charged even more for NTF shelf space.
Years ago I invested in a TRP fund, advisor share class, at Citicorp Investment Services. Citibank required a $5K min (combined bank/brokerage) for free checking. i was willing to eat $12.50/year (0.25% x $5K) for the "free" banking services. I later transferred the shares to TRP in-kind and exchanged the shares for cheaper investor shares.

@Observant1, I see 500 Error too at 5:30am Central 5/27/24 - on Chrome, Edge, Firefox. These 500 0r 50# errors are for some server issues. I did use PV yesterday afternoon.
But technically, the PV site is UP, https://www.isitdownrightnow.com/portfoliovisualizer.com.html
Edit/Add - I sent an email to [email protected]
HTTP Errors https://www.cloudns.net/blog/http-status-codes-error-500-error-502/
"500 error. the most generic error possible. It doesn’t tell you anything more than the error is in the server.
501 Not Implemented. The server does not support or has not implemented the functionality required to fulfill the request.
502 error. bad gateway. The server was doing a job as a proxy or a gateway and got an invalid response from another upstream server.
503 Service unavailable. This you can see when the server gets too many task and overload or is down due to maintenance.
504 Gateway Timeout. The server, who was performing as a proxy or a gateway, didn’t receive a response in time from the upstream server. There could be a problem with the next server on the network.
505 HTTP Version Not Supported. The server does not support the HTTP protocol version used in the request."

I used Portfolio Visualizer (PV) earlier this evening to perform some backtests.
I then focused on other tasks before returning to Portfolio Visualizer.
A 500 Application Error was generated when accessing https://www.portfoliovisualizer.com.
Oops!
500 Application Error
The application has encountered an unexpected error. Please reload the main page.
The error has been logged and the system administrator has been notified.
This was first noticed at 8:45 PM PT and the issue still exists at 11:30 PM PT.
It's possible system maintenance is in progress but it's customary
to post announcements during maintenance windows.
I don't recall experiencing any 500 Application Errors prior to the recent PV upgrade.

PACLX adds a 12b-1 fee of 0.25%.

Thanks. Dumb idea, according to yours truly.

PACLX adds a 12b-1 fee of 0.25%.

@yogibearbull,
Thanks but I do not see the platforms / brokerages where different classes are available to purchase. That was the useful information previously. While tickers for various classes is appreciated, we could get those also from the fund site. But I do not know how to easily find the brokerages where I can buy any of those classes, except to go to each of the brokerage websites and type in the tickers, and each brokerage has their own way of indicating whether the fund is available there or not. E.g., many times posters here post that a fund is available at Schwab only to find out later that it is available only through their advisory platform.
Not sure why Schwab is pushing more and more funds into their advisory platform. If I have to buy a retail class at Fidelity or buy an institutional class (even at low minimum) at Schwab advisory platform, the additional 0.25% ER for retail class (vs. advisory fees) seems worth it - I do not have to consult with another human being and pay less in the process.
There are days I feel like opening an account at Firsttrade, where there seems to be less friction to buy and a lot more funds are available than at the brokerages we do business with.

@FD1000 - The reference to UTG is that it is a utilities fund and the manager of PRWCX had recently mentioned that he was favorably inclined to utilities and adding to them in his portfolio. It was in no way, shape or form a comparison of the two funds. But I'm guessing that an astute investor such as yourself knew that and was trying to use the statement to somehow justify your post. Get it together.

I get it but
1) As I said already the site shows utilities at 5.5% as of As of 4/30/2024(not long ago). When it gets to 15-20% let's talk, after all, if utilities are such a great bargain, Giroux as one of the best, would load up.
2) UTG is leveraged, do you think PRWCX uses leveraged?
3) Is your intention to follow PRWCX and do your own categories and timing?

"30% in Tech"...according to PRWCX site (link), it's only about 15%
"+3.63% YTD would translate into something close to a 10-11% annual return if it continues" 3.63 / 5 months * 12 months = 8.7%
"Don't look now but a utilities fund I follow (UTG) is up 6.5% over the last 3 weeks."
What is the correlation between UTG to PRWCX. UTG is a leveraged utility CEF fund, while PRWCX is a flexible allocation fund with 5.5% in utilities per the site above.
BTW, YTD UTG made 7%, Google made 25%, PRWCX has more tech than utilities.

I like PVCMX. Lets look at the entire picture since 5/1/2019: M* 5 star fund.
PVCMX CAGR 7.44% VIOO 7.86%
PVMCX MDraw -6.45% VIOO -42.37%
PVCMX SD 5.85% VIOO 26.92%
PVCMX Sharpe .86 VIOO .20
PVCMX Ulcer 1.28 VIOO 13.87
PVCMX achieved comparable upside with substantially less volatility and downside.
IJS metrics is similar to VIOO with less CAGR than PVCMX.
Read David's MFO review:
https://www.mutualfundobserver.com/2019/07/launch-alert-palm-valley-capital-fund-pvcmx/
Also see 9/2020 MFO update.
I am amazed adults cannot understand there is a different tool for different objectives.
Every person has a right to their own objective with their own tool with their own money.
There is no right or wrong.

To revert to the title fund of this thread, below is the fund's performance, taken from its quarterly reports, which are available its website
https://www.palmvalleycapital.com/fundcommentary
and are separate from Cinnamond's occasional other comments
https://www.palmvalleycapital.com/commentary.
The fund commentaries report overall return, its cash percentage, the performance of its equities and the performance of the two small cap benchmarks it uses. In the five years since inception it has underperformed its benchmarks by less than its expense ratio, while providing a smoother ride. One might consider 20% of the fund as part of one's small cap apportionment and 80% as part of one's (attached, so not liquid) cash apportionment.

PVCMX's  PVCMX's  PVCMX's  S&P SmCap   M* SmCap
Overall  Percent  Equity   600 Index   Tot Retn
Quarter   Return   Cash     Return   Return      Index
-------   -------  -------  -------  ---------   --------
2019 Q2    0.70%   91.8%    Absent     -1.93%      -1.35%
2019 Q3    0.50    92.9     > BMks     -0.20       -1.81
2019 Q4    0.22    92.4     Absent      8.20        8.67
2020 Q1    0.79    52.0     Absent    -32.65      -31.61
2020 Q2   10.74    72.5     27.3%      21.94       25.47
2020 Q3    0.89    70       ~=BMks      3.17        4.90
2020 Q4    5.78    Absent   22.14%     31.27       29.29
2021 Q1    3.60    80       19.10      18.23       11.62
2021 Q2    1.16    81.4      6.94       4.50        4.23
2021 Q3   -1.06    79.8     -3.40      -2.85       -3.67
2021 Q4    0.04    79        1.34       5.59        3.72
2022 Q1    1.94    80       10.85      -5.64       -6.18
2022 Q2   -0.74    75.8     -3.22     -14.13      -16.44
2022 Q3   -1.83    76.6     -8.66      -5.20       -3.75
2022 Q4    3.86    78.9     15.36       9.19        8.05
2023 Q1    3.01    79       12.2        2.57        4.90
2023 Q2    1.62    82        4.78       3.38        5.60
2023 Q3    0.56    81       -0.78      -4.93       -4.56
2023 Q4    4.00    77.7     14.25      15.12       14.07
2024 Q1    1.04    81.9      2.11       2.46        5.69
Since
Inception  7.55                         8.47        8.31
(04/30/19)

ICI Fact Book, 2024
The new 2024 ICI Factbook is now available. Both the full PDF (long) & separate chapter PDFs are available; downloadable Excel files for each chapter are also available.
#ICI #MutualFunds #OEFs #ETFs #CEFs #TDFs #529s #401k #403b #IRAs
Quick Facts Guide https://www.icifactbook.org/pdf/2024-factbook-quick-facts-guide.pdf
Fact Book Website www.icifactbook.org/
https://ybbpersonalfinance.proboards.com/post/1490/thread

Observant

The quote above was included in a post you made approximately 2 hours ago on another board.
This highlights just how repetitive your posts can be!
A respondent replied: "Pretty easy to call that. When you are down 10% and pop 2%.
It will work until it doesn't. You are only guessing."
It appears the respondent didn't find this information to be very insightful or beneficial.
That's my view as well.
https://big-bang-investors.proboards.com/post/50337

Observant,
You are funny, you posted that I look in the rearview mirror. I proved you wrong. If you want more proof I can post more.
It seems that you think that the quote "you are down 10% and pop 2%" is a good response. If it is, how can you explain the fact that the SP500 is less than 0.5% from the all-time high?
Yes, it is repetitive, and I have said it in several sites many times since 2010.
BTW, 2 observations:
1) I never mentioned or attacked you in any way. You are the one who started it.
2) Why are you using different names on different sites?

This fund has significantly underperformed recently. I've reduced my position 75% over last few months.

What did you allocate the money to?

This fund has significantly underperformed recently. I've reduced my position 75% over last few months.

The Week in Charts (05/24/24)
The most important charts and themes in markets, including...
00:00 Intro
00:14 Topics
00:42 The AI Show Goes On
09:01 Booming Utilities?
11:12 Housing Market Gridlock
17:35 Jamie Dimon on Credit Spreads & Buybacks
19:43 Roaring Kitty Says Goodbye
21:40 Trouble at Target
23:25 A Great Start
Video

The quote above was included in a post you made approximately 2 hours ago on another board.
This highlights just how repetitive your posts can be!
A respondent replied: "Pretty easy to call that. When you are down 10% and pop 2%.
It will work until it doesn't. You are only guessing."
It appears the respondent didn't find this information to be very insightful or beneficial.
That's my view as well.
https://big-bang-investors.proboards.com/post/50337

Observant,
Let's just look at one thing "Looking in the investment rear-view mirror, this "analysis" is not very insightful or beneficial."
FD: there were many examples in the past, below is just one
This is what I said on Nov 1 2023 (big-bang-investors.proboards.com/post/43353).
Quote "Momo looks good in the last several days. All = a buy before closing."
"You can just play it simple: no diversification, no predictions, no narrow range funds, looks like tilting LC growth is here to stay which = SPY/VOO or you can gamble and use some QQQ."
Now, look at the chart (https://schrts.co/GBZPhZKw)

I've viewed the results of a study which indicated stock markets in more democratic countries
produced higher long-term returns. Although I didn't delve into the details of this study,
it seems logical there would be considerable divergence between the least / most democratic nations.
FRDM has existed for only 5 years but it has trounced EEM during this short time period.
I believe much of the fund's performance can be attributed to excluding China.
Link

May 25 Episode:

Perth Tolle created the Life + LIberty Indexes on the theory that democracy pays. Her Freedom 100 Emerging Markets Index is proof, trouncing its autocracy-heavy benchmark in its first five years.

Oil change schedules depend on the model of car and type of oil (regular vs synthetic). Many imports/foreign brands have longer oil change schedules and use lighter oil (0W20, not common 10W30). Oil life meters (in newer cars) are estimates based on miles driven, number of starts/stops, etc. If my oil life meter is below 30%, I start to think about oil change (it' s usually time) - I don't let it go to 0%. Low-Oil indicator is a serious warning - just drive to the nearest gas station or call a tow truck.
Car manuals indicate schedules for normal and severe driving. Many don't realize that low-mile, stop-and-go driving is actually severe driving. Engine doesn't get warmed up enough to burn up the condensation, and moisture accumulates in the oil pan (some start overflowing) - as the saying goes, oil and water don't mix, and in the crankcase, there is lot of stirring/churning. That is why schedules indicate miles or months. Regular oil also degrades with time, less so for synthetic oil.
Oil changes have other benefits. The shop may alert one to various leaks, rusting emission system, poor tires, etc. Moreover, not following oil change schedule can void car warranty (so, keep receipts so long as the car is under warranty).
https://www.caranddriver.com/features/a26590646/how-often-to-change-oil/