Registry rank 1264 · Portfolio as of 2026-05-29

Smead Value Fund

SMVLX · SVFAX · SVFCX · SVFDX · SVFFX · SVFIX · SVFKX · SVFLX · SVFMX · SVFRX · SVFSX · SVFYX

Best-fit active share91.9%vs IWD · fund as of 2026-05-29 · proxy as of 2026-03-31
Declared-benchmark active share94.8%S&P 500 Index · benchmark mismatch · fund as of 2026-05-29 · proxy as of 2026-03-31 · declared source as of 2025-11-30
SMVLX expense ratio1.23%SEC expense filing · as of 2025-11-30
SMVLX fee per active unit1.34%expense as of 2025-11-30; fund as of 2026-05-29; proxy as of 2026-03-31

Filed fees in dollars

SEC-convention illustration

Computed from SEC filings

Assumptions for each dollar figure: $100,000 starting amount · 5.0% annual return · annual compounding · fees deducted annually · 0.01% computed index-control baseline. Methodology.

Illustrated difference between each class’s filed expense ratio and the computed index-control baseline. Computed from SEC filings.
Share class and filing10 years20 years30 years
SMVLX1.23% · SEC expense filing · as of 2025-11-30$17,951$55,203$127,464
SVFAX1.23% · SEC expense filing · as of 2025-11-30$17,951$55,203$127,464
SVFCX1.82% · SEC expense filing · as of 2025-11-30$25,976$77,795$175,182
SVFDX1.60% · SEC expense filing · as of 2025-11-30$23,032$69,656$158,304
SVFFX0.96% · SEC expense filing · as of 2025-11-30$14,140$44,021$102,858
SVFIX0.91% · SEC expense filing · as of 2025-11-30$13,424$41,889$98,094
SVFKX1.45% · SEC expense filing · as of 2025-11-30$20,992$63,915$146,185
SVFLXExpense ratio not filed yetNot filed yetNot filed yetNot filed yet
SVFMXExpense ratio not filed yetNot filed yetNot filed yetNot filed yet
SVFRXExpense ratio not filed yetNot filed yetNot filed yetNot filed yet
SVFSXExpense ratio not filed yetNot filed yetNot filed yetNot filed yet
SVFYX0.81% · SEC expense filing · as of 2025-11-30$11,983$37,566$88,366

Real trailing windows

Computed on licensed market-return history

Trailing windows use IWD adjusted-close total-return history through 2026-07-29 and the same filed index-control fee baseline as the convention table. Methodology.

Dollar fee drag over actual trailing proxy-return windows. Each result below is computed on licensed market-return history.
Share class and filing10 years20 years30 years
SMVLXFiled fee as of 2025-11-30$30,689Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$106,463Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFAXFiled fee as of 2025-11-30$30,689Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$106,463Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFCXFiled fee as of 2025-11-30$44,471Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$150,286Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFDXFiled fee as of 2025-11-30$39,410Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$134,479Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFFXFiled fee as of 2025-11-30$24,157Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$84,830Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFIXFiled fee as of 2025-11-30$22,932Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$80,710Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFKXFiled fee as of 2025-11-30$35,906Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$123,342Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window
SVFLXExpense ratio not filed yetfiled expense ratio unavailablefiled expense ratio unavailablefiled expense ratio unavailable
SVFMXExpense ratio not filed yetfiled expense ratio unavailablefiled expense ratio unavailablefiled expense ratio unavailable
SVFRXExpense ratio not filed yetfiled expense ratio unavailablefiled expense ratio unavailablefiled expense ratio unavailable
SVFSXExpense ratio not filed yetfiled expense ratio unavailablefiled expense ratio unavailablefiled expense ratio unavailable
SVFYXFiled fee as of 2025-11-30$20,466Computed on licensed market-return history
2016-07-29 to 2026-07-29 · proxy return 11.41% annualized
$72,359Computed on licensed market-return history
2006-07-31 to 2026-07-29 · proxy return 8.68% annualized
Proxy history begins 2000 — no full 30-year window

These figures are illustrations, not predictions or personalized advice. Returns and fees can differ. Read the research disclaimer.

Change the illustration

Return mode

Computed from SEC filings

Assumptions for the dollar figures below: $100,000 starting amount; 5.0% annual return; 20 years; annual compounding; fees deducted annually; 0.01% computed index-control baseline. SMVLX SEC expense filing, as of 2025-11-30. Methodology.

SEC-convention illustration for SMVLX; expense ratio filed as of 2025-11-30.
ResultAmount
Ending value at baseline$264,825
Ending value at filed expense ratio$209,622
Difference attributed to fee drag$55,203

This is an illustration, not a prediction or personalized advice. Returns and fees can differ. Read the research disclaimer.

Largest active differences vs IWD

The bars are labeled and repeated in the table; color is not the only signal. Linked company names open Buy Like Buffett’s company record; Sensible Investor does not score stocks.

MACERICH COMPANY (THE)+5.94%
D.R. HORTON, INC.+4.66%
LENNAR CORPORATION+4.11%
HoldingFundIWDDifference
CENOVUS ENERGY INC7.41%0.00%+7.41%
APA CORPORATION6.56%0.05%+6.51%
SIMON PROPERTY GROUP, INC.6.60%0.15%+6.44%
MACERICH COMPANY (THE)5.94%0.00%+5.94%
MERCK & CO., INC.6.37%0.99%+5.38%
AMGEN INC.5.10%0.16%+4.94%
D.R. HORTON, INC.4.78%0.12%+4.66%
DIAMONDBACK ENERGY, INC.4.45%0.13%+4.32%
LENNAR CORPORATION4.17%0.06%+4.11%
TARGET CORPORATION4.12%0.18%+3.94%

Source and verification

SEC N-PORT filing · filed 2026-07-23 · period 2026-05-29

SEC expense filing · period 2025-11-30

Immutable verification record · Active-share method

Cite these figures

Each snippet includes the figure’s source-event date and immutable verification URL.

Best-fit active share

Sensible Investor, “Smead Value Fund — best-fit active share,” 91.9% versus IWD, fund portfolio as of 2026-05-29. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca

SMVLX filed expense ratio

Sensible Investor, “Smead Value Fund — filed expense ratio,” 1.23% for SMVLX, as of 2025-11-30. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca

SMVLX fee per active unit

Sensible Investor, “Smead Value Fund — fee per unit of active management,” 1.34% using the SMVLX expense ratio as of 2025-11-30 and fund portfolio as of 2026-05-29. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca