Fees and Expenses
|
Feb. 27, 2026 |
| THIRD AVENUE VALUE FUND |
|
| Prospectus [Line Items] |
|
| Expense Heading [Optional Text] |
Fees and Expenses
|
| Expense Narrative [Text Block] |
This table describes the fees and expenses that you pay if you buy and hold shares of Third Avenue Value Fund. Investors transacting in Fund shares through a financial intermediary acting as a broker in an agency capacity may be required to pay a commission directly to the broker.
|
| Shareholder Fees [Table] |
| Shareholder
Fees (fees paid directly from your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Maximum Sales Charge (Load) Imposed on Purchases |
|
None |
|
None |
|
None |
| Maximum Deferred Sales Charge (Load) |
|
None |
|
None |
|
None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions |
|
None |
|
None |
|
None |
|
| Annual Fund Operating Expenses [Table] |
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Management (Advisory) Fee |
|
0.90% |
|
0.90% |
|
0.90% |
| Distribution (12b-1) Fees |
|
None |
|
0.25% |
|
None |
| Acquired Fund Fees and Expenses (“AFFE”) |
|
0.01% |
|
0.01% |
|
0.01% |
| Other Expenses |
|
0.25% |
|
0.23% |
|
0.18% |
| Total Annual Fund Operating Expenses (as a percentage of net assets)1 |
|
1.16% |
|
1.39% |
|
1.09% |
| Fee Deferred/Expenses Reimbursed2 |
|
0.00% |
|
0.00% |
|
(0.02)% |
| Net Annual Fund Operating Expenses1,2 |
|
1.16% |
|
1.39% |
|
1.07% |
| 1 |
“Total Annual Fund Operating Expenses” will not correlate to the ratio of expenses to average net assets that will be disclosed in the Fund’s Annual and Semi-Annual Financials and Additional Information in the financial highlights table, which reflects the operating expenses of the Fund and does not include “Acquired Fund Fees and Expenses.” |
| 2 |
The Fund’s investment adviser, Third Avenue Management LLC (the “Adviser”) has contractually agreed, for a period
of one year from the date of this Prospectus, to defer receipt of advisory fees and/or reimburse Fund expenses in order to limit Net
Annual Fund Operating Expenses (exclusive of taxes, interest expenses, expenses of utilizing any redemption liquidity or management programs, brokerage commissions,
acquired fund fees and expenses, and extraordinary expenses) to 1.15%, 1.40% and 1.05% of the average daily net assets of the Institutional
Class, Investor Class and Z Class, respectively, subject to later reimbursement by the respective classes in certain circumstances (the
“Expense Limitation Agreement”). In general, for a period of up to 36 months from the time of any deferral, reimbursement,
or payment pursuant to the above-described contractual expense limitations, the Adviser may recover from each class of the Fund fees deferred
and expenses paid to the extent that such repayment would not cause the Net Annual Fund Operating Expenses of each class to exceed the
contractual expense limitation amounts set forth above, but any repayment will not include interest. The Adviser’s recovery is limited
to the lesser of the expense limitation at the time of the waiver and the time of recapture. Net Annual Fund Operating Expenses as presented in the table above were higher than the amounts set forth in the Expense Limitation Agreement for the most recent fiscal year due to “Acquired Fund Fees and Expenses” and expenses of utilizing redemption liquidity or management programs, which are excluded from contractual expense limits. |
|
| Expense Example [Heading] |
Example
|
| Expense Example Narrative [Text Block] |
The following example is intended to help you compare the cost of investing in Third Avenue Value Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
| Expense Example, With Redemption [Table] |
| |
|
Year 1 |
|
Year 3 |
|
Year 5 |
|
Year 10 |
| Institutional Class |
|
$118 |
|
$368 |
|
$638 |
|
$1,409 |
| Investor Class |
|
$142 |
|
$440 |
|
$761 |
|
$1,669 |
| Z Class |
|
$109 |
|
$345 |
|
$599 |
|
$1,327 |
|
| Expense Example Closing [Text Block] |
The Example reflects the impact of the Expense Limitation Agreement in year one only. The Example should not be considered a representation of past or future expenses, as actual expenses may be greater or lower than those shown.
|
| Portfolio Turnover [Heading] |
Portfolio Turnover
|
| Portfolio Turnover [Text Block] |
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 23% of the average value of its portfolio.
|
| Portfolio Turnover, Rate |
23.00%
|
| THIRD AVENUE SMALL-CAP VALUE FUND |
|
| Prospectus [Line Items] |
|
| Expense Heading [Optional Text] |
Fees and Expenses
|
| Expense Narrative [Text Block] |
This table describes the fees and expenses that you pay if you buy and hold shares of Third Avenue Small-Cap Value Fund. Investors transacting in Fund shares through a financial intermediary acting as a broker in an agency capacity may be required to pay a commission directly to the broker.
|
| Shareholder Fees [Table] |
| Shareholder
Fees (fees paid directly from your investment): |
|
Institutional
Class |
|
Investor
Class |
|
Z
Class |
| Maximum Sales Charge (Load) Imposed on Purchases |
|
None |
|
None |
|
None |
| Maximum Deferred Sales Charge (Load) |
|
None |
|
None |
|
None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions |
|
None |
|
None |
|
None |
|
| Annual Fund Operating Expenses [Table] |
| Annual
Fund Operating Expenses (expenses
that you pay each year as a percentage of the value of your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Management (Advisory) Fee |
|
0.90% |
|
0.90% |
|
0.90% |
| Distribution (12b-1) Fees |
|
None |
|
0.25% |
|
None |
| Acquired Fund Fees and Expenses (“AFFE”) |
|
0.03% |
|
0.03% |
|
0.03% |
| Other Expenses |
|
0.33% |
|
0.33% |
|
0.27% |
| Total Annual Fund Operating Expenses (as a percentage of net assets)1 |
|
1.26% |
|
1.51% |
|
1.20% |
| Fee Deferred/Expenses Reimbursed2 |
|
(0.07)% |
|
(0.07)% |
|
(0.11)% |
| Net Annual Fund Operating Expenses1,2 |
|
1.19% |
|
1.44% |
|
1.09% |
| 1 |
“Total Annual Fund Operating Expenses” will not correlate to the ratio of expenses to average net assets that will be disclosed in the Fund’s Annual and Semi-Annual Financials and Additional Information in the financial highlights table, which reflects the operating expenses of the Fund and does not include “Acquired Fund Fees and Expenses.” |
| 2 |
The Fund’s investment adviser, Third Avenue Management LLC (the “Adviser”) has contractually agreed, for a period of one year from the date of this Prospectus, to defer receipt of advisory fees and/or reimburse Fund expenses in order to limit Net Annual Fund Operating Expenses (exclusive of taxes, interest expenses, expenses of utilizing any redemption liquidity or management programs, brokerage commissions,
acquired fund fees and expenses, and extraordinary expenses) to 1.15%, 1.40% and 1.05% of the average daily net assets of the Institutional
Class, Investor Class and Z Class, respectively, subject to later reimbursement by the respective classes in certain circumstances (the
“Expense Limitation Agreement”). In general, for a period of up to 36 months from the time of any deferral, reimbursement,
or payment pursuant to the above-described contractual expense limitations, the Adviser may recover from each class of the Fund fees deferred
and expenses paid to the extent that such repayment would not cause the Net Annual Fund Operating Expenses of each class to exceed the
contractual expense limitation amounts set forth above, but any repayment will not include interest. The Adviser’s recovery is limited
to the lesser of the expense limitation at the time of the waiver and the time of recapture. Net Annual Fund Operating Expenses as presented in the table above were higher than the amounts set forth in the Expense Limitation Agreement for the most recent fiscal year due to “Acquired Fund Fees and Expenses” and expenses of utilizing redemption liquidity or management programs, which are excluded from contractual expense limits. |
|
| Expense Example [Heading] |
Example
|
| Expense Example Narrative [Text Block] |
The following example is intended to help you compare the cost of investing in Third Avenue Small-Cap Value Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
| Expense Example, With Redemption [Table] |
| |
|
Year 1 |
|
Year 3 |
|
Year 5 |
|
Year 10 |
| Institutional Class |
|
$121 |
|
$393 |
|
$685 |
|
$1,516 |
| Investor Class |
|
$147 |
|
$470 |
|
$817 |
|
$1,796 |
| Z Class |
|
$111 |
|
$370 |
|
$649 |
|
$1,445 |
|
| Expense Example Closing [Text Block] |
The Example reflects the impact of the Expense Limitation Agreement in year one only. The Example should not be considered a representation of past or future expenses, as actual expenses may be greater or lower than those shown.
|
| Portfolio Turnover [Heading] |
Portfolio Turnover
|
| Portfolio Turnover [Text Block] |
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 15% of the average value of its portfolio.
|
| Portfolio Turnover, Rate |
15.00%
|
| THIRD AVENUE REAL ESTATE VALUE FUND |
|
| Prospectus [Line Items] |
|
| Expense Heading [Optional Text] |
Fees and Expenses
|
| Expense Narrative [Text Block] |
This table describes the fees and expenses that you pay if you buy and hold shares of Third Avenue Real Estate Value Fund. Investors transacting in Fund shares through a financial intermediary acting as a broker in an agency capacity may be required to pay a commission directly to the broker.
|
| Shareholder Fees [Table] |
| Shareholder
Fees (fees
paid directly from your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Maximum Sales Charge (Load) Imposed on Purchases |
|
None |
|
None |
|
None |
| Maximum Deferred Sales Charge (Load) |
|
None |
|
None |
|
None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions |
|
None |
|
None |
|
None |
|
| Annual Fund Operating Expenses [Table] |
| Annual
Fund Operating Expenses (expenses
that you pay each year as a percentage of the value of your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Management (Advisory) Fee |
|
0.90% |
|
0.90% |
|
0.90% |
| Distribution (12b-1) Fees |
|
None |
|
0.25% |
|
None |
| Acquired Fund Fees and Expenses (“AFFE”) |
|
0.01% |
|
0.01% |
|
0.01% |
| Other Expenses |
|
0.27% |
|
0.27% |
|
0.20% |
| Total
Annual Fund Operating Expenses (as a percentage of net assets)1 |
|
1.18% |
|
1.43% |
|
1.11% |
| Fee Deferred/Expenses Reimbursed2 |
|
(0.01)% |
|
(0.01)% |
|
(0.04)% |
| Net Annual Fund Operating Expenses1,2 |
|
1.17% |
|
1.42% |
|
1.07% |
| 1 |
“Total
Annual Fund Operating Expenses” will not correlate to the ratio of expenses to average net assets that will be disclosed in
the Fund’s Annual and Semi-Annual Financials and Additional Information in the financial highlights table, which reflects the
operating expenses of the Fund and does not include “Acquired Fund Fees and Expenses.” |
| 2 |
The Fund’s investment adviser, Third Avenue Management LLC (the “Adviser”) has contractually agreed, for a period of one year from the date of this Prospectus, to defer receipt of advisory fees and/or reimburse Fund expenses in order to limit Net Annual Fund Operating Expenses (exclusive of taxes, interest expenses, expenses of utilizing any redemption liquidity or management programs, brokerage commissions,
acquired fund fees and expenses, and extraordinary expenses) to 1.15%, 1.40% and 1.05% of the average daily net assets of the Institutional
Class, Investor Class and Z Class, respectively, subject to later reimbursement by the respective classes in certain circumstances (the
“Expense Limitation Agreement”). In general, for a period of up to 36 months from the time of any deferral, reimbursement,
or payment pursuant to the above-described contractual expense limitations, the Adviser may recover from each class of the Fund fees deferred
and expenses paid to the extent that such repayment would not cause the Net Annual Fund Operating Expenses of each class to exceed the
contractual expense limitation amounts set forth above, but any repayment will not include interest. The Adviser’s recovery is limited
to the lesser of the expense limitation at the time of the waiver and the time of recapture. Net Annual Fund Operating Expenses as presented in the table above were higher than the amounts set forth in the Expense Limitation Agreement for the most recent fiscal year due to “Acquired Fund Fees and Expenses” and expenses of utilizing redemption liquidity or management programs, which are excluded from contractual expense limits. |
|
| Expense Example [Heading] |
Example
|
| Expense Example Narrative [Text Block] |
The following example is intended to help you compare the cost of investing in Third Avenue Real Estate Value Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
| Expense Example, With Redemption [Table] |
| |
|
Year 1 |
|
Year 3 |
|
Year 5 |
|
Year 10 |
| Institutional Class |
|
$119 |
|
$374 |
|
$648 |
|
$1,431 |
| Investor Class |
|
$145 |
|
$451 |
|
$781 |
|
$1,712 |
| Z Class |
|
$109 |
|
$349 |
|
$608 |
|
$1,348 |
|
| Expense Example Closing [Text Block] |
The Example reflects the impact of the Expense Limitation Agreement in year one only. The Example should not be considered a representation of past or future expenses, as actual expenses may be greater or lower than those shown.
|
| Portfolio Turnover [Heading] |
Portfolio Turnover
|
| Portfolio Turnover [Text Block] |
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 16% of the average value of its portfolio.
|
| Portfolio Turnover, Rate |
16.00%
|
| Third Avenue International Real Estate Value Fund |
|
| Prospectus [Line Items] |
|
| Expense Heading [Optional Text] |
Fees and Expenses
|
| Expense Narrative [Text Block] |
This table describes the fees and expenses that you pay if you buy and hold shares of Third Avenue International Real Estate Value Fund. Investors transacting in Fund shares through a financial intermediary acting as a broker in an agency capacity may be required to pay a commission directly to the broker.
|
| Shareholder Fees [Table] |
| Shareholder
Fees (fees
paid directly from your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Maximum Sales Charge (Load) Imposed on Purchases |
|
None |
|
None |
|
None |
| Maximum Deferred Sales Charge (Load) |
|
None |
|
None |
|
None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions |
|
None |
|
None |
|
None |
|
| Annual Fund Operating Expenses [Table] |
| Annual
Fund Operating Expenses (expenses
that you pay each year as a percentage of the value of your investment): |
|
Institutional Class |
|
Investor Class |
|
Z Class |
| Management (Advisory) Fee |
|
0.90% |
|
0.90% |
|
0.90% |
| Distribution (12b-1) Fees |
|
None |
|
0.25% |
|
None |
| Acquired Fund Fees and Expenses (“AFFE”) |
|
0.01% |
|
0.01% |
|
0.01% |
| Other Expenses |
|
0.61% |
|
0.61% |
|
0.55% |
| Total Annual Fund Operating Expenses (as a percentage of net assets)1 |
|
1.52% |
|
1.77% |
|
1.46% |
| Less Fee Waiver/Expenses Reimbursed2 |
|
(0.51)% |
|
(0.51)% |
|
(0.45)% |
| Net Annual Fund Operating Expenses1,2 |
|
1.01% |
|
1.26% |
|
1.01% |
| 1 |
“Total Annual Fund Operating Expenses” will not correlate to the ratio of expenses to average net assets that will be disclosed in the Fund’s Annual and Semi-Annual Financials and Additional Information in the financial highlights table, which reflects the operating expenses of the Fund and does not include “Acquired Fund Fees and Expenses.” |
| 2 |
The Fund’s investment adviser, Third Avenue Management LLC (the “Adviser”) has contractually agreed, for a period of one year from the date of this Prospectus, to waive advisory fees and/or reimburse Fund expenses in order to limit Net Annual Fund Operating Expenses (exclusive of taxes, interest expenses, expenses of utilizing any redemption liquidity or management programs, brokerage commissions,
acquired fund fees and expenses, dividend and interest expense on short sales and extraordinary expenses) to 1.00% of the average daily
net assets of the Institutional Class and Z Class and 1.25 % of the average daily net assets of the Investor Class, respectively (the
“Expense Limitation Agreement”). The Expense Limitation Agreement may be terminated only by the Board of Trustees of Third
Avenue Trust. |
|
| Expense Example [Heading] |
Example
|
| Expense Example Narrative [Text Block] |
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
| Expense Example, With Redemption [Table] |
| |
|
Year 1 |
|
Year 3 |
|
Year 5 |
|
Year 10 |
| Institutional Class |
|
$103 |
|
$430 |
|
$781 |
|
$1,769 |
| Investor Class |
|
$128 |
|
$508 |
|
$912 |
|
$2,042 |
| Z Class |
|
$103 |
|
$418 |
|
$755 |
|
$1,708 |
|
| Expense Example Closing [Text Block] |
The Example reflects the impact of the Expense Limitation Agreement in year one only. The Example should not be considered a representation of past or future expenses, as actual expenses may be greater or lower than those shown.
|
| Portfolio Turnover [Heading] |
Portfolio Turnover
|
| Portfolio Turnover [Text Block] |
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 54% of the average value of its portfolio.
|
| Portfolio Turnover, Rate |
54.00%
|