AAAEX Fees and Costs — Virtus KAR Health Sciences Fund, Class P
Data updated: 2026-09-11
The net expense ratio is 1.03%: a 0.80% management fee plus 0.23% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $12K in broker commissions, 0.0120% of average net assets, and portfolio turnover was 8%.
AAAEX Fees and Expenses
Annual operating expenses and sales charges of AAAEX. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.23% |
| Gross expense ratio | 1.03% |
| Fee waiver | — |
| Net expense ratio | 1.03% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
AAAEX Costs Over Time
On $10,000 invested in AAAEX, assuming 5% a year before costs, total costs come to $651 over 5 years, cutting the return by 1.09% 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 1.03%) | $108 | $337 | $585 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $109 | $358 | $651 |
| Value after costs | $10,391 | $11,218 | $12,112 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
AAAEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0120%
- Total broker commissions: $12K
- Bought from dealers (principal trades, not a cost): $2.9M
- Portfolio turnover (prospectus): 8%
- Securities lending: none during the year
AAAEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $5K | 45.98% |
| RAYMOND JAMES & ASSOCIATES, INC. | $2K | 21.17% |
| SANFORD C. BERNSTEIN & CO., LLC | $1K | 11.78% |
| VIRTU AMERICAS LLC | $545 | 4.69% |
| MORGAN STANLEY & CO. LLC | $522 | 4.49% |
| GOLDMAN SACHS & CO. LLC | $395 | 3.40% |
| ROBERT W. BAIRD & CO. INC. | $388 | 3.34% |
| BOFA SECURITIES, INC. | $266 | 2.29% |
| JEFFERIES LLC | $167 | 1.44% |
| Strategas Securities, LLC | $164 | 1.41% |
AAAEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $1.9M | 66.86% |
| GOLDMAN SACHS & CO. LLC | $963K | 33.14% |
Virtus KAR Health Sciences Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AAAEX | Class P | 1.03% | none |
| HLHIX | Institutional Class | 1.05% | none |
| RAGHX | Class A | 1.40% | 5.50% |
| RCGHX | Class C | 2.16% | none |
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.