AERIX Fees and Costs — Virtus AllianzGI Emerging Markets Consumer Fund, Institutional Class
Data updated: 2021-12-14
The net expense ratio is 1.05%: a 0.85% management fee plus 0.82% other expenses, less a 0.62% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $28K in broker commissions, 0.1803% of average net assets, and portfolio turnover was 57%.
AERIX Fees and Expenses
Annual operating expenses and sales charges of AERIX. Prospectus, as of January 31, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.82% |
| Gross expense ratio | 1.67% |
| Fee waiver | −0.62% |
| Net expense ratio | 1.05% |
| 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 |
AERIX Costs Over Time
On $10,000 invested in AERIX, assuming 5% a year before costs, total costs come to $766 over 5 years, cutting the return by 1.29% 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 1.05%) | $110 | $343 | $594 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $129 | $422 | $766 |
| Value after costs | $10,371 | $11,154 | $11,997 |
| Impact on return, per year | 1.29% | 1.29% | 1.29% |
AERIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.1803%
- Total broker commissions: $28K
- Bought from dealers (principal trades, not a cost): $26.9M
- Portfolio turnover (prospectus): 57%
- Securities lending: none during the year
AERIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $9K | 36.97% |
| HSBC SECURITIES (USA) INC. | $3K | 12.49% |
| J.P. Morgan Securities LLC | $2K | 9.86% |
| BOFA SECURITIES, INC. | $2K | 8.59% |
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 7.43% |
| MIRAE ASSET SECURITIES (USA) INC. | $2K | 6.82% |
| UBS Securities LLC | $2K | 6.42% |
| MORGAN STANLEY & CO. LLC | $2K | 6.24% |
| GOLDMAN SACHS & CO. LLC | $705 | 2.84% |
| CITIGROUP GLOBAL MARKETS INC. | $578 | 2.33% |
AERIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $26.9M | 100.00% |
| CitiGroup Global Markets Inc. | $0 | 0.00% |
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.