AGFAX Fees and Costs — Virtus AllianzGI Global Dynamic Allocation Fund, Administrative Class
Data updated: 2022-08-25
The net expense ratio is 0.80%: a 0.70% management fee, a 0.25% 12b-1 fee plus 0.43% other expenses, less a 0.59% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $31K in broker commissions, 0.0617% of average net assets, and portfolio turnover was 206%.
AGFAX Fees and Expenses
Annual operating expenses and sales charges of AGFAX. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.43% |
| Gross expense ratio | 1.39% |
| Fee waiver | −0.59% |
| Net expense ratio | 0.80% |
| 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 |
AGFAX Costs Over Time
On $10,000 invested in AGFAX, assuming 5% a year before costs, total costs come to $540 over 5 years, cutting the return by 0.90% 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 0.80%) | $84 | $262 | $456 |
| Trading costs (broker commissions) | $6 | $20 | $35 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $297 | $540 |
| Value after costs | $10,410 | $11,280 | $12,222 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
AGFAX 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): 0.0617%
- Total broker commissions: $31K
- Bought from dealers (principal trades, not a cost): $826.7M
- Portfolio turnover (prospectus): 206%
- Securities lending: none during the year
AGFAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $12K | 38.80% |
| CITIGROUP GLOBAL MARKETS INC. | $4K | 14.50% |
| INSTINET, LLC | $4K | 13.59% |
| MORGAN STANLEY & CO. LLC | $3K | 8.50% |
| JEFFERIES LLC | $2K | 7.70% |
| UBS Securities LLC | $2K | 6.33% |
| J.P. Morgan Securities LLC | $2K | 5.83% |
| BOFA SECURITIES, INC. | $572 | 1.92% |
| CREDIT SUISSE SECURITIES (USA) LLC | $449 | 1.51% |
| SANFORD C. BERNSTEIN & CO., LLC | $399 | 1.34% |
AGFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $729.9M | 91.76% |
| BOFA SECURITIES, INC. | $10.5M | 1.32% |
| GOLDMAN SACHS & CO. LLC | $8.9M | 1.12% |
| MORGAN STANLEY & CO. LLC | $8.8M | 1.11% |
| CitiGroup Global Markets Inc. | $8.3M | 1.04% |
| J.P. Morgan Securities LLC | $7.6M | 0.95% |
| UBS SECURITIES LLC | $5.8M | 0.73% |
| CITADEL SECURITIES LLC | $5.7M | 0.72% |
| WELLS FARGO SECURITIES, LLC | $5.4M | 0.68% |
| EUROCLEAR BANK | $4.5M | 0.57% |
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.