AIVAX Fees and Costs — Virtus NFJ International Value Fund, Administrative Class
Data updated: 2026-09-11
The net expense ratio is 1.20%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.44% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $157K in broker commissions, 0.2320% of average net assets, and portfolio turnover was 56%.
AIVAX Fees and Expenses
Annual operating expenses and sales charges of AIVAX. Prospectus, as of June 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.44% |
| Gross expense ratio | 1.29% |
| Fee waiver | −0.09% |
| Net expense ratio | 1.20% |
| 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 |
AIVAX Costs Over Time
On $10,000 invested in AIVAX, assuming 5% a year before costs, total costs come to $888 over 5 years, cutting the return by 1.50% 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 1.20%) | $126 | $391 | $676 |
| Trading costs (broker commissions) | $24 | $76 | $131 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $150 | $490 | $888 |
| Value after costs | $10,350 | $11,086 | $11,875 |
| Impact on return, per year | 1.50% | 1.50% | 1.50% |
AIVAX 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): 0.2320%
- Total broker commissions: $157K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
AIVAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $32K | 24.38% |
| CitiGroup Global Markets Inc. | $25K | 18.75% |
| GOLDMAN SACHS & CO. LLC | $22K | 16.30% |
| HSBC SECURITIES (USA) INC. | $12K | 9.13% |
| ITAU BBA USA SECURITIES, INC. | $10K | 7.32% |
| ROBERT W. BAIRD & CO. INC. | $8K | 6.14% |
| INSTINET LLC | $8K | 5.76% |
| BOFA SECURITIES, INC. | $7K | 5.29% |
| BTIG, LLC | $6K | 4.30% |
| BARCLAYS CAPITAL, INC. | $3K | 2.62% |
Virtus NFJ International Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ANAVX | Class R6 | 0.90% | none |
| ANJIX | Institutional Class | 0.95% | none |
| AIVAX | Administrative Class | 1.20% | none |
| AFJAX | Class A | 1.30% | 5.50% |
| AFJCX | Class C | 2.05% | 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.