APEIX Fees and Costs — Virtus AllianzGI Preferred Securities and Income Fund, Institutional Class
Data updated: 2022-08-25
The net expense ratio is 0.55%: a 0.45% management fee plus 0.53% other expenses, less a 0.43% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $578 in broker commissions, 0.0026% of average net assets, and portfolio turnover was 132%.
APEIX Fees and Expenses
Annual operating expenses and sales charges of APEIX. Prospectus, as of January 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.53% |
| Gross expense ratio | 0.98% |
| Fee waiver | −0.43% |
| Net expense ratio | 0.55% |
| 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 |
APEIX Costs Over Time
On $10,000 invested in APEIX, assuming 5% a year before costs, total costs come to $349 over 5 years, cutting the return by 0.58% 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 0.55%) | $58 | $181 | $315 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $58 | $191 | $349 |
| Value after costs | $10,442 | $11,385 | $12,414 |
| Impact on return, per year | 0.58% | 0.58% | 0.58% |
APEIX 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): 0.0026%
- Total broker commissions: $578
- Bought from dealers (principal trades, not a cost): $124.0M
- Portfolio turnover (prospectus): 132%
- Securities lending: none during the year
APEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INSTINET, LLC | $552 | 95.64% |
| GOLDMAN SACHS & CO. LLC | $25 | 4.36% |
APEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| STATE STREET GLOBAL MARKETS, LLC | $53.5M | 54.94% |
| J.P. Morgan Securities LLC | $9.3M | 9.52% |
| WELLS FARGO SECURITIES, LLC | $5.3M | 5.46% |
| CitiGroup Global Markets Inc. | $5.2M | 5.33% |
| BNP PARIBAS SECURITIES CORP. | $5.2M | 5.30% |
| UBS SECURITIES LLC | $4.8M | 4.88% |
| MARKETAXESS CORPORATION | $4.1M | 4.18% |
| MILLENNIUM ADVISORS, LLC | $3.7M | 3.82% |
| BARCLAYS CAPITAL, INC. | $3.2M | 3.31% |
| BOFA SECURITIES, INC. | $3.2M | 3.26% |
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.