ASFYX Fees and Costs — Virtus AlphaSimplex Managed Futures Strategy Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.45%: a 1.25% management fee plus 0.34% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.7M in broker commissions, 0.1186% of average net assets.
ASFYX Fees and Expenses
Annual operating expenses and sales charges of ASFYX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.34% |
| Gross expense ratio | 1.59% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.45% |
| 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 |
ASFYX Costs Over Time
On $10,000 invested in ASFYX, assuming 5% a year before costs, total costs come to $970 over 5 years, cutting the return by 1.65% 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 1.45%) | $152 | $472 | $814 |
| Trading costs (broker commissions) | $12 | $39 | $67 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $165 | $536 | $970 |
| Value after costs | $10,335 | $11,040 | $11,793 |
| Impact on return, per year | 1.65% | 1.65% | 1.65% |
ASFYX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1186%
- Total broker commissions: $1.7M
- Bought from dealers (principal trades, not a cost): $20.2B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
ASFYX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $635K | 38.00% |
| GOLDMAN SACHS & CO. LLC | $572K | 34.25% |
| MORGAN STANLEY & CO. LLC | $425K | 25.45% |
| SG AMERICAS SECURITIES LLC | $30K | 1.82% |
| MAREX SPECTRON USA LLC | $8K | 0.48% |
ASFYX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $17.2B | 85.34% |
| OPPENHEIMER & CO. INC. | $1.8B | 8.92% |
| ICAP SECURITIES USA LLC | $654.9M | 3.24% |
| BNY MELLON CAPITAL MARKETS, LLC | $291.0M | 1.44% |
| CIBC WORLD MARKETS CORP. | $111.5M | 0.55% |
| RBC CAPITAL MARKETS, LLC | $102.0M | 0.50% |
Virtus AlphaSimplex Managed Futures Strategy Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AMFNX | Class R6 | 1.33% | none |
| ASFYX | Class I | 1.45% | none |
| AMFAX | Class A | 1.70% | 5.50% |
| ASFCX | Class C | 2.45% | 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.