AVIIX Fees and Costs — VP International Fund, Class I
Data updated: 2024-05-29
The net expense ratio is 1.09%: a 1.06% management fee plus 0.14% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $81K in broker commissions, 0.0480% of average net assets, and portfolio turnover was 40%.
AVIIX Fees and Expenses
Annual operating expenses and sales charges of AVIIX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 1.06% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.11% |
| Net expense ratio | 1.09% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
AVIIX Costs Over Time
On $10,000 invested in AVIIX, assuming 5% a year before costs, total costs come to $710 over 5 years, cutting the return by 1.19% 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 1.09%) | $114 | $357 | $617 |
| Trading costs (broker commissions) | $5 | $16 | $27 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $119 | $391 | $710 |
| Value after costs | $10,381 | $11,186 | $12,053 |
| Impact on return, per year | 1.19% | 1.19% | 1.19% |
AVIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0480%
- Total broker commissions: $81K
- Bought from dealers (principal trades, not a cost): $506.4M
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $4.0M
- Net income from securities lending: $14K (0.008% of average net assets)
AVIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities | $11K | 17.33% |
| Citigroup Capital Markets Inc | $10K | 16.26% |
| Morgan Stanley | $8K | 13.23% |
| Bank of America Merrill Lynch | $8K | 12.14% |
| UBS Warburg | $5K | 8.27% |
| Sanford C. Bernstein | $5K | 7.99% |
| Jefferies LLC | $5K | 7.33% |
| Goldman Sachs | $4K | 6.33% |
| RBC Capital Markets | $4K | 5.92% |
| Barclays Capital | $3K | 5.21% |
AVIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets | $330.7M | 65.31% |
| BMO Capital Markets | $62.2M | 12.28% |
| J.P. Morgan Securities | $32.9M | 6.50% |
| Bank of America Merrill Lynch | $28.9M | 5.71% |
| Goldman Sachs | $27.1M | 5.36% |
| Morgan Stanley | $14.7M | 2.90% |
| UBS Warburg | $9.6M | 1.90% |
| Barclays Capital | $168K | 0.03% |
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.