AVMTX Fees and Costs — VP Mid Cap Value Fund, Class II
Data updated: 2024-05-29
The net expense ratio is 1.01%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $155K in broker commissions, 0.0236% of average net assets, and portfolio turnover was 74%.
AVMTX Fees and Expenses
Annual operating expenses and sales charges of AVMTX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.01% |
| Fee waiver | — |
| Net expense ratio | 1.01% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AVMTX Costs Over Time
On $10,000 invested in AVMTX, assuming 5% a year before costs, total costs come to $646 over 5 years, cutting the return by 1.09% 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 1.01%) | $106 | $331 | $573 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $109 | $355 | $646 |
| Value after costs | $10,391 | $11,221 | $12,117 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
AVMTX 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): 0.0236%
- Total broker commissions: $155K
- Bought from dealers (principal trades, not a cost): $3.8B
- Portfolio turnover (prospectus): 74%
- Securities on loan, average value: $1.6M
- Net income from securities lending: $45K (0.007% of average net assets)
AVMTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein | $19K | 15.97% |
| Morgan Stanley | $18K | 14.99% |
| Bank of America Merrill Lynch | $18K | 14.86% |
| Citigroup Capital Markets Inc | $17K | 14.13% |
| Evercore ISI Investment Group | $14K | 11.82% |
| J.P. Morgan Securities | $9K | 7.80% |
| UBS Warburg | $8K | 6.64% |
| Barclays Capital | $7K | 6.28% |
| Wells Fargo Securities | $5K | 4.13% |
| BNP Paribas Securities | $4K | 3.38% |
AVMTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets | $2.7B | 72.00% |
| BMO Capital Markets | $542.6M | 14.24% |
| J.P. Morgan Securities | $230.1M | 6.04% |
| Bank of America Merrill Lynch | $124.8M | 3.27% |
| Morgan Stanley | $84.2M | 2.21% |
| Goldman Sachs | $71.0M | 1.86% |
| Toronto-Dominion Corp | $12.2M | 0.32% |
| UBS Warburg | $2.5M | 0.07% |
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.