AVPUX Fees and Costs — VP Ultra Fund, Class I
Data updated: 2024-05-29
The net expense ratio is 0.75% (0.89% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $19K in broker commissions, 0.0069% of average net assets, and portfolio turnover was 24%.
AVPUX Fees and Expenses
Annual operating expenses and sales charges of AVPUX. Prospectus, as of April 30, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.89% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.14% |
| Net expense ratio | 0.75% |
| 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 |
AVPUX Costs Over Time
On $10,000 invested in AVPUX, assuming 5% a year before costs, total costs come to $476 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $79 | $261 | $476 |
| Value after costs | $10,421 | $11,315 | $12,287 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
AVPUX 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): 0.0069%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $396.1M
- Portfolio turnover (prospectus): 24%
- Securities on loan, average value: $371K
- Net income from securities lending: $915 (0.000% of average net assets)
AVPUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein | $2K | 16.70% |
| Bank of America Merrill Lynch | $2K | 15.54% |
| Morgan Stanley | $2K | 11.94% |
| Citigroup Capital Markets Inc | $1K | 9.38% |
| J.P. Morgan Securities | $1K | 9.23% |
| Jefferies LLC | $1K | 9.16% |
| UBS Warburg | $1K | 8.28% |
| Evercore ISI Investment Group | $1K | 7.79% |
| Stiffel Nicholas Capital Markets | $920 | 6.59% |
| Piper Sandler and Company | $751 | 5.38% |
AVPUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets | $314.2M | 79.33% |
| BMO Capital Markets | $58.4M | 14.73% |
| J.P. Morgan Securities | $8.3M | 2.09% |
| UBS Warburg | $7.7M | 1.94% |
| Goldman Sachs | $2.5M | 0.63% |
| Toronto-Dominion Corp | $2.0M | 0.50% |
| Morgan Stanley | $1.8M | 0.45% |
| Bank of America Merrill Lynch | $1.3M | 0.33% |
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.