AZBAX Fees and Costs — Virtus Small-Cap Fund, Class A
Data updated: 2026-09-11
The net expense ratio is 1.17%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.37% other expenses, less a 0.05% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2026 the fund paid $121K in broker commissions, 0.1260% of average net assets, and portfolio turnover was 95%.
AZBAX Fees and Expenses
Annual operating expenses and sales charges of AZBAX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.22% |
| Fee waiver | −0.05% |
| Net expense ratio | 1.17% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
AZBAX Costs Over Time
On $10,000 invested in AZBAX, assuming 5% a year before costs, total costs come to $1,464 over 5 years, cutting the return by 2.53% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.17%) | $116 | $361 | $624 |
| Trading costs (broker commissions) | $13 | $39 | $67 |
| Lost growth on money paid in costs | $28 | $107 | $222 |
| Total costs | $706 | $1,057 | $1,464 |
| Value after costs | $9,794 | $10,520 | $11,299 |
| Impact on return, per year | 7.06% | 3.30% | 2.53% |
AZBAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1260%
- Total broker commissions: $121K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 95%
- Securities on loan, average value: $755K
- Net income from securities lending: $26K (0.027% of average net assets)
AZBAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $58K | 47.85% |
| JEFFERIES LLC | $33K | 27.61% |
| CitiGroup Global Markets Inc. | $16K | 13.54% |
| SANFORD C. BERNSTEIN & CO., LLC | $6K | 5.01% |
| HSBC SECURITIES (USA) INC. | $4K | 3.49% |
| MORGAN STANLEY & CO. LLC | $2K | 1.26% |
| CREDIT AGRICOLE SECURITIES (USA), INC. | $838 | 0.69% |
| BARCLAYS CAPITAL, INC. | $566 | 0.47% |
| INSTINET LLC | $100 | 0.08% |
Virtus Small-Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ASCFX | Class R6 | 0.77% | none |
| AZBIX | Institutional Class | 0.82% | none |
| AZBAX | Class A | 1.17% | 5.50% |
| AZBCX | Class C | 1.92% | 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.