C000258265 Fees and Costs — Venerable US Small Cap Fund, Class V
Data updated: 2026-08-26
The net expense ratio is 0.87%: a 0.85% management fee, a 0.30% 12b-1 fee plus 0.26% other expenses, less a 0.54% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $120K in broker commissions, 0.0829% of average net assets, and portfolio turnover was 24%.
C000258265 Fees and Expenses
Annual operating expenses and sales charges of C000258265. Prospectus, as of July 16, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.30% |
| Other expenses | 0.26% |
| Gross expense ratio | 1.41% |
| Fee waiver | −0.54% |
| Net expense ratio | 0.87% |
| 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 |
C000258265 Costs Over Time
On $10,000 invested in C000258265, assuming 5% a year before costs, total costs come to $597 over 5 years, cutting the return by 1.00% 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 0.87%) | $91 | $285 | $495 |
| Trading costs (broker commissions) | $9 | $27 | $47 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $328 | $597 |
| Value after costs | $10,400 | $11,248 | $12,166 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
C000258265 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): 0.0829%
- Total broker commissions: $120K
- Bought from dealers (principal trades, not a cost): $53.2M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
C000258265 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $46K | 40.20% |
| Barclays Capital Inc. | $14K | 12.56% |
| Morgan Stanley & Co. LLC | $14K | 11.82% |
| UBS Securities LLC | $13K | 11.27% |
| BofA Securities, Inc. | $7K | 6.26% |
| Goldman Sachs & Co. LLC | $5K | 4.66% |
| SG Americas Securities, LLC | $5K | 4.39% |
| Jefferies LLC | $5K | 3.94% |
| J.P. Morgan Securities LLC | $3K | 2.73% |
| Citigroup Global Markets Inc. | $3K | 2.17% |
C000258265 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $53.2M | 100.00% |
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.