CVAPX Fees and Costs — ClearBridge Variable Appreciation Portfolio, Class II
Data updated: 2026-05-28
The net expense ratio is 0.95%: a 0.68% management fee, a 0.25% 12b-1 fee plus 0.02% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $54K in broker commissions, 0.0047% of average net assets, and portfolio turnover was 17%.
CVAPX Fees and Expenses
Annual operating expenses and sales charges of CVAPX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.95% |
| Fee waiver | — |
| Net expense ratio | 0.95% |
| 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 |
CVAPX Costs Over Time
On $10,000 invested in CVAPX, assuming 5% a year before costs, total costs come to $598 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 0.95%) | $100 | $311 | $540 |
| Trading costs (broker commissions) | $0 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $15 | $55 |
| Total costs | $100 | $328 | $598 |
| Value after costs | $10,400 | $11,248 | $12,165 |
| Impact on return, per year | 1.00% | 1.00% | 1.00% |
CVAPX 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): 0.0047%
- Total broker commissions: $54K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
CVAPX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $23K | 43.29% |
| MORGAN STANLEY & CO. LLC | $15K | 29.30% |
| J.P. MORGAN SECURITIES LLC | $7K | 13.54% |
| Raymond James & Associates, Inc. | $1K | 2.77% |
| GOLDMAN SACHS & CO. LLC | $1K | 2.49% |
| CAPITAL INSTITUTIONAL SERVICES, INC | $1K | 2.49% |
| BERNSTEIN INSTITUTIONAL SERVICES LLC | $1K | 2.26% |
| Stifel, Nicolaus & Co., Inc. | $787 | 1.49% |
| TD SECURITIES (USA) LLC | $703 | 1.33% |
| JEFFERIES LLC | $548 | 1.04% |
ClearBridge Variable Appreciation Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| QLMAOX | Class I | 0.70% | — |
| CVAPX | Class II | 0.95% | — |
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.