HIEMX Fees and Costs — Virtus SGA Emerging Markets Equity Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.21%: a 1.00% management fee plus 0.32% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1.9M in broker commissions, 0.2358% of average net assets, and portfolio turnover was 23%.
HIEMX Fees and Expenses
Annual operating expenses and sales charges of HIEMX. Prospectus, as of January 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.11% |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
HIEMX Costs Over Time
On $10,000 invested in HIEMX, assuming 5% a year before costs, total costs come to $896 over 5 years, cutting the return by 1.52% 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 1.21%) | $127 | $395 | $681 |
| Trading costs (broker commissions) | $25 | $77 | $133 |
| Lost growth on money paid in costs | $0 | $23 | $83 |
| Total costs | $152 | $495 | $896 |
| Value after costs | $10,348 | $11,081 | $11,866 |
| Impact on return, per year | 1.52% | 1.52% | 1.52% |
HIEMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.2358%
- Total broker commissions: $1.9M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 23%
- Securities on loan, average value: $259K
- Net income from securities lending: $3K (0.000% of average net assets)
HIEMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MACQUARIE CAPITAL (USA), INC. | $416K | 28.24% |
| BOFA SECURITIES, INC. | $238K | 16.12% |
| Instinet LLC | $169K | 11.45% |
| MORGAN STANLEY & CO. LLC | $149K | 10.13% |
| JEFFERIES LLC | $144K | 9.74% |
| CitiGroup Global Markets Inc. | $101K | 6.84% |
| SANFORD C. BERNSTEIN & CO., LLC | $97K | 6.58% |
| JONESTRADING | $63K | 4.27% |
| J.P. Morgan Securities LLC | $50K | 3.39% |
| XP Investimentos Corretora De Cambio, Titulos E Valores Mobiliarios S/A | $48K | 3.24% |
Virtus SGA Emerging Markets Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VREMX | Class R6 | 0.98% | none |
| HIEMX | Class I | 1.21% | none |
| HEMZX | Class A | 1.46% | 5.50% |
| PICEX | Class C | 2.21% | 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.