MAEMX Fees and Costs — Victory Trivalent Emerging Markets Small-Cap Fund, Class A
Data updated: 2021-05-26
The net expense ratio is 1.74%: a 1.10% management fee, a 0.25% 12b-1 fee plus 1.83% other expenses, less a 1.45% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2020 the fund paid $15K in broker commissions, 0.1791% of average net assets, and portfolio turnover was 64%.
MAEMX Fees and Expenses
Annual operating expenses and sales charges of MAEMX. Prospectus, as of October 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.83% |
| Gross expense ratio | 3.19% |
| Fee waiver | −1.45% |
| Net expense ratio | 1.74% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
MAEMX Costs Over Time
On $10,000 invested in MAEMX, assuming 5% a year before costs, total costs come to $1,845 over 5 years, cutting the return by 3.23% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.74%) | $172 | $532 | $914 |
| Trading costs (broker commissions) | $18 | $55 | $94 |
| Lost growth on money paid in costs | $29 | $120 | $262 |
| Total costs | $794 | $1,282 | $1,845 |
| Value after costs | $9,706 | $10,294 | $10,918 |
| Impact on return, per year | 7.94% | 4.03% | 3.23% |
MAEMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1791%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 64%
- Securities on loan, average value: $108K
- Net income from securities lending: $2K (0.024% of average net assets)
MAEMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| HSBC SECURITIES (USA) INC | $4K | 26.83% |
| MACQUARIE CAPITAL (USA) INC. | $2K | 17.07% |
| CLSA AMERICAS, LLC | $2K | 15.85% |
| J.P. MORGAN SECURITIES LLC | $1K | 9.41% |
| BARCLAYS CAPITAL INC. | $957 | 7.18% |
| CITIGROUP GLOBAL MARKETS INC. | $881 | 6.61% |
| JEFFERIES LLC | $852 | 6.39% |
| BRASIL PLURAL SECURITIES LLC | $583 | 4.37% |
| DAIWA CAPITAL MARKETS AMERICA INC. | $439 | 3.29% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $402 | 3.01% |
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.