PHRCX Fees and Costs — Virtus Duff & Phelps Real Estate Securities Fund, Class C
Data updated: 2026-08-28
The net expense ratio is 1.99%: a 0.75% management fee, a 1.00% 12b-1 fee plus 0.32% other expenses, less a 0.08% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2024 the fund paid $92K in broker commissions, 0.0252% of average net assets, and portfolio turnover was 17%.
PHRCX Fees and Expenses
Annual operating expenses and sales charges of PHRCX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 2.07% |
| Fee waiver | −0.08% |
| Net expense ratio | 1.99% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PHRCX Costs Over Time
On $10,000 invested in PHRCX, assuming 5% a year before costs, total costs come to $1,235 over 5 years, cutting the return by 2.12% 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 | $103 | $0 | $0 |
| Fund expenses (net expense ratio 1.99%) | $209 | $645 | $1,107 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $33 | $114 |
| Total costs | $314 | $686 | $1,235 |
| Value after costs | $10,186 | $10,890 | $11,528 |
| Impact on return, per year | 3.14% | 2.12% | 2.12% |
PHRCX 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): 0.0252%
- Total broker commissions: $92K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
PHRCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $21K | 22.61% |
| EVERCORE GROUP L.L.C. | $16K | 17.01% |
| WELLS FARGO SECURITIES, LLC | $14K | 15.48% |
| SMBC NIKKO SECURITIES AMERICA, INC. | $11K | 12.02% |
| MORGAN STANLEY & CO. LLC | $9K | 9.40% |
| BOFA SECURITIES, INC. | $9K | 9.35% |
| CITIGROUP GLOBAL MARKETS INC. | $8K | 8.61% |
| RBC CAPITAL MARKETS, LLC | $4K | 4.34% |
| UBS Securities LLC | $696 | 0.76% |
| JEFFERIES LLC | $405 | 0.44% |
Virtus Duff & Phelps Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VRREX | Class R6 | 0.79% | none |
| PHRIX | Class I | 0.99% | none |
| PHRAX | Class A | 1.24% | 5.50% |
| PHRCX | Class C | 1.99% | 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.