PXRIX Fees and Costs — Virtus Duff & Phelps International Real Estate Securities Fund, Class I
Data updated: 2023-12-13
The net expense ratio is 1.25%: a 1.00% management fee plus 0.49% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $19K in broker commissions, 0.0735% of average net assets, and portfolio turnover was 24%.
PXRIX Fees and Expenses
Annual operating expenses and sales charges of PXRIX. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.49% |
| Gross expense ratio | 1.49% |
| Fee waiver | −0.24% |
| Net expense ratio | 1.25% |
| 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 |
PXRIX Costs Over Time
On $10,000 invested in PXRIX, assuming 5% a year before costs, total costs come to $823 over 5 years, cutting the return by 1.39% 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 1.25%) | $131 | $408 | $705 |
| Trading costs (broker commissions) | $8 | $24 | $41 |
| Lost growth on money paid in costs | $0 | $21 | $76 |
| Total costs | $139 | $454 | $823 |
| Value after costs | $10,361 | $11,123 | $11,940 |
| Impact on return, per year | 1.39% | 1.39% | 1.39% |
PXRIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0735%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $147K
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
PXRIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $7K | 36.57% |
| Kempen & Co U.S.A., INC. | $6K | 32.93% |
| RBC CAPITAL MARKETS, LLC | $2K | 12.96% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 11.94% |
| SMBC NIKKO SECURITIES AMERICA, INC. | $605 | 3.21% |
| MORGAN STANLEY & CO. LLC | $454 | 2.41% |
PXRIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $74K | 50.10% |
| J.P. Morgan Securities LLC | $74K | 49.90% |
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.