SAINX Fees and Costs — Virtus Seix Corporate Bond Fund, Class A
Data updated: 2024-11-22
The net expense ratio is 0.95%: a 0.40% management fee, a 0.25% 12b-1 fee plus 0.49% other expenses, less a 0.19% fee waiver. This share class carries a maximum front-end sales load of 3.75%. Portfolio turnover was 118%.
SAINX Fees and Expenses
Annual operating expenses and sales charges of SAINX. Prospectus, as of December 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.49% |
| Gross expense ratio | 1.14% |
| Fee waiver | −0.19% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| 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 |
SAINX Costs Over Time
On $10,000 invested in SAINX, assuming 5% a year before costs, total costs come to $1,051 over 5 years, cutting the return by 1.79% 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 | $375 | $375 | $375 |
| Fund expenses (net expense ratio 0.95%) | $96 | $300 | $520 |
| Lost growth on money paid in costs | $19 | $74 | $156 |
| Total costs | $490 | $749 | $1,051 |
| Value after costs | $10,010 | $10,828 | $11,712 |
| Impact on return, per year | 4.90% | 2.31% | 1.79% |
SAINX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $106.4M
- Portfolio turnover (prospectus): 118%
- Securities on loan, average value: $70K
- Net income from securities lending: $962 (0.002% of average net assets)
SAINX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $15.5M | 18.02% |
| BOFA SECURITIES, INC. | $14.4M | 16.75% |
| CitiGroup Global Markets Inc. | $13.6M | 15.78% |
| CITADEL SECURITIES LLC | $10.2M | 11.86% |
| BARCLAYS CAPITAL, INC. | $8.0M | 9.36% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $6.7M | 7.78% |
| GOLDMAN SACHS & CO. LLC | $4.9M | 5.67% |
| DEUTSCHE BANK SECURITIES, INC. | $4.8M | 5.54% |
| MORGAN STANLEY & CO. LLC | $4.7M | 5.43% |
| WELLS FARGO SECURITIES, LLC | $3.3M | 3.81% |
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.