SFRAX Fees and Costs — Virtus Seix Floating Rate High Income Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 0.95%: a 0.43% management fee, a 0.25% 12b-1 fee plus 0.30% other expenses, less a 0.03% fee waiver. This share class carries a maximum front-end sales load of 2.75%. Portfolio turnover was 63%.
SFRAX Fees and Expenses
Annual operating expenses and sales charges of SFRAX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 0.98% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.95% |
| Sales charges | |
|---|---|
| Max front load | 2.75% |
| 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 |
SFRAX Costs Over Time
On $10,000 invested in SFRAX, assuming 5% a year before costs, total costs come to $929 over 5 years, cutting the return by 1.58% 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 | $275 | $275 | $275 |
| Fund expenses (net expense ratio 0.95%) | $97 | $303 | $525 |
| Lost growth on money paid in costs | $14 | $58 | $129 |
| Total costs | $386 | $636 | $929 |
| Value after costs | $10,114 | $10,940 | $11,833 |
| Impact on return, per year | 3.86% | 1.96% | 1.58% |
SFRAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
SFRAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $243.5M | 23.13% |
| MORGAN STANLEY & CO. LLC | $182.7M | 17.36% |
| BOFA SECURITIES, INC. | $157.4M | 14.96% |
| GOLDMAN SACHS & CO. LLC | $119.7M | 11.37% |
| BARCLAYS CAPITAL, INC. | $91.8M | 8.72% |
| WELLS FARGO SECURITIES, LLC | $65.8M | 6.25% |
| CitiGroup Global Markets Inc. | $65.0M | 6.18% |
| JEFFERIES LLC | $60.7M | 5.77% |
| TD SECURITIES (USA) LLC | $35.4M | 3.36% |
| Santander US Capital Markets LLC | $30.5M | 2.90% |
Virtus Seix Floating Rate High Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SFRZX | Class R6 | 0.53% | none |
| SAMBX | Class I | 0.63% | none |
| SFRAX | Class A | 0.95% | 2.75% |
| SFRCX | Class C | 1.53% | 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.