SHLMX Fees and Costs — Virtus Stone Harbor Local Markets Fund, Class I
Data updated: 2026-09-23
The net expense ratio is 1.00%: a 0.75% management fee plus 0.81% other expenses, less a 0.56% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 150%.
SHLMX Fees and Expenses
Annual operating expenses and sales charges of SHLMX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.81% |
| Gross expense ratio | 1.56% |
| Fee waiver | −0.56% |
| Net expense ratio | 1.00% |
| 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 |
SHLMX Costs Over Time
On $10,000 invested in SHLMX, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 1.00%) | $105 | $328 | $568 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
SHLMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $55.3M
- Portfolio turnover (prospectus): 150%
- Securities lending: none during the year
SHLMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $8.3M | 17.19% |
| BOFA SECURITIES, INC. | $7.7M | 15.81% |
| CitiGroup Global Markets Inc. | $7.5M | 15.41% |
| J.P. Morgan Securities LLC | $6.5M | 13.35% |
| BNP PARIBAS SECURITIES CORP. | $4.1M | 8.41% |
| HSBC SECURITIES (USA), INC. | $3.4M | 7.03% |
| STANDARD CHARTERED SECURITIES NORTH AMERICA LLC | $3.3M | 6.90% |
| DEUTSCHE BANK SECURITIES, INC. | $3.0M | 6.21% |
| SG AMERICAS SECURITIES, LLC | $2.9M | 6.06% |
| SCOTIA CAPITAL (USA), INC. | $1.8M | 3.63% |
Virtus Stone Harbor Local Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SHLMX | Class I | 1.00% | none |
| VSHEX | Class A | 1.25% | 3.75% |
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.