SISSX Fees and Costs — Virtus Seix Ultra-Short Bond Fund, Class I
Data updated: 2024-03-14
The net expense ratio is 0.40%: a 0.22% management fee plus 0.42% other expenses, less a 0.24% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $199 in broker commissions, 0.0008% of average net assets, and portfolio turnover was 60%.
SISSX Fees and Expenses
Annual operating expenses and sales charges of SISSX. Prospectus, as of December 31, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.22% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.64% |
| Fee waiver | −0.24% |
| Net expense ratio | 0.40% |
| 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 |
SISSX Costs Over Time
On $10,000 invested in SISSX, assuming 5% a year before costs, total costs come to $254 over 5 years, cutting the return by 0.42% 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 0.40%) | $42 | $132 | $230 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $7 | $23 |
| Total costs | $42 | $139 | $254 |
| Value after costs | $10,458 | $11,438 | $12,509 |
| Impact on return, per year | 0.42% | 0.42% | 0.42% |
SISSX 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): 0.0008%
- Total broker commissions: $199
- Bought from dealers (principal trades, not a cost): $102.3M
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $55K
- Net income from securities lending: $473 (0.002% of average net assets)
SISSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $199 | 100.00% |
SISSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $26.0M | 29.68% |
| RBC CAPITAL MARKETS LLC | $16.7M | 19.15% |
| MUFG SECURITIES AMERICAS INC. | $11.6M | 13.29% |
| Mizuho Securities USA LLC | $10.7M | 12.23% |
| BOFA SECURITIES, INC. | $8.1M | 9.22% |
| WELLS FARGO SECURITIES, LLC | $3.7M | 4.28% |
| CitiGroup Global Markets Inc. | $3.3M | 3.79% |
| GOLDMAN SACHS & CO. LLC | $2.8M | 3.18% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $2.4M | 2.80% |
| BARCLAYS CAPITAL, INC. | $2.1M | 2.39% |
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.