SMVTX Fees and Costs — Virtus Ceredex Mid-Cap Value Equity Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 0.99%: a 0.70% management fee plus 0.31% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.6M in broker commissions, 0.1197% of average net assets, and portfolio turnover was 192%.
SMVTX Fees and Expenses
Annual operating expenses and sales charges of SMVTX. Prospectus, as of January 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.99% |
| 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 |
SMVTX Costs Over Time
On $10,000 invested in SMVTX, assuming 5% a year before costs, total costs come to $693 over 5 years, cutting the return by 1.17% 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 0.99%) | $104 | $324 | $561 |
| Trading costs (broker commissions) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $381 | $693 |
| Value after costs | $10,383 | $11,195 | $12,070 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
SMVTX 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): 0.1197%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $1.5M
- Portfolio turnover (prospectus): 192%
- Securities on loan, average value: $1.0M
- Net income from securities lending: $7K (0.001% of average net assets)
SMVTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $146K | 13.80% |
| LUMINEX TRADING & ANALYTICS LLC | $140K | 13.18% |
| EVERCORE GROUP L.L.C. | $131K | 12.40% |
| MORGAN STANLEY & CO. LLC | $126K | 11.87% |
| BOFA SECURITIES, INC. | $109K | 10.25% |
| KEYBANC CAPITAL MARKETS, INC. | $98K | 9.25% |
| SANFORD C. BERNSTEIN & CO., LLC | $91K | 8.57% |
| RBC CAPITAL MARKETS, LLC | $79K | 7.47% |
| J.P. Morgan Securities LLC | $75K | 7.08% |
| GOLDMAN SACHS & CO. LLC | $65K | 6.13% |
SMVTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $1.4M | 97.81% |
| BOFA SECURITIES, INC. | $32K | 2.19% |
Virtus Ceredex Mid-Cap Value Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| SMVZX | Class R6 | 0.79% | none |
| SMVTX | Class I | 0.99% | none |
| SAMVX | Class A | 1.29% | 5.50% |
| SMVFX | Class C | 1.76% | 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.