VCBCX Fees and Costs — Systematic Growth Fund
Data updated: 2026-09-28
The net expense ratio is 0.64%: a 0.72% management fee plus 0.10% other expenses, less a 0.18% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $42K in broker commissions, 0.0040% of average net assets, and portfolio turnover was 41%.
VCBCX Fees and Expenses
Annual operating expenses and sales charges of VCBCX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.72% |
| 12b-1 fee | — |
| Other expenses | 0.10% |
| Gross expense ratio | 0.82% |
| Fee waiver | −0.18% |
| Net expense ratio | 0.64% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VCBCX Costs Over Time
On $10,000 invested in VCBCX, assuming 5% a year before costs, total costs come to $406 over 5 years, cutting the return by 0.68% 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 0.64%) | $67 | $210 | $366 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $68 | $222 | $406 |
| Value after costs | $10,432 | $11,354 | $12,357 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
VCBCX 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): 0.0040%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $7
- Portfolio turnover (prospectus): 41%
- Securities on loan, average value: $7.5M
- Net income from securities lending: $18K (0.002% of average net assets)
VCBCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $10K | 25.93% |
| Nomura Securities International, Inc. | $5K | 13.47% |
| J.P. Morgan Securities LLC | $5K | 13.08% |
| Barclays Capital Inc. | $5K | 12.18% |
| Jefferies LLC | $4K | 10.09% |
| Goldman Sachs & Co. LLC | $4K | 9.39% |
| BofA Securities, Inc. | $2K | 5.73% |
| UBS Securities LLC | $1K | 3.51% |
| Penserra Securities LLC | $1K | 3.41% |
| Cabrera Capital Markets LLC | $1K | 3.21% |
VCBCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $7 | 100.00% |
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.