VCGEX Fees and Costs — Emerging Economies Fund
Data updated: 2026-09-28
The net expense ratio is 0.99%: a 0.75% management fee plus 0.24% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.1M in broker commissions, 0.1284% of average net assets, and portfolio turnover was 127%.
VCGEX Fees and Expenses
Annual operating expenses and sales charges of VCGEX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.24% |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VCGEX Costs Over Time
On $10,000 invested in VCGEX, assuming 5% a year before costs, total costs come to $698 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 | $42 | $73 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $117 | $384 | $698 |
| Value after costs | $10,383 | $11,192 | $12,065 |
| Impact on return, per year | 1.17% | 1.17% | 1.17% |
VCGEX 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): 0.1284%
- Total broker commissions: $1.1M
- Bought from dealers (principal trades, not a cost): $765.2M
- Portfolio turnover (prospectus): 127%
- Securities on loan, average value: $18.0M
- Net income from securities lending: $233K (0.027% of average net assets)
VCGEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $210K | 22.18% |
| Morgan Stanley & Co. LLC | $149K | 15.72% |
| Citigroup Global Markets Inc. | $99K | 10.40% |
| BofA Securities, Inc. | $92K | 9.73% |
| Goldman Sachs & Co. LLC | $88K | 9.31% |
| UBS Securities LLC | $85K | 9.02% |
| Macquarie Capital (USA) Inc. | $72K | 7.56% |
| HSBC Securities (USA) Inc. | $64K | 6.73% |
| Jefferies LLC | $48K | 5.06% |
| BNP Paribas Securities Corp. | $41K | 4.30% |
VCGEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $765.2M | 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.