VCULX Fees and Costs — Growth Fund
Data updated: 2026-09-28
The net expense ratio is 0.61%: a 0.67% management fee plus 0.10% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $432K in broker commissions, 0.0243% of average net assets, and portfolio turnover was 88%.
VCULX Fees and Expenses
Annual operating expenses and sales charges of VCULX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.67% |
| 12b-1 fee | — |
| Other expenses | 0.10% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.61% |
| 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 |
VCULX Costs Over Time
On $10,000 invested in VCULX, assuming 5% a year before costs, total costs come to $400 over 5 years, cutting the return by 0.67% 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 0.61%) | $64 | $201 | $349 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $10 | $37 |
| Total costs | $67 | $219 | $400 |
| Value after costs | $10,433 | $11,357 | $12,363 |
| Impact on return, per year | 0.67% | 0.67% | 0.67% |
VCULX 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): 0.0243%
- Total broker commissions: $432K
- Bought from dealers (principal trades, not a cost): $1.2B
- Portfolio turnover (prospectus): 88%
- Securities on loan, average value: $4.5M
- Net income from securities lending: $9K (0.001% of average net assets)
VCULX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $116K | 27.62% |
| Morgan Stanley & Co. LLC | $85K | 20.30% |
| Goldman Sachs & Co. LLC | $65K | 15.47% |
| J.P. Morgan Securities LLC | $62K | 14.89% |
| UBS Securities LLC | $27K | 6.47% |
| Barclays Capital Inc. | $21K | 5.02% |
| Jefferies LLC | $15K | 3.65% |
| TD Securities (USA) LLC | $12K | 2.78% |
| BNP Paribas Securities Corp. | $8K | 1.91% |
| OPPENHEIMER & CO. INC. | $8K | 1.90% |
VCULX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $1.2B | 100.00% |
| UBS Securities LLC | $5K | 0.00% |
| BNP Paribas Securities Corp. | $4K | 0.00% |
| Citigroup Global Markets Inc. | $4K | 0.00% |
| BofA Securities, Inc. | $3K | 0.00% |
| J.P. Morgan Securities LLC | $2K | 0.00% |
| Barclays Capital Inc. | $932 | 0.00% |
| Goldman Sachs & Co. LLC | $540 | 0.00% |
| Morgan Stanley & Co. LLC | $164 | 0.00% |
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.