VDAFX Fees and Costs — Dynamic Allocation Fund
Data updated: 2026-09-28
The net expense ratio is 0.75% (0.80% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0018% of average net assets, and portfolio turnover was 58%.
VDAFX Fees and Expenses
Annual operating expenses and sales charges of VDAFX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | — |
| Other expenses | 0.15% |
| Gross expense ratio | 0.80% |
| Fee waiver | −0.05% |
| Net expense ratio | 0.75% |
| 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 | Yes |
VDAFX Costs Over Time
On $10,000 invested in VDAFX, assuming 5% a year before costs, total costs come to $473 over 5 years, cutting the return by 0.79% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $12 | $43 |
| Total costs | $79 | $259 | $473 |
| Value after costs | $10,421 | $11,317 | $12,290 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
VDAFX 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): 0.0018%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $76.3M
- Portfolio turnover (prospectus): 58%
- Securities lending: none during the year
VDAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $1K | 61.46% |
| J.P. Morgan Securities LLC | $897 | 38.54% |
VDAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $32.5M | 45.32% |
| Goldman Sachs & Co. LLC | $7.3M | 10.17% |
| Morgan Stanley & Co. LLC | $6.2M | 8.67% |
| J.P. Morgan Securities LLC | $5.6M | 7.83% |
| BofA Securities, Inc. | $4.8M | 6.74% |
| Jefferies LLC | $3.3M | 4.62% |
| BNP Paribas Securities Corp. | $3.1M | 4.30% |
| Citigroup Global Markets Inc. | $3.0M | 4.19% |
| Deutsche Bank Securities Inc. | $3.0M | 4.14% |
| Barclays Capital Inc. | $2.9M | 4.01% |
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.