VDMAX Fees and Costs — Virtus KAR Developing Markets Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.33%: a 1.00% management fee, a 0.25% 12b-1 fee plus 3.26% other expenses, less a 3.18% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2024 the fund paid $2K in broker commissions, 0.0647% of average net assets, and portfolio turnover was 33%.
VDMAX Fees and Expenses
Annual operating expenses and sales charges of VDMAX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.26% |
| Gross expense ratio | 4.51% |
| Fee waiver | −3.18% |
| Net expense ratio | 1.33% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
VDMAX Costs Over Time
On $10,000 invested in VDMAX, assuming 5% a year before costs, total costs come to $1,520 over 5 years, cutting the return by 2.63% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.33%) | $132 | $410 | $708 |
| Trading costs (broker commissions) | $6 | $20 | $34 |
| Lost growth on money paid in costs | $27 | $108 | $227 |
| Total costs | $716 | $1,088 | $1,520 |
| Value after costs | $9,784 | $10,488 | $11,243 |
| Impact on return, per year | 7.16% | 3.40% | 2.63% |
VDMAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0647%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $1
- Portfolio turnover (prospectus): 33%
- Securities lending: none during the year
VDMAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SANFORD C. BERNSTEIN & CO., LLC | $561 | 32.86% |
| HSBC SECURITIES (USA) INC. | $272 | 15.93% |
| MACQUARIE CAPITAL (USA), INC. | $199 | 11.66% |
| LIQUIDNET, INC. | $144 | 8.44% |
| ITAU BBA USA SECURITIES, INC. | $124 | 7.26% |
| KEPLER CAPITAL MARKETS, INC. | $109 | 6.39% |
| JEFFERIES LLC | $109 | 6.39% |
| INSTINET, LLC | $76 | 4.45% |
| KOREA INVESTMENT & SECURITIES AMERICA, INC. | $67 | 3.93% |
| CLSA Americas, LLC | $46 | 2.69% |
VDMAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| SANFORD C. BERNSTEIN & CO., LLC | $1 | 100.00% |
Virtus KAR Developing Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VDMRX | Class R6 | 1.03% | none |
| VIDMX | Class I | 1.08% | none |
| VDMAX | Class A | 1.33% | 5.50% |
| VDMCX | Class C | 2.08% | 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.