VGREX Fees and Costs — Global Real Estate Fund
Data updated: 2026-09-28
The net expense ratio is 0.88%: a 0.75% management fee plus 0.17% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $85K in broker commissions, 0.0306% of average net assets, and portfolio turnover was 26%.
VGREX Fees and Expenses
Annual operating expenses and sales charges of VGREX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.17% |
| Gross expense ratio | 0.92% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.88% |
| 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 |
VGREX Costs Over Time
On $10,000 invested in VGREX, assuming 5% a year before costs, total costs come to $571 over 5 years, cutting the return by 0.96% 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 0.88%) | $92 | $289 | $501 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $96 | $313 | $571 |
| Value after costs | $10,404 | $11,263 | $12,192 |
| Impact on return, per year | 0.96% | 0.96% | 0.96% |
VGREX 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): 0.0306%
- Total broker commissions: $85K
- Bought from dealers (principal trades, not a cost): $668.9M
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $11.9M
- Net income from securities lending: $25K (0.009% of average net assets)
VGREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $19K | 26.12% |
| Morgan Stanley & Co. LLC | $12K | 15.74% |
| J.P. Morgan Securities LLC | $10K | 12.97% |
| Goldman Sachs & Co. LLC | $9K | 11.67% |
| Jefferies LLC | $7K | 9.03% |
| Van Lanschot Kempen (USA) Inc. | $6K | 8.55% |
| RBC Capital Markets, LLC | $4K | 5.21% |
| Citigroup Global Markets Inc. | $3K | 4.50% |
| DBS Bank Ltd. | $2K | 3.10% |
| BNP Paribas Securities Corp. | $2K | 3.10% |
VGREX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $620.4M | 92.75% |
| J.P. Morgan Securities LLC | $43.4M | 6.49% |
| BofA Securities, Inc. | $2.4M | 0.36% |
| Goldman Sachs & Co. LLC | $1.3M | 0.19% |
| Wells Fargo Securities, LLC | $1.2M | 0.18% |
| SMBC Nikko Securities America, Inc. | $197K | 0.03% |
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.