VHFIX Fees and Costs — Virtus Herzfeld Fund, Class I
Data updated: 2020-08-26
The net expense ratio is 2.72% (2.74% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $25K in broker commissions, 0.0449% of average net assets, and portfolio turnover was 61%.
VHFIX Fees and Expenses
Annual operating expenses and sales charges of VHFIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.37% |
| Gross expense ratio | 2.74% |
| Fee waiver | −0.02% |
| Net expense ratio | 2.72% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 |
VHFIX Costs Over Time
On $10,000 invested in VHFIX, assuming 5% a year before costs, total costs come to $1,669 over 5 years, cutting the return by 2.90% 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 2.72%) | $286 | $875 | $1,489 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $45 | $156 |
| Total costs | $290 | $934 | $1,669 |
| Value after costs | $10,210 | $10,642 | $11,093 |
| Impact on return, per year | 2.90% | 2.90% | 2.90% |
VHFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0449%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 61%
- Securities on loan, average value: $1.1M
- Net income from securities lending: $67K (0.122% of average net assets)
VHFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WallachBeth Capital LLC | $16K | 67.08% |
| JONESTRADING | $6K | 23.59% |
| BLOOMBERG TRADEBOOK LLC | $2K | 7.03% |
| CANTOR FITZGERALD & CO. | $351 | 1.43% |
| Charles Schwab & Co., Inc. | $213 | 0.87% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.