VICEX Fees and Costs — USA Mutuals Vice Fund, Investor Class
Data updated: 2026-08-26
The net expense ratio is 2.03%: a 0.95% management fee, a 0.25% 12b-1 fee plus 0.83% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $55K in broker commissions, 0.1017% of average net assets, and portfolio turnover was 17%.
VICEX Fees and Expenses
Annual operating expenses and sales charges of VICEX. Prospectus, as of July 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.83% |
| Gross expense ratio | 2.03% |
| Fee waiver | — |
| Net expense ratio | 2.03% |
| 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 |
VICEX Costs Over Time
On $10,000 invested in VICEX, assuming 5% a year before costs, total costs come to $1,304 over 5 years, cutting the return by 2.24% 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 2.03%) | $213 | $657 | $1,126 |
| Trading costs (broker commissions) | $11 | $33 | $56 |
| Lost growth on money paid in costs | $0 | $34 | $121 |
| Total costs | $224 | $725 | $1,304 |
| Value after costs | $10,276 | $10,852 | $11,459 |
| Impact on return, per year | 2.24% | 2.24% | 2.24% |
VICEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1017%
- Total broker commissions: $55K
- Bought from dealers (principal trades, not a cost): $107K
- Portfolio turnover (prospectus): 17%
- Securities on loan, average value: $3.0M
- Net income from securities lending: $24K (0.044% of average net assets)
VICEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley Smith Barney | $55K | 100.00% |
VICEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ADM Investor Securities | $107K | 100.00% |
USA Mutuals Vice Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VICVX | Institutional Class | 1.78% | none |
| VICAX | Class A | 2.03% | 5.75% |
| VICEX | Investor Class | 2.03% | none |
| VICCX | Class C | 2.78% | 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.