VIESX Fees and Costs — Virtus KAR Emerging Markets Small-Cap Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.45%: a 1.20% management fee plus 0.33% other expenses, less a 0.08% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $278K in broker commissions, 0.0929% of average net assets, and portfolio turnover was 34%.
VIESX Fees and Expenses
Annual operating expenses and sales charges of VIESX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.33% |
| Gross expense ratio | 1.53% |
| Fee waiver | −0.08% |
| Net expense ratio | 1.45% |
| 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 |
VIESX Costs Over Time
On $10,000 invested in VIESX, assuming 5% a year before costs, total costs come to $955 over 5 years, cutting the return by 1.62% 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 1.45%) | $152 | $472 | $814 |
| Trading costs (broker commissions) | $10 | $30 | $52 |
| Lost growth on money paid in costs | $0 | $25 | $88 |
| Total costs | $162 | $528 | $955 |
| Value after costs | $10,338 | $11,049 | $11,808 |
| Impact on return, per year | 1.62% | 1.62% | 1.62% |
VIESX 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): 0.0929%
- Total broker commissions: $278K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
VIESX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SANFORD C. BERNSTEIN & CO., LLC | $53K | 22.94% |
| MACQUARIE CAPITAL (USA), INC. | $42K | 18.11% |
| HSBC SECURITIES (USA) INC. | $40K | 17.59% |
| LIQUIDNET, INC. | $23K | 9.94% |
| JEFFERIES LLC | $23K | 9.91% |
| WOOD (ARTHUR W.) COMPANY, INC. | $14K | 5.96% |
| MORGAN STANLEY & CO. LLC | $11K | 4.62% |
| GOLDMAN SACHS & CO. LLC | $9K | 3.79% |
| KEPLER CAPITAL MARKETS, INC. | $8K | 3.65% |
| AUERBACH GRAYSON & COMPANY LLC | $8K | 3.50% |
Virtus KAR Emerging Markets Small-Cap Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VRESX | Class R6 | 1.30% | none |
| VIESX | Class I | 1.45% | none |
| VAESX | Class A | 1.70% | 5.50% |
| VCESX | Class C | 2.45% | 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.