VLAAX Fees and Costs — Value Line Asset Allocation Fund INC, Investor Class
Data updated: 2026-09-25
The net expense ratio is 1.10%: a 0.64% management fee, a 0.25% 12b-1 fee plus 0.21% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $53K in broker commissions, 0.0066% of average net assets, and portfolio turnover was 14%.
VLAAX Fees and Expenses
Annual operating expenses and sales charges of VLAAX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.10% |
| Fee waiver | — |
| Net expense ratio | 1.10% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
VLAAX Costs Over Time
On $10,000 invested in VLAAX, assuming 5% a year before costs, total costs come to $691 over 5 years, cutting the return by 1.16% 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 1.10%) | $116 | $360 | $624 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $380 | $691 |
| Value after costs | $10,384 | $11,196 | $12,072 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
VLAAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0066%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): $614.6M
- Portfolio turnover (prospectus): 14%
- Securities on loan, average value: $21.5M
- Net income from securities lending: $30K (0.004% of average net assets)
VLAAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| State Street Global Markets, LLC | $48K | 90.70% |
| BNY Capital Markets, LLC | $2K | 4.30% |
| Goldman Sachs & Co. LLC | $1K | 2.53% |
| Nomura Securities International, Inc. | $1K | 2.01% |
| BofA Securities, Inc. | $248 | 0.46% |
VLAAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $447.3M | 72.79% |
| Morgan Stanley & Co. LLC | $48.2M | 7.84% |
| MarketAxess Corporation | $40.1M | 6.53% |
| Jefferies LLC | $34.8M | 5.66% |
| Goldman Sachs & Co. LLC | $17.5M | 2.84% |
| Wells Fargo Securities, LLC | $10.1M | 1.64% |
| BNY Capital Markets, LLC | $5.8M | 0.94% |
| State Street Global Markets, LLC | $5.7M | 0.92% |
| Stifel, Nicolaus & Company, Incorporated | $4.1M | 0.66% |
| FHN Financial Securities Corp. | $1.2M | 0.19% |
Value Line Asset Allocation Fund INC Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VLAIX | Institutional Class | 0.83% | — |
| VLAAX | Investor Class | 1.10% | — |
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.