VLCCX Fees and Costs — Large Cap Core Fund
Data updated: 2026-09-28
The net expense ratio is 0.68%: a 0.64% management fee plus 0.13% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $64K in broker commissions, 0.0367% of average net assets, and portfolio turnover was 112%.
VLCCX Fees and Expenses
Annual operating expenses and sales charges of VLCCX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | — |
| Other expenses | 0.13% |
| Gross expense ratio | 0.77% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.68% |
| 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 |
VLCCX Costs Over Time
On $10,000 invested in VLCCX, assuming 5% a year before costs, total costs come to $451 over 5 years, cutting the return by 0.75% 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 0.68%) | $71 | $223 | $389 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $247 | $451 |
| Value after costs | $10,425 | $11,329 | $12,312 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
VLCCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0367%
- Total broker commissions: $64K
- Bought from dealers (principal trades, not a cost): $775.8M
- Portfolio turnover (prospectus): 112%
- Securities on loan, average value: $308K
- Net income from securities lending: $470 (0.000% of average net assets)
VLCCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler & Co. | $13K | 22.30% |
| Virtu Itg LLC | $11K | 18.92% |
| RBC Capital Markets, LLC | $11K | 17.97% |
| J.P. Morgan Securities LLC | $8K | 13.29% |
| Credit Suisse Securities (USA) LLC | $5K | 7.91% |
| Morgan Stanley & Co. LLC | $4K | 6.17% |
| Bofa Securities, Inc. | $4K | 6.08% |
| BMO Capital Markets Corp. | $2K | 4.16% |
| Barclays Capital Inc. | $1K | 1.73% |
| Jefferies LLC | $872 | 1.48% |
VLCCX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $774.9M | 99.89% |
| Morgan Stanley & Co. LLC | $500K | 0.06% |
| Goldman Sachs & Co. LLC | $225K | 0.03% |
| J.P. Morgan Securities LLC | $140K | 0.02% |
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.