VLSIX Fees and Costs — Virtus KAR Long/Short Equity Fund, Class I
Data updated: 2025-06-25
The net expense ratio is 2.03%: a 1.25% management fee plus 0.94% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $38K in broker commissions, 0.0561% of average net assets, and portfolio turnover was 31%.
VLSIX Fees and Expenses
Annual operating expenses and sales charges of VLSIX. Prospectus, as of October 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.94% |
| Gross expense ratio | 2.19% |
| Fee waiver | −0.16% |
| 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 |
VLSIX Costs Over Time
On $10,000 invested in VLSIX, assuming 5% a year before costs, total costs come to $1,277 over 5 years, cutting the return by 2.19% 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 | $658 | $1,127 |
| Trading costs (broker commissions) | $6 | $18 | $31 |
| Lost growth on money paid in costs | $0 | $34 | $118 |
| Total costs | $219 | $709 | $1,277 |
| Value after costs | $10,281 | $10,867 | $11,486 |
| Impact on return, per year | 2.19% | 2.19% | 2.19% |
VLSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0561%
- Total broker commissions: $38K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 31%
- Securities on loan, average value: $77K
- Net income from securities lending: $453 (0.001% of average net assets)
VLSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $25K | 65.30% |
| SANFORD C. BERNSTEIN & CO., LLC | $7K | 18.80% |
| JEFFERIES LLC | $3K | 8.53% |
| KEEFE, BRUYETTE & WOODS, INC. | $1K | 3.82% |
| LIQUIDNET, INC. | $888 | 2.34% |
| Raymond James & Associates, Inc. | $343 | 0.90% |
| BOFA SECURITIES, INC. | $89 | 0.23% |
| GOLDMAN SACHS & CO. LLC | $20 | 0.05% |
| J.P. MORGAN SECURITIES LLC | $8 | 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.