VMACX Fees and Costs — Virtus KAR Mid-Cap Core Fund, Class A
Data updated: 2026-08-28
The net expense ratio is 1.20%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.27% other expenses, less a 0.07% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2024 the fund paid $385K in broker commissions, 0.0157% of average net assets, and portfolio turnover was 16%.
VMACX Fees and Expenses
Annual operating expenses and sales charges of VMACX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.27% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.07% |
| Net expense ratio | 1.20% |
| Sales charges | |
|---|---|
| Max front load | 5.50% |
| 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 |
VMACX Costs Over Time
On $10,000 invested in VMACX, assuming 5% a year before costs, total costs come to $1,417 over 5 years, cutting the return by 2.44% 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 |
| Sales charges | $550 | $550 | $550 |
| Fund expenses (net expense ratio 1.20%) | $119 | $371 | $641 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $28 | $105 | $218 |
| Total costs | $698 | $1,031 | $1,417 |
| Value after costs | $9,802 | $10,545 | $11,345 |
| Impact on return, per year | 6.98% | 3.21% | 2.44% |
VMACX 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): 0.0157%
- Total broker commissions: $385K
- Bought from dealers (principal trades, not a cost): $13.5M
- Portfolio turnover (prospectus): 16%
- Securities lending: none during the year
VMACX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SANFORD C. BERNSTEIN & CO., LLC | $121K | 34.96% |
| Raymond James & Associates, Inc. | $45K | 12.99% |
| JEFFERIES LLC | $40K | 11.67% |
| LIQUIDNET, INC. | $39K | 11.14% |
| J.P. Morgan Securities LLC | $21K | 5.96% |
| Robert W. Baird & Co. Incorporated | $19K | 5.37% |
| BARCLAYS CAPITAL, INC. | $16K | 4.75% |
| Stephens, Inc. | $16K | 4.70% |
| GOLDMAN SACHS & CO. LLC | $15K | 4.46% |
| WILLIAM BLAIR | $14K | 4.01% |
VMACX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $13.5M | 100.00% |
Virtus KAR Mid-Cap Core Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VRMCX | Class R6 | 0.87% | none |
| VIMCX | Class I | 0.95% | none |
| VMACX | Class A | 1.20% | 5.50% |
| VMCCX | Class C | 1.95% | 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.