VMAFX Fees and Costs — Virtus Newfleet Floating Rate MACS
Data updated: 2026-09-11
The net expense ratio is 0.00% (0.63% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $75 in broker commissions, 0.0005% of average net assets, and portfolio turnover was 37%.
VMAFX Fees and Expenses
Annual operating expenses and sales charges of VMAFX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | — |
| Other expenses | 0.63% |
| Gross expense ratio | 0.63% |
| Fee waiver | −0.63% |
| Net expense ratio | 0.00% |
| 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 | No |
VMAFX Costs Over Time
On $10,000 invested in VMAFX, assuming 5% a year before costs, total costs come to $0 over 5 years, cutting the return by 0.00% 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 0.00%) | $0 | $0 | $0 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $0 | $0 |
| Total costs | $0 | $0 | $0 |
| Value after costs | $10,500 | $11,576 | $12,762 |
| Impact on return, per year | 0.00% | 0.00% | 0.00% |
VMAFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0005%
- Total broker commissions: $75
- Bought from dealers (principal trades, not a cost): $10.1M
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
VMAFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JANE STREET EXECUTION SERVICES, LLC | $75 | 100.00% |
| BARCLAYS CAPITAL, INC. | $0 | 0.00% |
| VIRTU AMERICAS LLC | $0 | 0.00% |
VMAFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.7M | 29.62% |
| BOFA SECURITIES, INC. | $1.5M | 16.45% |
| MORGAN STANLEY & CO. LLC | $852K | 9.51% |
| GOLDMAN SACHS & CO. LLC | $801K | 8.94% |
| CitiGroup Global Markets Inc. | $796K | 8.89% |
| DEUTSCHE BANK SECURITIES, INC. | $628K | 7.01% |
| WELLS FARGO SECURITIES, LLC | $502K | 5.60% |
| JEFFERIES LLC | $487K | 5.44% |
| BARCLAYS CAPITAL, INC. | $385K | 4.30% |
| UBS SECURITIES LLC | $379K | 4.24% |
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.