VNLAX Fees and Costs — Virtus SGA New Leaders Growth Fund, Class A
Data updated: 2024-02-29
The net expense ratio is 1.34%: a 0.80% management fee, a 0.25% 12b-1 fee plus 1.38% other expenses, less a 1.09% fee waiver. This share class carries a maximum front-end sales load of 5.50%. In fiscal 2023 the fund paid $3K in broker commissions, 0.0398% of average net assets, and portfolio turnover was 30%.
VNLAX Fees and Expenses
Annual operating expenses and sales charges of VNLAX. Prospectus, as of September 30, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 1.38% |
| Gross expense ratio | 2.43% |
| Fee waiver | −1.09% |
| Net expense ratio | 1.34% |
| 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 |
VNLAX Costs Over Time
On $10,000 invested in VNLAX, assuming 5% a year before costs, total costs come to $1,511 over 5 years, cutting the return by 2.61% 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 1.34%) | $133 | $413 | $714 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $27 | $108 | $226 |
| Total costs | $714 | $1,083 | $1,511 |
| Value after costs | $9,786 | $10,493 | $11,251 |
| Impact on return, per year | 7.14% | 3.38% | 2.61% |
VNLAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0398%
- Total broker commissions: $3K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $44K
- Net income from securities lending: $937 (0.014% of average net assets)
VNLAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| EVERCORE GROUP L.L.C. | $786 | 30.17% |
| CitiGroup Global Markets Inc. | $650 | 24.95% |
| TD SECURITIES (USA) LLC | $286 | 10.98% |
| BOFA SECURITIES, INC. | $248 | 9.52% |
| JONESTRADING INSTITUTIONAL SERVICES LLC | $224 | 8.60% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $120 | 4.61% |
| JEFFERIES LLC | $110 | 4.22% |
| RBC CAPITAL MARKETS, LLC | $102 | 3.92% |
| BARCLAYS CAPITAL, INC. | $64 | 2.46% |
| WILLIAM BLAIR | $15 | 0.58% |
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.