VNSAX Fees and Costs — Vaughan Nelson Select Fund, Class A
Data updated: 2026-07-29
The net expense ratio is 1.09%: a 0.66% management fee, a 0.25% 12b-1 fee plus 0.18% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2025 the fund paid $204K in broker commissions, 0.0337% of average net assets, and portfolio turnover was 64%.
VNSAX Fees and Expenses
Annual operating expenses and sales charges of VNSAX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.09% |
| Fee waiver | — |
| Net expense ratio | 1.09% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
VNSAX Costs Over Time
On $10,000 invested in VNSAX, assuming 5% a year before costs, total costs come to $1,395 over 5 years, cutting the return by 2.40% 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 | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.09%) | $108 | $336 | $582 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $29 | $108 | $220 |
| Total costs | $715 | $1,029 | $1,395 |
| Value after costs | $9,785 | $10,547 | $11,368 |
| Impact on return, per year | 7.15% | 3.21% | 2.40% |
VNSAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0337%
- Total broker commissions: $204K
- Bought from dealers (principal trades, not a cost): $3.6B
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
VNSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $68K | 35.24% |
| Raymond James & Associates, Inc. | $39K | 19.99% |
| Nomura Securities International, Inc. | $37K | 19.21% |
| BTIG, LLC | $10K | 4.99% |
| Cantor Fitzgerald & Co. | $9K | 4.57% |
| Jefferies LLC | $8K | 4.34% |
| BofA Securities, Inc. | $8K | 4.05% |
| UBS Securities LLC | $7K | 3.64% |
| JonesTrading Institutional Services LLC | $5K | 2.39% |
| Truist Securities, Inc. | $3K | 1.59% |
VNSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $3.6B | 100.00% |
Vaughan Nelson Select Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VNSNX | Class N | 0.72% | none |
| VNSYX | Class Y | 0.84% | none |
| VNSAX | Class A | 1.09% | 5.75% |
| VNSTX | Class T | 1.10% | 2.50% |
| VNSCX | Class C | 1.84% | 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.