VREQX Fees and Costs — NYLI CBRE Real Estate Fund, Class R6
Data updated: 2026-09-23
The net expense ratio is 0.74%: a 0.75% management fee plus 0.12% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $209K in broker commissions, 0.0936% of average net assets, and portfolio turnover was 79%.
VREQX Fees and Expenses
Annual operating expenses and sales charges of VREQX. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.12% |
| Gross expense ratio | 0.87% |
| Fee waiver | −0.13% |
| Net expense ratio | 0.74% |
| 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 |
VREQX Costs Over Time
On $10,000 invested in VREQX, assuming 5% a year before costs, total costs come to $523 over 5 years, cutting the return by 0.88% 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 0.74%) | $78 | $243 | $422 |
| Trading costs (broker commissions) | $10 | $31 | $53 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $287 | $523 |
| Value after costs | $10,412 | $11,289 | $12,240 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
VREQX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0936%
- Total broker commissions: $209K
- Bought from dealers (principal trades, not a cost): $66.8M
- Portfolio turnover (prospectus): 79%
- Securities on loan, average value: $757K
- Net income from securities lending: $3K (0.001% of average net assets)
VREQX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $31K | 18.56% |
| Raymond James & Associates, Inc. | $20K | 12.04% |
| Citigroup Global Markets Inc. | $20K | 11.84% |
| Evercore Group L.L.C. | $19K | 11.00% |
| J.P. Morgan Securities LLC | $18K | 10.40% |
| Morgan Stanley & Co. LLC | $15K | 8.77% |
| Pershing LLC | $14K | 8.52% |
| UBS Securities LLC | $11K | 6.77% |
| Goldman Sachs & Co. LLC | $11K | 6.44% |
| Wells Fargo Securities, LLC | $10K | 5.64% |
VREQX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $65.0M | 97.31% |
| Wells Fargo Securities, LLC | $1.2M | 1.76% |
| BofA Securities, Inc. | $562K | 0.84% |
| Morgan Stanley & Co. LLC | $64K | 0.10% |
NYLI CBRE Real Estate Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VREQX | Class R6 | 0.74% | none |
| CRARX | Class I | 0.83% | none |
| CLARX | Class A | 1.18% | 5.50% |
| CRVRX | Investor Class | 1.31% | 5.00% |
| CRCRX | Class C | 1.93% | 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.