VRREX Fees and Costs — Virtus Duff & Phelps Real Estate Securities Fund, Class R6
Data updated: 2026-08-28
The net expense ratio is 0.79%: a 0.75% management fee plus 0.20% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $92K in broker commissions, 0.0252% of average net assets, and portfolio turnover was 17%.
VRREX Fees and Expenses
Annual operating expenses and sales charges of VRREX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 0.95% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.79% |
| 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 | Yes |
VRREX Costs Over Time
On $10,000 invested in VRREX, assuming 5% a year before costs, total costs come to $512 over 5 years, cutting the return by 0.86% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $86 | $281 | $512 |
| Value after costs | $10,414 | $11,295 | $12,251 |
| Impact on return, per year | 0.86% | 0.86% | 0.86% |
VRREX 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): 0.0252%
- Total broker commissions: $92K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 17%
- Securities lending: none during the year
VRREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $21K | 22.61% |
| EVERCORE GROUP L.L.C. | $16K | 17.01% |
| WELLS FARGO SECURITIES, LLC | $14K | 15.48% |
| SMBC NIKKO SECURITIES AMERICA, INC. | $11K | 12.02% |
| MORGAN STANLEY & CO. LLC | $9K | 9.40% |
| BOFA SECURITIES, INC. | $9K | 9.35% |
| CITIGROUP GLOBAL MARKETS INC. | $8K | 8.61% |
| RBC CAPITAL MARKETS, LLC | $4K | 4.34% |
| UBS Securities LLC | $696 | 0.76% |
| JEFFERIES LLC | $405 | 0.44% |
Virtus Duff & Phelps Real Estate Securities Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VRREX | Class R6 | 0.79% | none |
| PHRIX | Class I | 0.99% | none |
| PHRAX | Class A | 1.24% | 5.50% |
| PHRCX | Class C | 1.99% | 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.