VSAGX Fees and Costs — Small Cap Aggressive Growth Fund
Data updated: 2021-04-29
The net expense ratio is 0.99%: a 0.85% management fee plus 0.16% other expenses, less a 0.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $179K in broker commissions, 0.1105% of average net assets, and portfolio turnover was 87%.
VSAGX Fees and Expenses
Annual operating expenses and sales charges of VSAGX. Prospectus, as of May 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 1.01% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
VSAGX Costs Over Time
On $10,000 invested in VSAGX, assuming 5% a year before costs, total costs come to $687 over 5 years, cutting the return by 1.16% 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 0.99%) | $104 | $324 | $561 |
| Trading costs (broker commissions) | $12 | $36 | $63 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $378 | $687 |
| Value after costs | $10,384 | $11,198 | $12,076 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
VSAGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1105%
- Total broker commissions: $179K
- Bought from dealers (principal trades, not a cost): $892.4M
- Portfolio turnover (prospectus): 87%
- Securities on loan, average value: $30.7M
- Net income from securities lending: $55K (0.034% of average net assets)
VSAGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $29K | 22.67% |
| Goldman Sachs & Co. LLC | $20K | 15.43% |
| J.P. Morgan Securities LLC | $19K | 14.76% |
| Liquidnet, Inc. | $13K | 9.99% |
| Capital Institutional Services, Inc. | $10K | 7.36% |
| Citigroup Global Markets Inc. | $8K | 6.42% |
| William Blair & Company, L.L.C. | $8K | 6.13% |
| Bofa Securities, Inc. | $8K | 6.00% |
| Barclays Capital Inc. | $7K | 5.72% |
| RBC Capital Markets, LLC | $7K | 5.51% |
VSAGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $884.8M | 99.15% |
| Goldman Sachs & Co. LLC | $2.7M | 0.30% |
| J.P. Morgan Securities LLC | $1.4M | 0.15% |
| Jefferies LLC | $1.1M | 0.13% |
| Morgan Stanley & Co. LLC | $741K | 0.08% |
| Citigroup Global Markets Inc. | $637K | 0.07% |
| Cowen and Company, LLC | $581K | 0.07% |
| Credit Suisse Securities (USA) LLC | $291K | 0.03% |
| Bofa Securities, Inc. | $167K | 0.02% |
| UBS Securities LLC | $9K | 0.00% |
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.