VSSVX Fees and Costs — Small Cap Core Fund
Data updated: 2026-09-28
The net expense ratio is 0.83%: a 0.75% management fee plus 0.19% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $132K in broker commissions, 0.0767% of average net assets, and portfolio turnover was 124%.
VSSVX Fees and Expenses
Annual operating expenses and sales charges of VSSVX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.19% |
| Gross expense ratio | 0.94% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.83% |
| 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 |
VSSVX Costs Over Time
On $10,000 invested in VSSVX, assuming 5% a year before costs, total costs come to $568 over 5 years, cutting the return by 0.95% 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 0.83%) | $87 | $272 | $472 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $312 | $568 |
| Value after costs | $10,405 | $11,264 | $12,195 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
VSSVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0767%
- Total broker commissions: $132K
- Bought from dealers (principal trades, not a cost): $63.8M
- Portfolio turnover (prospectus): 124%
- Securities on loan, average value: $8.9M
- Net income from securities lending: $16K (0.009% of average net assets)
VSSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Macquarie Capital (USA) Inc. | $50K | 46.43% |
| BofA Securities, Inc. | $12K | 11.63% |
| Barclays Capital Inc. | $11K | 10.11% |
| Citigroup Global Markets Inc. | $9K | 8.75% |
| Liquidnet, Inc. | $7K | 6.69% |
| Goldman Sachs & Co. LLC | $6K | 5.73% |
| Robert W. Baird & Co. Incorporated | $3K | 3.17% |
| Capital Institutional Services, Inc. | $3K | 2.67% |
| SG Americas Securities, LLC | $3K | 2.52% |
| Raymond James & Associates, Inc. | $2K | 2.31% |
VSSVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $58.4M | 92.42% |
| Cantor Fitzgerald & Co. | $1.2M | 1.96% |
| Jefferies LLC | $907K | 1.43% |
| J.P. Morgan Securities LLC | $786K | 1.24% |
| Goldman Sachs & Co. LLC | $504K | 0.80% |
| B. Riley & Co., LLC | $454K | 0.72% |
| Needham & Company, LLC | $280K | 0.44% |
| Wells Fargo Securities, LLC | $278K | 0.44% |
| Northern Trust Securities, Inc. | $202K | 0.32% |
| Stifel, Nicolaus & Company, Incorporated | $139K | 0.22% |
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.