VTAIX Fees and Costs — Virtus Tactical Allocation Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 0.76%: a 0.55% management fee plus 0.32% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $142K in broker commissions, 0.0223% of average net assets, and portfolio turnover was 51%.
VTAIX Fees and Expenses
Annual operating expenses and sales charges of VTAIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 0.87% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.76% |
| 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 |
VTAIX Costs Over Time
On $10,000 invested in VTAIX, assuming 5% a year before costs, total costs come to $491 over 5 years, cutting the return by 0.82% 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 0.76%) | $80 | $250 | $434 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $13 | $45 |
| Total costs | $82 | $270 | $491 |
| Value after costs | $10,418 | $11,307 | $12,271 |
| Impact on return, per year | 0.82% | 0.82% | 0.82% |
VTAIX 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): 0.0223%
- Total broker commissions: $142K
- Bought from dealers (principal trades, not a cost): $225.6M
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $964K
- Net income from securities lending: $11K (0.002% of average net assets)
VTAIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| SANFORD C. BERNSTEIN & CO., LLC | $22K | 21.65% |
| LIQUIDNET, INC. | $17K | 16.13% |
| KEPLER CAPITAL MARKETS, INC. | $12K | 11.90% |
| UBS Securities LLC | $11K | 10.44% |
| MACQUARIE CAPITAL (USA), INC. | $11K | 10.30% |
| AUERBACH GRAYSON & COMPANY LLC | $7K | 6.69% |
| WELLS FARGO SECURITIES, LLC | $6K | 6.18% |
| Joh. Berenberg, Gossler & Co. KG | $6K | 6.03% |
| Carnegie AS | $6K | 5.41% |
| NUMIS SECURITIES INC. | $5K | 5.27% |
VTAIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $35.1M | 19.73% |
| BOFA SECURITIES, INC. | $30.2M | 16.99% |
| MORGAN STANLEY & CO. LLC | $25.8M | 14.51% |
| GOLDMAN SACHS & CO. LLC | $25.0M | 14.05% |
| WELLS FARGO SECURITIES, LLC | $14.8M | 8.31% |
| BARCLAYS CAPITAL, INC. | $12.0M | 6.72% |
| PERSHING LLC | $11.4M | 6.39% |
| CitiGroup Global Markets Inc. | $10.5M | 5.91% |
| HSBC SECURITIES (USA), INC. | $7.0M | 3.91% |
| BNP PARIBAS SECURITIES CORP. | $6.2M | 3.48% |
Virtus Tactical Allocation Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VTARX | Class R6 | 0.60% | none |
| VTAIX | Class I | 0.76% | none |
| NAINX | Class A | 0.99% | 5.50% |
| POICX | Class C | 1.75% | 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.