VWMCX Fees and Costs — Virtus Horizon Wealth Masters Fund, Class C
Data updated: 2020-08-26
The net expense ratio is 2.00%: a 0.85% management fee, a 1.00% 12b-1 fee plus 0.43% other expenses, less a 0.28% fee waiver. This share class carries a deferred sales charge of up to 1.00%. In fiscal 2019 the fund paid $26K in broker commissions, 0.0472% of average net assets, and portfolio turnover was 25%.
VWMCX Fees and Expenses
Annual operating expenses and sales charges of VWMCX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.43% |
| Gross expense ratio | 2.28% |
| Fee waiver | −0.28% |
| Net expense ratio | 2.00% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 1.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
VWMCX Costs Over Time
On $10,000 invested in VWMCX, assuming 5% a year before costs, total costs come to $1,254 over 5 years, cutting the return by 2.15% 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 |
| Sales charges | $103 | $0 | $0 |
| Fund expenses (net expense ratio 2.00%) | $210 | $648 | $1,112 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $33 | $116 |
| Total costs | $318 | $697 | $1,254 |
| Value after costs | $10,182 | $10,880 | $11,509 |
| Impact on return, per year | 3.18% | 2.15% | 2.15% |
VWMCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0472%
- Total broker commissions: $26K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $2.5M
- Net income from securities lending: $141K (0.253% of average net assets)
VWMCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company, LLC | $16K | 62.08% |
| FBN Securities, Inc. | $7K | 25.38% |
| VIRTU AMERICAS LLC | $3K | 12.09% |
| BNY MELLON CAPITAL MARKETS, LLC | $104 | 0.40% |
| WEEDEN & CO. L.P. | $13 | 0.05% |
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.