VWMIX Fees and Costs — Virtus Horizon Wealth Masters Fund, Class I
Data updated: 2020-08-26
The net expense ratio is 1.00%: a 0.85% management fee plus 0.42% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2019 the fund paid $26K in broker commissions, 0.0472% of average net assets, and portfolio turnover was 25%.
VWMIX Fees and Expenses
Annual operating expenses and sales charges of VWMIX. Prospectus, as of September 30, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.42% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.27% |
| Net expense ratio | 1.00% |
| 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 |
VWMIX Costs Over Time
On $10,000 invested in VWMIX, assuming 5% a year before costs, total costs come to $654 over 5 years, cutting the return by 1.10% 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 1.00%) | $105 | $327 | $568 |
| Trading costs (broker commissions) | $5 | $15 | $27 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $110 | $360 | $654 |
| Value after costs | $10,390 | $11,216 | $12,108 |
| Impact on return, per year | 1.10% | 1.10% | 1.10% |
VWMIX 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)
VWMIX 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.