WCEIX Fees and Costs — Virtus Westchester Event-Driven Fund, Class I
Data updated: 2026-08-28
The net expense ratio is 1.66% (1.73% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $431K in broker commissions, 0.3264% of average net assets, and portfolio turnover was 255%.
WCEIX Fees and Expenses
Annual operating expenses and sales charges of WCEIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.39% |
| Gross expense ratio | 1.73% |
| Fee waiver | −0.07% |
| Net expense ratio | 1.66% |
| 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 |
WCEIX Costs Over Time
On $10,000 invested in WCEIX, assuming 5% a year before costs, total costs come to $1,218 over 5 years, cutting the return by 2.09% 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 1.66%) | $174 | $538 | $924 |
| Trading costs (broker commissions) | $34 | $106 | $182 |
| Lost growth on money paid in costs | $0 | $32 | $113 |
| Total costs | $209 | $676 | $1,218 |
| Value after costs | $10,291 | $10,900 | $11,545 |
| Impact on return, per year | 2.09% | 2.09% | 2.09% |
WCEIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.3264%
- Total broker commissions: $431K
- Bought from dealers (principal trades, not a cost): $287.5M
- Portfolio turnover (prospectus): 255%
- Securities on loan, average value: $95K
- Net income from securities lending: $2K (0.001% of average net assets)
WCEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WELLS FARGO SECURITIES, LLC | $71K | 21.53% |
| INTERACTIVE BROKERS, LLC | $60K | 18.34% |
| TD SECURITIES (USA) LLC | $58K | 17.63% |
| Raymond James & Associates, Inc. | $38K | 11.53% |
| MORGAN STANLEY & CO. LLC | $27K | 8.30% |
| United First Partners LLC | $19K | 5.89% |
| GOLDMAN SACHS & CO. LLC | $15K | 4.54% |
| NATIONAL FINANCIAL SERVICES LLC | $14K | 4.23% |
| Seaport Global Securities LLC | $14K | 4.20% |
| UBS Securities LLC | $13K | 3.80% |
WCEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $176.8M | 64.89% |
| J.P. Morgan Securities LLC | $59.8M | 21.93% |
| Robert W. Baird & Co. Incorporated | $9.4M | 3.46% |
| BOFA SECURITIES, INC. | $6.0M | 2.21% |
| IMPERIAL CAPITAL, LLC | $4.8M | 1.77% |
| PERSHING LLC | $4.1M | 1.51% |
| CANTOR FITZGERALD & CO. | $3.8M | 1.39% |
| CitiGroup Global Markets Inc. | $2.6M | 0.95% |
| RBC CAPITAL MARKETS, LLC | $2.6M | 0.95% |
| OPPENHEIMER & CO. INC. | $2.5M | 0.94% |
Virtus Westchester Event-Driven Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| WCEIX | Class I | 1.66% | none |
| WCERX | Class A | 1.91% | 5.50% |
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.