WLVIX Fees and Costs — Westwood Total Return Fund, Institutional Class
Data updated: 2022-01-13
The net expense ratio is 0.75%: a 0.70% management fee plus 0.40% other expenses, less a 0.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2021 the fund paid $75K in broker commissions, 0.0648% of average net assets, and portfolio turnover was 62%.
WLVIX Fees and Expenses
Annual operating expenses and sales charges of WLVIX. Prospectus, as of February 28, 2021.
| Annual operating expenses | |
|---|---|
| Management fee | 0.70% |
| 12b-1 fee | — |
| Other expenses | 0.40% |
| Gross expense ratio | 1.10% |
| Fee waiver | −0.35% |
| Net expense ratio | 0.75% |
| 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 | Yes |
WLVIX Costs Over Time
On $10,000 invested in WLVIX, assuming 5% a year before costs, total costs come to $512 over 5 years, cutting the return by 0.86% 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 0.75%) | $79 | $246 | $428 |
| Trading costs (broker commissions) | $7 | $21 | $37 |
| Lost growth on money paid in costs | $0 | $13 | $47 |
| Total costs | $86 | $281 | $512 |
| Value after costs | $10,414 | $11,296 | $12,251 |
| Impact on return, per year | 0.86% | 0.86% | 0.86% |
WLVIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2021.
- Explicit cost rate (commissions ÷ average net assets): 0.0648%
- Total broker commissions: $75K
- Bought from dealers (principal trades, not a cost): $91.3M
- Portfolio turnover (prospectus): 62%
- Securities lending: none during the year
WLVIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST BROKERAGE INSTITUTION | $75K | 100.00% |
WLVIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NORTHERN TRUST COMPANY-TRUST | $316.9M | 82.93% |
| JPM CHASE | $18.2M | 4.77% |
| CITIGROUP | $14.9M | 3.91% |
| MORGAN STANLEY & CO, INC | $7.9M | 2.06% |
| JEFFERIES | $6.5M | 1.71% |
| WELLS FARGO BROKERAGE SERVICES, | $6.4M | 1.69% |
| MERRILL LYNCH | $4.8M | 1.25% |
| RBC CAPITAL | $2.7M | 0.70% |
| CREDIT SUISSE FIRST BOSTON LLC | $1.9M | 0.50% |
| STIFEL NICOLAUS & CO., INC. | $1.9M | 0.49% |
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.