C000224035 Fees and Costs — HW Opportunities MP Fund
Data updated: 2026-08-28
The net expense ratio is 0.01% (0.22% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $102K in broker commissions, 0.2635% of average net assets, and portfolio turnover was 75%.
C000224035 Fees and Expenses
Annual operating expenses and sales charges of C000224035. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | — |
| Gross expense ratio | 0.22% |
| Fee waiver | −0.21% |
| Net expense ratio | 0.01% |
| 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 | No |
C000224035 Costs Over Time
On $10,000 invested in C000224035, assuming 5% a year before costs, total costs come to $174 over 5 years, cutting the return by 0.29% 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 0.01%) | $1 | $3 | $6 |
| Trading costs (broker commissions) | $28 | $87 | $152 |
| Lost growth on money paid in costs | $0 | $4 | $16 |
| Total costs | $29 | $95 | $174 |
| Value after costs | $10,471 | $11,482 | $12,589 |
| Impact on return, per year | 0.29% | 0.29% | 0.29% |
C000224035 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.2635%
- Total broker commissions: $102K
- Bought from dealers (principal trades, not a cost): $1.9M
- Portfolio turnover (prospectus): 75%
- Securities lending: none during the year
C000224035 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Abel Noser LLC. | $18K | 21.26% |
| Merrill Lynch Pierce Fenner & Smith Incorporated | $18K | 21.18% |
| UBS Asset Management (US) Inc. | $13K | 15.44% |
| J.P. Morgan Securities LLC | $13K | 15.38% |
| RBC Capital Markets | $6K | 7.34% |
| Kepler Capital Markets | $4K | 5.22% |
| Goldman Sachs & Company LLC | $4K | 5.01% |
| Jefferies, LLC | $3K | 3.45% |
| Sanford C. Bernstein & Company LLC | $3K | 3.03% |
| Robert W. Baird & Co., Inc. | $2K | 2.70% |
C000224035 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets, Inc. | $639K | 34.01% |
| Morgan Stanley & Co. Inc. | $493K | 26.21% |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | $428K | 22.75% |
| J.P. Morgan Securities LLC | $320K | 17.03% |
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.