C000244086 Fees and Costs — Hodges Small Intrinsic Value Fund, Retail Class
Data updated: 2026-08-25
The net expense ratio is 1.26%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.67% other expenses, less a 0.51% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $95K in broker commissions, 0.1808% of average net assets, and portfolio turnover was 69%.
C000244086 Fees and Expenses
Annual operating expenses and sales charges of C000244086. Prospectus, as of July 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.67% |
| Gross expense ratio | 1.77% |
| Fee waiver | −0.51% |
| Net expense ratio | 1.26% |
| 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 |
C000244086 Costs Over Time
On $10,000 invested in C000244086, assuming 5% a year before costs, total costs come to $893 over 5 years, cutting the return by 1.51% 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 1.26%) | $132 | $411 | $709 |
| Trading costs (broker commissions) | $19 | $59 | $102 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $493 | $893 |
| Value after costs | $10,349 | $11,083 | $11,869 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
C000244086 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.1808%
- Total broker commissions: $95K
- Bought from dealers (principal trades, not a cost): $577K
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
C000244086 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Capital Institutional Services, Inc. | $61K | 64.04% |
| Stephens, Inc. | $8K | 7.96% |
| The Benchmark Company LLC | $7K | 7.24% |
| William Blair & Co. | $5K | 5.57% |
| First Dallas Securities, Inc. | $4K | 4.33% |
| Roth Capital Partners, LLC | $4K | 4.25% |
| Strategas Securities LLC | $4K | 4.09% |
| Stifel, Nicolaus & Company, Inc. | $2K | 2.20% |
| Truist Securities, Inc. | $303 | 0.32% |
C000244086 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Cantor Fitz | $577K | 100.00% |
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.