CHDEX Fees and Costs — Cullen High Dividend Equity Fund, Retail Class
Data updated: 2026-09-11
The net expense ratio is 1.00%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.11% other expenses, less a 0.36% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $202K in broker commissions, 0.0304% of average net assets, and portfolio turnover was 37%.
CHDEX Fees and Expenses
Annual operating expenses and sales charges of CHDEX. Prospectus, as of October 28, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.36% |
| Fee waiver | −0.36% |
| Net expense ratio | 1.00% |
| 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 |
CHDEX Costs Over Time
On $10,000 invested in CHDEX, assuming 5% a year before costs, total costs come to $644 over 5 years, cutting the return by 1.08% 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 | $328 | $568 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $354 | $644 |
| Value after costs | $10,392 | $11,222 | $12,119 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
CHDEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0304%
- Total broker commissions: $202K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 37%
- Securities lending: none during the year
CHDEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| COWEN GROUP | $74K | 36.44% |
| EVERCORE GROUP LLC | $50K | 24.55% |
| JPMORGAN CHASE | $27K | 13.51% |
| KEEFE, BRUYETTE & WOODS, INC. | $19K | 9.52% |
| Strategas Research Partners | $16K | 7.91% |
| GOLDMAN SACHS | $13K | 6.67% |
| OPPENHEIMER & CO. INC | $2K | 0.89% |
| BERENBERG CAPITAL MARKETS LLC | $1K | 0.52% |
Cullen High Dividend Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| CHDVX | Class I | 0.75% | — |
| CHDEX | Retail Class | 1.00% | — |
| CHDPX | Class R2 | 1.25% | — |
| CHDRX | Class R1 | 1.50% | — |
| CHVCX | Class C | 1.75% | — |
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.