GASFX Fees and Costs — Hennessy Gas Utility Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 0.97%: a 0.40% management fee, a 0.15% 12b-1 fee plus 0.42% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $152K in broker commissions, 0.0305% of average net assets, and portfolio turnover was 26%.
GASFX Fees and Expenses
Annual operating expenses and sales charges of GASFX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.42% |
| Gross expense ratio | 0.97% |
| Fee waiver | — |
| Net expense ratio | 0.97% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
GASFX Costs Over Time
On $10,000 invested in GASFX, assuming 5% a year before costs, total costs come to $626 over 5 years, cutting the return by 1.05% 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 0.97%) | $102 | $318 | $551 |
| Trading costs (broker commissions) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $105 | $344 | $626 |
| Value after costs | $10,395 | $11,232 | $12,137 |
| Impact on return, per year | 1.05% | 1.05% | 1.05% |
GASFX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0305%
- Total broker commissions: $152K
- Bought from dealers (principal trades, not a cost): $752K
- Portfolio turnover (prospectus): 26%
- Securities lending: none during the year
GASFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $54K | 35.17% |
| RBC Capital Markets, LLC | $35K | 22.89% |
| Pershing, LLC | $22K | 14.76% |
| JonesTrading Institutional Services LLC | $17K | 11.01% |
| Ladenburg Thalmann & Co. Inc. | $13K | 8.87% |
| ITG, Inc. | $11K | 7.30% |
GASFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $752K | 100.00% |
Hennessy Gas Utility Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HGASX | Institutional Class | 0.67% | — |
| GASFX | Investor Class | 0.97% | — |
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.