HBFBX Fees and Costs — Hennessy Balanced Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 1.88%: a 0.60% management fee, a 0.15% 12b-1 fee plus 1.13% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0096% of average net assets, and portfolio turnover was 39%.
HBFBX Fees and Expenses
Annual operating expenses and sales charges of HBFBX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.15% |
| Other expenses | 1.13% |
| Gross expense ratio | 1.88% |
| Fee waiver | — |
| Net expense ratio | 1.88% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
HBFBX Costs Over Time
On $10,000 invested in HBFBX, assuming 5% a year before costs, total costs come to $1,161 over 5 years, cutting the return by 1.98% 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 1.88%) | $197 | $610 | $1,048 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $31 | $107 |
| Total costs | $198 | $644 | $1,161 |
| Value after costs | $10,302 | $10,932 | $11,602 |
| Impact on return, per year | 1.98% | 1.98% | 1.98% |
HBFBX 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): 0.0096%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $2.8M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
HBFBX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Ladenburg Thalmann & Co. Inc. | $971 | 78.24% |
| Pershing, LLC | $270 | 21.76% |
HBFBX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $2.8M | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.