HBTA Fees and Costs — Horizon Expedition Plus ETF
Data updated: 2026-07-10
The net expense ratio is 0.86%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $42K in broker commissions, 0.0768% of average net assets, and portfolio turnover was 92%.
HBTA Fees and Expenses
Annual operating expenses and sales charges of HBTA. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.86% |
| Fee waiver | — |
| Net expense ratio | 0.86% |
| 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 |
HBTA Costs Over Time
On $10,000 invested in HBTA, assuming 5% a year before costs, total costs come to $587 over 5 years, cutting the return by 0.98% 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 0.86%) | $90 | $282 | $489 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $15 | $54 |
| Total costs | $98 | $322 | $587 |
| Value after costs | $10,402 | $11,254 | $12,176 |
| Impact on return, per year | 0.98% | 0.98% | 0.98% |
HBTA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0768%
- Total broker commissions: $42K
- Bought from dealers (principal trades, not a cost): $20
- Portfolio turnover (prospectus): 92%
- Securities lending: none during the year
HBTA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $17K | 41.02% |
| STONEX FINANCIAL INC. | $15K | 36.17% |
| MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED | $8K | 19.19% |
| PERSHING LLC | $2K | 3.61% |
HBTA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $20 | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.