HBYAX Fees and Costs — HSBC High Yield Fund, Class A
Data updated: 2021-03-30
The net expense ratio is 0.93% (2.60% before fee waivers). This share class carries a maximum front-end sales load of 3.75%. Portfolio turnover was 76%.
HBYAX Fees and Expenses
Annual operating expenses and sales charges of HBYAX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | — |
| Other expenses | 1.92% |
| Gross expense ratio | 2.60% |
| Fee waiver | −1.67% |
| Net expense ratio | 0.93% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| 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 |
HBYAX Costs Over Time
On $10,000 invested in HBYAX, assuming 5% a year before costs, total costs come to $1,039 over 5 years, cutting the return by 1.77% 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 |
| Sales charges | $375 | $375 | $375 |
| Fund expenses (net expense ratio 0.93%) | $94 | $293 | $509 |
| Lost growth on money paid in costs | $19 | $74 | $155 |
| Total costs | $488 | $742 | $1,039 |
| Value after costs | $10,012 | $10,834 | $11,724 |
| Impact on return, per year | 4.88% | 2.29% | 1.77% |
HBYAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $40.7M
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
HBYAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $9.4M | 27.68% |
| BARCLAYS CAPITAL INC. | $4.3M | 12.63% |
| CREDIT SUISSE SECURITIES (USA) LLC | $4.0M | 11.86% |
| CITIGROUP GLOBAL MARKETS INC. | $3.8M | 11.02% |
| GOLDMAN SACHS & CO. LLC | $3.2M | 9.32% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $2.8M | 8.19% |
| ROBERT W. BAIRD & CO. | $1.9M | 5.51% |
| MORGAN STANLEY & CO. LLC | $1.8M | 5.39% |
| WELLS FARGO SECURITIES, LLC | $1.6M | 4.81% |
| CANTOR FITZGERALD & CO. | $1.2M | 3.59% |
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.