HCMIX Fees and Costs — HCM Tactical Plus Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 1.73%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $394K in broker commissions, 0.0199% of average net assets, and portfolio turnover was 264%.
HCMIX Fees and Expenses
Annual operating expenses and sales charges of HCMIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.11% |
| Gross expense ratio | 1.73% |
| Fee waiver | — |
| Net expense ratio | 1.73% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HCMIX Costs Over Time
On $10,000 invested in HCMIX, assuming 5% a year before costs, total costs come to $1,078 over 5 years, cutting the return by 1.84% 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 1.73%) | $182 | $562 | $968 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $28 | $100 |
| Total costs | $184 | $597 | $1,078 |
| Value after costs | $10,316 | $10,979 | $11,685 |
| Impact on return, per year | 1.84% | 1.84% | 1.84% |
HCMIX 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): 0.0199%
- Total broker commissions: $394K
- Bought from dealers (principal trades, not a cost): $50.8M
- Portfolio turnover (prospectus): 264%
- Securities lending: none during the year
HCMIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mischler Financial Group, Inc. | $264K | 67.04% |
| Wallachbeth Capital, LLC | $130K | 32.96% |
HCMIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $50.8M | 100.00% |
HCM Tactical Plus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HCMIX | Class I | 1.73% | none |
| HCMGX | Class A | 1.98% | 5.75% |
| HCMSX | Class R | 2.25% | none |
| HCMDX | Investor Class | 2.73% | none |
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.