HCMUX Fees and Costs — HCM Dynamic Income Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 1.97%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $15K in broker commissions, 0.0117% of average net assets, and portfolio turnover was 201%.
HCMUX Fees and Expenses
Annual operating expenses and sales charges of HCMUX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.97% |
| Fee waiver | — |
| Net expense ratio | 1.97% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HCMUX Costs Over Time
On $10,000 invested in HCMUX, assuming 5% a year before costs, total costs come to $1,215 over 5 years, cutting the return by 2.08% 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 1.97%) | $207 | $639 | $1,096 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $32 | $113 |
| Total costs | $208 | $675 | $1,215 |
| Value after costs | $10,292 | $10,902 | $11,547 |
| Impact on return, per year | 2.08% | 2.08% | 2.08% |
HCMUX 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): 0.0117%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $33.9M
- Portfolio turnover (prospectus): 201%
- Securities lending: none during the year
HCMUX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Wallachbeth Capital, LLC | $13K | 84.84% |
| Mischler Financial Group, Inc. | $2K | 15.16% |
HCMUX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $18.9M | 100.00% |
HCM Dynamic Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HCMUX | Class I | 1.97% | none |
| HCMBX | Class A | 2.22% | 5.75% |
| HCMFX | Investor Class | 2.97% | 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.