HCUSX Fees and Costs — The U.S. Government Fixed Income Securities Portfolio
Data updated: 2026-02-27
The net expense ratio is 0.14%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $50K in broker commissions, 0.0049% of average net assets, and portfolio turnover was 63%.
HCUSX Fees and Expenses
Annual operating expenses and sales charges of HCUSX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.03% |
| 12b-1 fee | — |
| Other expenses | 0.09% |
| Gross expense ratio | 0.14% |
| Fee waiver | — |
| Net expense ratio | 0.14% |
| Sales charges | |
|---|---|
| Max front load | — |
| 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 |
HCUSX Costs Over Time
On $10,000 invested in HCUSX, assuming 5% a year before costs, total costs come to $92 over 5 years, cutting the return by 0.15% 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 0.14%) | $15 | $46 | $81 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $2 | $8 |
| Total costs | $15 | $50 | $92 |
| Value after costs | $10,485 | $11,526 | $12,671 |
| Impact on return, per year | 0.15% | 0.15% | 0.15% |
HCUSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0049%
- Total broker commissions: $50K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
HCUSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $27K | 53.97% |
| Goldman Sachs & Co. LLC | $22K | 44.71% |
| J.P. Morgan Securities LLC | $656 | 1.31% |
HCUSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $553.7M | 41.25% |
| State Street Global Markets, LLC | $203.9M | 15.19% |
| Morgan Stanley & Co. LLC | $154.2M | 11.49% |
| Citadel Securities LLC | $117.6M | 8.76% |
| BofA Securities, Inc. | $91.3M | 6.80% |
| BNP Paribas Securities Corp. | $80.4M | 5.99% |
| Goldman Sachs & Co. LLC | $79.8M | 5.94% |
| J.P. Morgan Securities LLC | $27.9M | 2.08% |
| Citigroup Global Markets Inc. | $19.8M | 1.47% |
| Nomura Securities International, Inc. | $14.0M | 1.04% |
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.