HDSIX Fees and Costs — Hodges Small Cap Fund, Institutional Class
Data updated: 2023-08-29
The net expense ratio is 1.15%: a 0.85% management fee plus 0.30% other expenses. This share class carries a redemption fee of 1.00%. In fiscal 2023 the fund paid $246K in broker commissions, 0.1328% of average net assets, and portfolio turnover was 69%.
HDSIX Fees and Expenses
Annual operating expenses and sales charges of HDSIX. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.15% |
| Fee waiver | — |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HDSIX Costs Over Time
On $10,000 invested in HDSIX, assuming 5% a year before costs, total costs come to $798 over 5 years, cutting the return by 1.35% 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 1.15%) | $121 | $376 | $650 |
| Trading costs (broker commissions) | $14 | $43 | $75 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $135 | $440 | $798 |
| Value after costs | $10,365 | $11,136 | $11,965 |
| Impact on return, per year | 1.35% | 1.35% | 1.35% |
HDSIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.1328%
- Total broker commissions: $246K
- Bought from dealers (principal trades, not a cost): $3K
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
HDSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $111K | 45.53% |
| FIRST DALLAS SECURITIES, INC. | $67K | 27.72% |
| PERSHING LLC | $24K | 9.92% |
| WEDBUSH SECURITIES INC. | $12K | 4.77% |
| MONNESS CRESPI HARDT & CO., INC. | $9K | 3.80% |
| FIDELITY BROKERAGE SERVICES LLC | $5K | 2.12% |
| RBC CAPITAL MARKETS, LLC | $4K | 1.85% |
| D.A. DAVIDSON & CO. | $4K | 1.67% |
| GOLDMAN SACHS & CO. LLC | $4K | 1.54% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $3K | 1.09% |
HDSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| PERSHING LLC | $3K | 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.