HDSMX Fees and Costs — Hodges Small-Mid Cap Fund, Retail Class
Data updated: 2020-06-15
The net expense ratio is 1.40%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.82% other expenses, less a 0.52% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $19K in broker commissions, 0.1694% of average net assets, and portfolio turnover was 76%.
HDSMX Fees and Expenses
Annual operating expenses and sales charges of HDSMX. Prospectus, as of July 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.82% |
| Gross expense ratio | 1.92% |
| Fee waiver | −0.52% |
| Net expense ratio | 1.40% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
HDSMX Costs Over Time
On $10,000 invested in HDSMX, assuming 5% a year before costs, total costs come to $971 over 5 years, cutting the return by 1.65% 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 1.40%) | $147 | $456 | $786 |
| Trading costs (broker commissions) | $18 | $55 | $95 |
| Lost growth on money paid in costs | $0 | $25 | $89 |
| Total costs | $165 | $537 | $971 |
| Value after costs | $10,335 | $11,040 | $11,792 |
| Impact on return, per year | 1.65% | 1.65% | 1.65% |
HDSMX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.1694%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $518K
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
HDSMX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| First Dallas Securities Inc. | $11K | 59.27% |
| CAPITAL INSTITUTIONAL SERVICES, INC. | $5K | 26.25% |
| WEDBUSH SECURITIES INC. | $1K | 5.49% |
| INSTINET, LLC | $770 | 4.08% |
| RBC CAPITAL MARKETS, LLC | $400 | 2.12% |
| PROSPERA FINANCIAL SERVICES | $375 | 1.99% |
| MONNESS CRESPI HARDT & CO., INC. | $150 | 0.80% |
HDSMX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES & COMPANY INC. | $518K | 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.