HDSVX Fees and Costs — Hodges Small Intrinsic Value Fund, Retail Class
Data updated: 2023-08-29
The net expense ratio is 1.29%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.68% other expenses, less a 0.49% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2023 the fund paid $52K in broker commissions, 0.2124% of average net assets, and portfolio turnover was 56%.
HDSVX Fees and Expenses
Annual operating expenses and sales charges of HDSVX. Prospectus, as of July 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.68% |
| Gross expense ratio | 1.78% |
| Fee waiver | −0.49% |
| Net expense ratio | 1.29% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
HDSVX Costs Over Time
On $10,000 invested in HDSVX, assuming 5% a year before costs, total costs come to $930 over 5 years, cutting the return by 1.58% 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 1.29%) | $135 | $420 | $725 |
| Trading costs (broker commissions) | $22 | $69 | $119 |
| Lost growth on money paid in costs | $0 | $24 | $86 |
| Total costs | $158 | $514 | $930 |
| Value after costs | $10,342 | $11,062 | $11,832 |
| Impact on return, per year | 1.58% | 1.58% | 1.58% |
HDSVX 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): 0.2124%
- Total broker commissions: $52K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 56%
- Securities lending: none during the year
HDSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MERRILL LYNCH PROFESSIONAL CLEARING CORP. | $33K | 63.35% |
| FIRST DALLAS SECURITIES, INC. | $16K | 29.60% |
| WEDBUSH SECURITIES INC. | $1K | 2.85% |
| PERSHING LLC | $1K | 1.97% |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | $625 | 1.19% |
| ROTH CAPITAL PARTNERS, LLC | $493 | 0.94% |
| FIDELITY BROKERAGE SERVICES LLC | $54 | 0.10% |
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.