HEIIX Fees and Costs — Hennessy Equity and Income Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 1.26%: a 0.80% management fee plus 0.46% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $7K in broker commissions, 0.0143% of average net assets, and portfolio turnover was 27%.
HEIIX Fees and Expenses
Annual operating expenses and sales charges of HEIIX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.46% |
| Gross expense ratio | 1.26% |
| Fee waiver | — |
| Net expense ratio | 1.26% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HEIIX Costs Over Time
On $10,000 invested in HEIIX, assuming 5% a year before costs, total costs come to $793 over 5 years, cutting the return by 1.34% 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 1.26%) | $132 | $412 | $712 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $21 | $73 |
| Total costs | $134 | $437 | $793 |
| Value after costs | $10,366 | $11,139 | $11,970 |
| Impact on return, per year | 1.34% | 1.34% | 1.34% |
HEIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0143%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $9.8M
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
HEIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Sanford C. Bernstein & Co. LLC | $2K | 33.23% |
| Stifel, Nicolaus & Company, Inc. | $2K | 27.71% |
| RBC Capital Markets, LLC | $857 | 11.46% |
| ITG, Inc. | $681 | 9.10% |
| Jefferies LLC | $669 | 8.94% |
| Piper Jaffray & Co. | $625 | 8.35% |
| BTIG, LLC | $51 | 0.68% |
| Liquidnet, Inc. | $39 | 0.52% |
HEIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $2.8M | 30.10% |
| Capital Institutional Services Inc. | $1.5M | 15.69% |
| MarketAxess Corp. | $1.5M | 15.59% |
| Wells Fargo Securities, LLC | $1.3M | 13.98% |
| Suntrust Capital Markets Inc. | $549K | 5.88% |
| Stifel Nicolaus & Co., Inc. | $529K | 5.67% |
| Keybanc Capital Markets Inc | $363K | 3.89% |
| Cantor Fitzgerald & Co. | $290K | 3.11% |
| CIS Securities, Inc. | $289K | 3.09% |
| Piper Jaffray & Co. | $280K | 3.00% |
Hennessy Equity and 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 |
|---|---|---|---|
| HEIIX | Institutional Class | 1.26% | — |
| HEIFX | Investor Class | 1.63% | — |
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.