HFCIX Fees and Costs — Hennessy Focus Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 1.10%: a 0.90% management fee plus 0.20% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $123K in broker commissions, 0.0217% of average net assets, and portfolio turnover was 1%.
HFCIX Fees and Expenses
Annual operating expenses and sales charges of HFCIX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.10% |
| Fee waiver | — |
| Net expense ratio | 1.10% |
| 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 |
HFCIX Costs Over Time
On $10,000 invested in HFCIX, assuming 5% a year before costs, total costs come to $700 over 5 years, cutting the return by 1.18% 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 1.10%) | $116 | $360 | $623 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $118 | $385 | $700 |
| Value after costs | $10,382 | $11,191 | $12,063 |
| Impact on return, per year | 1.18% | 1.18% | 1.18% |
HFCIX 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): 0.0217%
- Total broker commissions: $123K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
HFCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $46K | 37.40% |
| Tourmaline Partners, LLC | $42K | 34.62% |
| BTIG, LLC | $34K | 27.98% |
Hennessy Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HFCIX | Institutional Class | 1.10% | — |
| HFCSX | Investor Class | 1.48% | — |
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.