HFCVX Fees and Costs — Hennessy Cornerstone Value Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 1.21%: a 0.74% management fee, a 0.15% 12b-1 fee plus 0.32% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $131K in broker commissions, 0.0456% of average net assets, and portfolio turnover was 27%.
HFCVX Fees and Expenses
Annual operating expenses and sales charges of HFCVX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.32% |
| Gross expense ratio | 1.21% |
| Fee waiver | — |
| Net expense ratio | 1.21% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
HFCVX Costs Over Time
On $10,000 invested in HFCVX, assuming 5% a year before costs, total costs come to $781 over 5 years, cutting the return by 1.32% 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 1.21%) | $127 | $395 | $684 |
| Trading costs (broker commissions) | $5 | $15 | $26 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $132 | $431 | $781 |
| Value after costs | $10,368 | $11,146 | $11,981 |
| Impact on return, per year | 1.32% | 1.32% | 1.32% |
HFCVX 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): 0.0456%
- Total broker commissions: $131K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 27%
- Securities lending: none during the year
HFCVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Mirae Asset Securities Inc. | $32K | 24.22% |
| ITG, Inc. | $30K | 22.89% |
| Ladenburg Thalmann & Co. Inc. | $28K | 21.10% |
| BNY Mellon Capital Markets, LLC | $26K | 19.98% |
| RBC Capital Markets, LLC | $8K | 5.87% |
| Cowen Execution Services LLC | $5K | 3.48% |
| Pershing, LLC | $3K | 2.46% |
Hennessy Cornerstone Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HICVX | Institutional Class | 0.99% | — |
| HFCVX | Investor Class | 1.21% | — |
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.