HFMDX Fees and Costs — Hennessy Cornerstone Mid Cap 30 Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 1.34%: a 0.74% management fee, a 0.15% 12b-1 fee plus 0.45% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $5.3M in broker commissions, 0.3599% of average net assets, and portfolio turnover was 129%.
HFMDX Fees and Expenses
Annual operating expenses and sales charges of HFMDX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.74% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.45% |
| Gross expense ratio | 1.34% |
| Fee waiver | — |
| Net expense ratio | 1.34% |
| 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 |
HFMDX Costs Over Time
On $10,000 invested in HFMDX, assuming 5% a year before costs, total costs come to $1,049 over 5 years, cutting the return by 1.78% 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 1.34%) | $141 | $436 | $750 |
| Trading costs (broker commissions) | $38 | $117 | $201 |
| Lost growth on money paid in costs | $0 | $28 | $97 |
| Total costs | $178 | $580 | $1,049 |
| Value after costs | $10,322 | $10,996 | $11,714 |
| Impact on return, per year | 1.78% | 1.78% | 1.78% |
HFMDX 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): 0.3599%
- Total broker commissions: $5.3M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 129%
- Securities lending: none during the year
HFMDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ITG, Inc. | $1.0M | 19.45% |
| Pershing, LLC | $840K | 15.75% |
| Mirae Asset Securities Inc. | $644K | 12.08% |
| Jefferies LLC | $587K | 11.01% |
| JonesTrading Institutional Services LLC | $585K | 10.97% |
| RBC Capital Markets, LLC | $552K | 10.36% |
| Ladenburg Thalman & Co. | $548K | 10.28% |
| BNY Mellon Capital Markets, LLC | $351K | 6.58% |
| Cowen Execution Services LLC | $187K | 3.51% |
| LPL Financial, LLC | $568 | 0.01% |
Hennessy Cornerstone Mid Cap 30 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HIMDX | Institutional Class | 0.98% | — |
| HFMDX | Investor Class | 1.34% | — |
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.