HIIIX Fees and Costs — Catalyst/SMH High Income Fund, Class I
Data updated: 2026-09-11
The net expense ratio is 1.24%: a 1.00% management fee plus 1.11% other expenses, less a 0.88% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $18K in broker commissions, 0.0229% of average net assets, and portfolio turnover was 54%.
HIIIX Fees and Expenses
Annual operating expenses and sales charges of HIIIX. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.11% |
| Gross expense ratio | 2.12% |
| Fee waiver | −0.88% |
| Net expense ratio | 1.24% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
HIIIX Costs Over Time
On $10,000 invested in HIIIX, assuming 5% a year before costs, total costs come to $786 over 5 years, cutting the return by 1.33% 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 1.24%) | $130 | $405 | $701 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $20 | $72 |
| Total costs | $133 | $433 | $786 |
| Value after costs | $10,367 | $11,143 | $11,977 |
| Impact on return, per year | 1.33% | 1.33% | 1.33% |
HIIIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0229%
- Total broker commissions: $18K
- Bought from dealers (principal trades, not a cost): $199.7M
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $570K
- Net income from securities lending: $1K (0.002% of average net assets)
HIIIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| JONES TRADING | $18K | 100.00% |
HIIIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS | $180.8M | 90.55% |
| SOUTHWESTSECURITIES.COM | $17.8M | 8.91% |
| BLOOMBERG | $1.1M | 0.54% |
Catalyst/SMH High 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 |
|---|---|---|---|
| HIIIX | Class I | 1.24% | none |
| HIIFX | Class A | 1.49% | 4.75% |
| HIICX | Class C | 2.24% | none |
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.