HILFX Fees and Costs — Hennessy Large Cap Financial Fund, Institutional Class
Data updated: 2026-09-28
The net expense ratio is 1.55%: a 0.90% management fee plus 0.65% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.0499% of average net assets, and portfolio turnover was 48%.
HILFX Fees and Expenses
Annual operating expenses and sales charges of HILFX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.65% |
| Gross expense ratio | 1.55% |
| Fee waiver | — |
| Net expense ratio | 1.55% |
| 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 |
HILFX Costs Over Time
On $10,000 invested in HILFX, assuming 5% a year before costs, total costs come to $989 over 5 years, cutting the return by 1.68% 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 1.55%) | $163 | $505 | $870 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $26 | $91 |
| Total costs | $168 | $547 | $989 |
| Value after costs | $10,332 | $11,029 | $11,774 |
| Impact on return, per year | 1.68% | 1.68% | 1.68% |
HILFX 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): 0.0499%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
HILFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing, LLC | $4K | 28.51% |
| Keefe, Bruyette & Woods, Inc. | $3K | 22.44% |
| Raymond James and Associates, Inc. | $3K | 21.26% |
| Compass Point Research and Trading, LLC | $1K | 9.62% |
| Seaport Global Securities LLC | $1K | 8.13% |
| Janney Montgomery Scott LLC | $834 | 5.39% |
| Stifel Nicolaus & Co., Inc. | $720 | 4.65% |
Hennessy Large Cap Financial Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HILFX | Institutional Class | 1.55% | — |
| HLFNX | Investor Class | 1.88% | — |
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.