HISIX Fees and Costs — International Equity Fund
Data updated: 2026-08-04
The net expense ratio is 1.16%: a 0.75% management fee plus 0.41% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $40K in broker commissions, 0.0418% of average net assets, and portfolio turnover was 34%.
HISIX Fees and Expenses
Annual operating expenses and sales charges of HISIX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 0.41% |
| Gross expense ratio | 1.16% |
| Fee waiver | — |
| Net expense ratio | 1.16% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
HISIX Costs Over Time
On $10,000 invested in HISIX, assuming 5% a year before costs, total costs come to $749 over 5 years, cutting the return by 1.26% 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 1.16%) | $122 | $379 | $656 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $0 | $19 | $69 |
| Total costs | $126 | $412 | $749 |
| Value after costs | $10,374 | $11,164 | $12,014 |
| Impact on return, per year | 1.26% | 1.26% | 1.26% |
HISIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0418%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $39.9M
- Portfolio turnover (prospectus): 34%
- Securities lending: none during the year
HISIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $8K | 22.69% |
| Jefferies LLC | $7K | 21.43% |
| BNY Capital Markets, LLC | $3K | 9.55% |
| SG Americas Securities, LLC | $3K | 9.32% |
| Mizuho Securities USA LLC | $3K | 7.92% |
| Morgan Stanley & Co. LLC | $3K | 7.47% |
| Daiwa Capital Markets America Inc. | $2K | 6.47% |
| BNP Paribas Securities Corp. | $2K | 6.16% |
| J.P. Morgan Securities LLC | $2K | 4.66% |
| Stifel, Nicolaus & Company, Incorporated | $1K | 4.33% |
HISIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $39.8M | 99.99% |
| BNP Paribas Securities Corp. | $6K | 0.01% |
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.