HMANX Fees and Costs — Horizon Multi-Asset Income Fund, Investor Class
Data updated: 2020-10-27
The net expense ratio is 1.17% (2.12% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $7K in broker commissions, 0.0439% of average net assets, and portfolio turnover was 89%.
HMANX Fees and Expenses
Annual operating expenses and sales charges of HMANX. Prospectus, as of March 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.10% |
| Other expenses | 1.19% |
| Gross expense ratio | 2.12% |
| Fee waiver | −0.95% |
| Net expense ratio | 1.17% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
HMANX Costs Over Time
On $10,000 invested in HMANX, assuming 5% a year before costs, total costs come to $756 over 5 years, cutting the return by 1.27% 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 1.17%) | $123 | $382 | $662 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $20 | $69 |
| Total costs | $127 | $416 | $756 |
| Value after costs | $10,373 | $11,160 | $12,007 |
| Impact on return, per year | 1.27% | 1.27% | 1.27% |
HMANX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending November 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0439%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $83.3M
- Portfolio turnover (prospectus): 89%
- Securities lending: none during the year
HMANX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $6K | 78.16% |
| RBC CAPITAL MARKETS LLC | $1K | 17.31% |
| JEFFERIES LLC | $337 | 4.53% |
HMANX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $31.6M | 37.94% |
| FLOW TRADERS US LLC | $24.7M | 29.63% |
| BARCLAY INVESTMENTS LLC | $11.5M | 13.82% |
| MERRILL LYNCH PROFESSIONAL CLEARING CORP | $10.4M | 12.47% |
| JANE STREET EXECUTION SERVICES LLC | $5.1M | 6.13% |
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.