HNASX Fees and Costs — Growth Fund
Data updated: 2026-08-04
The net expense ratio is 0.79%: a 0.63% management fee plus 0.16% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $44K in broker commissions, 0.0108% of average net assets, and portfolio turnover was 67%.
HNASX Fees and Expenses
Annual operating expenses and sales charges of HNASX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.63% |
| 12b-1 fee | — |
| Other expenses | 0.16% |
| Gross expense ratio | 0.79% |
| Fee waiver | — |
| Net expense ratio | 0.79% |
| 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 | No |
| Waived fees subject to recoupment | No |
HNASX Costs Over Time
On $10,000 invested in HNASX, assuming 5% a year before costs, total costs come to $503 over 5 years, cutting the return by 0.84% 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 0.79%) | $83 | $259 | $451 |
| Trading costs (broker commissions) | $1 | $4 | $6 |
| Lost growth on money paid in costs | $0 | $13 | $46 |
| Total costs | $84 | $276 | $503 |
| Value after costs | $10,416 | $11,300 | $12,260 |
| Impact on return, per year | 0.84% | 0.84% | 0.84% |
HNASX 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): 0.0108%
- Total broker commissions: $44K
- Bought from dealers (principal trades, not a cost): $138.3M
- Portfolio turnover (prospectus): 67%
- Securities lending: none during the year
HNASX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $11K | 31.85% |
| Goldman Sachs & Co. LLC | $5K | 13.06% |
| Morgan Stanley & Co. LLC | $4K | 12.57% |
| Jefferies LLC | $4K | 10.52% |
| RBC Capital Markets, LLC | $3K | 7.51% |
| Virtu Americas LLC | $2K | 6.93% |
| BMO Capital Markets Corp. | $2K | 5.27% |
| TD Securities (USA) LLC | $2K | 4.76% |
| UBS Securities LLC | $1K | 3.95% |
| Evercore Group L.L.C. | $1K | 3.60% |
HNASX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $136.0M | 98.34% |
| J.P. Morgan Securities LLC | $2.3M | 1.66% |
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.