HNRGX Fees and Costs — Hennessy Energy Transition Fund, Investor Class
Data updated: 2026-09-28
The net expense ratio is 2.53%: a 1.25% management fee, a 0.15% 12b-1 fee plus 1.30% other expenses, less a 0.17% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.1030% of average net assets, and portfolio turnover was 33%.
HNRGX Fees and Expenses
Annual operating expenses and sales charges of HNRGX. Prospectus, as of March 2, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.25% |
| 12b-1 fee | 0.15% |
| Other expenses | 1.30% |
| Gross expense ratio | 2.70% |
| Fee waiver | −0.17% |
| Net expense ratio | 2.53% |
| 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 |
HNRGX Costs Over Time
On $10,000 invested in HNRGX, assuming 5% a year before costs, total costs come to $1,594 over 5 years, cutting the return by 2.76% 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 2.53%) | $266 | $815 | $1,389 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $42 | $149 |
| Total costs | $276 | $891 | $1,594 |
| Value after costs | $10,224 | $10,686 | $11,169 |
| Impact on return, per year | 2.76% | 2.76% | 2.76% |
HNRGX 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): 0.1030%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 33%
- Securities lending: none during the year
HNRGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Raymond James and Associates, Inc. | $7K | 44.47% |
| Wells Fargo Securities, LLC | $5K | 35.67% |
| J.P. Morgan Securities LLC | $2K | 15.46% |
| Pershing, LLC | $380 | 2.49% |
| Stifel Nicolaus & Co., Inc. | $290 | 1.90% |
Hennessy Energy Transition Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HNRIX | Institutional Class | 2.20% | — |
| HNRGX | Investor Class | 2.53% | — |
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.