HOTIX Fees and Costs — Holbrook Total Return Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 1.15%: a 0.65% management fee plus 1.65% other expenses, less a 1.15% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2K in broker commissions, 0.0096% of average net assets, and portfolio turnover was 20%.
HOTIX Fees and Expenses
Annual operating expenses and sales charges of HOTIX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.65% |
| Gross expense ratio | 2.30% |
| Fee waiver | −1.15% |
| Net expense ratio | 1.15% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
HOTIX Costs Over Time
On $10,000 invested in HOTIX, assuming 5% a year before costs, total costs come to $723 over 5 years, cutting the return by 1.22% 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 1.15%) | $121 | $376 | $651 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $19 | $66 |
| Total costs | $122 | $398 | $723 |
| Value after costs | $10,378 | $11,178 | $12,040 |
| Impact on return, per year | 1.22% | 1.22% | 1.22% |
HOTIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0096%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $27.6M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
HOTIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| LADENBURG THALMANN | $1K | 67.71% |
| LUCID Capital Markets LLC | $525 | 32.29% |
HOTIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JANNEY MONTGOMERY SCOTT | $17.1M | 64.81% |
| HUNTINGTON BANK | $2.3M | 8.62% |
| FIRST BALLANTYNE | $1.4M | 5.20% |
| JPMORGAN CHASE | $1.2M | 4.69% |
| SEAPORT GROUP | $1.2M | 4.59% |
| MORGAN STANLEY SMITH BARNEY | $1.0M | 3.80% |
| CITADEL SECURITIES | $762K | 2.88% |
| COLLIERS SECURITIES LLC | $539K | 2.04% |
| LUCID PRIME | $500K | 1.89% |
| PERFORMANCE TRUST CAPITAL PARTERS | $392K | 1.48% |
Holbrook Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HOTIX | Class I | 1.15% | none |
| HOTAX | Class A | 1.40% | 2.25% |
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.