HREIX Fees and Costs — Hood River Emerging Markets Fund, Investor Shares
Data updated: 2026-09-14
The net expense ratio is 1.50% (4.62% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $118K in broker commissions, 0.5078% of average net assets.
HREIX Fees and Expenses
Annual operating expenses and sales charges of HREIX. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | — |
| Gross expense ratio | 4.62% |
| Fee waiver | −3.12% |
| Net expense ratio | 1.50% |
| 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 |
HREIX Costs Over Time
On $10,000 invested in HREIX, assuming 5% a year before costs, total costs come to $1,231 over 5 years, cutting the return by 2.11% 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 1.50%) | $158 | $486 | $834 |
| Trading costs (broker commissions) | $53 | $165 | $282 |
| Lost growth on money paid in costs | $0 | $32 | $114 |
| Total costs | $211 | $683 | $1,231 |
| Value after costs | $10,289 | $10,893 | $11,532 |
| Impact on return, per year | 2.11% | 2.11% | 2.11% |
HREIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.5078%
- Total broker commissions: $118K
- Bought from dealers (principal trades, not a cost): $115.6M
- Portfolio turnover (prospectus): —
- Securities on loan, average value: $418K
- Net income from securities lending: $2K (0.007% of average net assets)
HREIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Instinet, LLC | $38K | 38.66% |
| Samsung Securities (America), Inc. | $22K | 22.48% |
| CICC US Securities, Inc. | $15K | 15.31% |
| Citigroup Global Markets Inc. | $12K | 12.59% |
| Mirae Asset Securities (USA), Inc. | $3K | 3.09% |
| Morgan Stanley & Co., LLC | $3K | 2.88% |
| Boston Capital Securities, Inc. | $2K | 1.65% |
| Virtu Financial Capital Markets LLC | $1K | 1.46% |
| Goldman Sachs & Co., Inc. | $1K | 1.23% |
| Robert W. Baird & Co., Incorporated | $637 | 0.65% |
HREIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $2.1M | 29.81% |
| J.P. Morgan Securities, LLC | $1.7M | 25.12% |
| Drexel Hamilton, LLC | $1.5M | 21.96% |
| RBC Capital Markets, LLC | $417K | 6.06% |
| Merrill Lynch, Pierce, Fenner & Smith, Inc. | $415K | 6.03% |
| Goldman Sachs & Co., Inc. | $272K | 3.96% |
| Cantor Fitzgerald & Co. | $259K | 3.76% |
| Citigroup Global Markets Inc. | $228K | 3.31% |
Hood River Emerging Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HRERX | Retirement Shares | 1.15% | — |
| HREOX | Institutional Shares | 1.25% | — |
| HREIX | Investor Shares | 1.50% | — |
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.