HRSVX Fees and Costs — Heartland Select Value Fund, Investor Class
Data updated: 2020-11-02
The net expense ratio is 1.25%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.25% other expenses. This share class carries a redemption fee of 2.00%. In fiscal 2019 the fund paid $341K in broker commissions, 0.1653% of average net assets, and portfolio turnover was 54%.
HRSVX Fees and Expenses
Annual operating expenses and sales charges of HRSVX. Prospectus, as of December 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.25% |
| Fee waiver | — |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
HRSVX Costs Over Time
On $10,000 invested in HRSVX, assuming 5% a year before costs, total costs come to $878 over 5 years, cutting the return by 1.49% 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 1.25%) | $131 | $408 | $704 |
| Trading costs (broker commissions) | $17 | $54 | $93 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $149 | $485 | $878 |
| Value after costs | $10,351 | $11,092 | $11,885 |
| Impact on return, per year | 1.49% | 1.49% | 1.49% |
HRSVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.1653%
- Total broker commissions: $341K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 54%
- Securities on loan, average value: $103K
- Net income from securities lending: $7K (0.003% of average net assets)
HRSVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen & Company | $153K | 55.86% |
| Liquidnet | $26K | 9.57% |
| Keefe Bruyette Woods | $25K | 9.23% |
| Robert W Baird | $20K | 7.16% |
| BTIG | $12K | 4.55% |
| Needham Co. | $9K | 3.31% |
| Stephens | $7K | 2.65% |
| Sidoti | $7K | 2.65% |
| Seaport Global Securities | $7K | 2.56% |
| Wells Fargo | $7K | 2.47% |
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.