HSGFX Fees and Costs — Hussman Strategic Market Cycle Fund
Data updated: 2026-08-28
The net expense ratio is 1.23% (1.26% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $2.0M in broker commissions, 0.5605% of average net assets, and portfolio turnover was 470%.
HSGFX Fees and Expenses
Annual operating expenses and sales charges of HSGFX. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.28% |
| Gross expense ratio | 1.26% |
| Fee waiver | −0.03% |
| Net expense ratio | 1.23% |
| 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 | Yes |
| Waived fees subject to recoupment | Yes |
HSGFX Costs Over Time
On $10,000 invested in HSGFX, assuming 5% a year before costs, total costs come to $1,102 over 5 years, cutting the return by 1.88% 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 1.23%) | $129 | $400 | $687 |
| Trading costs (broker commissions) | $59 | $182 | $313 |
| Lost growth on money paid in costs | $0 | $29 | $102 |
| Total costs | $188 | $611 | $1,102 |
| Value after costs | $10,312 | $10,965 | $11,660 |
| Impact on return, per year | 1.88% | 1.88% | 1.88% |
HSGFX 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): 0.5605%
- Total broker commissions: $2.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 470%
- Securities lending: none during the year
HSGFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.0M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.