HSIEX Fees and Costs — Hussman Strategic International Fund
Data updated: 2023-05-26
The net expense ratio is 2.01%: a 0.95% management fee plus 2.40% other expenses, less a 1.35% fee waiver. There are no sales loads or redemption fees. In fiscal 2022 the fund paid $16K in broker commissions, 0.1115% of average net assets, and portfolio turnover was 48%.
HSIEX Fees and Expenses
Annual operating expenses and sales charges of HSIEX. Prospectus, as of March 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.40% |
| Gross expense ratio | 3.36% |
| Fee waiver | −1.35% |
| Net expense ratio | 2.01% |
| 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 |
HSIEX Costs Over Time
On $10,000 invested in HSIEX, assuming 5% a year before costs, total costs come to $1,298 over 5 years, cutting the return by 2.23% 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 2.01%) | $211 | $651 | $1,115 |
| Trading costs (broker commissions) | $12 | $36 | $62 |
| Lost growth on money paid in costs | $0 | $34 | $120 |
| Total costs | $223 | $721 | $1,298 |
| Value after costs | $10,277 | $10,855 | $11,465 |
| Impact on return, per year | 2.23% | 2.23% | 2.23% |
HSIEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2022.
- Explicit cost rate (commissions ÷ average net assets): 0.1115%
- Total broker commissions: $16K
- Bought from dealers (principal trades, not a cost): $3K
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
HSIEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J. P. Morgan Securities LLC | $15K | 93.23% |
| Jefferies LLC | $1K | 6.77% |
HSIEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J. P. Morgan Securities LLC | $3K | 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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.