HSSIX Fees and Costs — Emerald Banking and Finance Fund, Institutional Class
Data updated: 2026-09-25
The net expense ratio is 1.36%: a 1.00% management fee plus 0.36% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $72K in broker commissions, 0.1538% of average net assets, and portfolio turnover was 63%.
HSSIX Fees and Expenses
Annual operating expenses and sales charges of HSSIX. Prospectus, as of August 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.36% |
| Gross expense ratio | 1.36% |
| Fee waiver | — |
| Net expense ratio | 1.36% |
| 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 |
HSSIX Costs Over Time
On $10,000 invested in HSSIX, assuming 5% a year before costs, total costs come to $937 over 5 years, cutting the return by 1.59% 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 1.36%) | $143 | $443 | $764 |
| Trading costs (broker commissions) | $16 | $50 | $86 |
| Lost growth on money paid in costs | $0 | $25 | $86 |
| Total costs | $159 | $518 | $937 |
| Value after costs | $10,341 | $11,058 | $11,826 |
| Impact on return, per year | 1.59% | 1.59% | 1.59% |
HSSIX 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): 0.1538%
- Total broker commissions: $72K
- Bought from dealers (principal trades, not a cost): $1.1M
- Portfolio turnover (prospectus): 63%
- Securities lending: none during the year
HSSIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Keefe Bruyette Woods | $21K | 29.17% |
| Raymond James | $17K | 24.01% |
| Stephens | $12K | 16.54% |
| Piper Sandler | $12K | 16.12% |
| CRAIG-HALLUM CAPITAL GROUP LLC | $8K | 10.89% |
| JANNEY MONTGOMERY SCOTT LLC | $2K | 2.37% |
| BLOOMBERG TRADEBOOK LLC | $453 | 0.63% |
| BARCLAYS CAPITAL INC. | $80 | 0.11% |
| RBC CAPITAL MARKETS, LLC | $78 | 0.11% |
| Truist Securities Inc. | $44 | 0.06% |
HSSIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Piper Sandler | $429K | 38.82% |
| JPMORGAN DISTRIBUTION SERVICES, INC. | $281K | 25.38% |
| MORGAN STANLEY | $231K | 20.92% |
| KEEFE, BRUYETTE & WOODS, INC. | $164K | 14.87% |
Emerald Banking and Finance Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HSSIX | Institutional Class | 1.36% | none |
| FFBFX | Investor Class | 1.78% | none |
| HSSAX | Class A | 1.84% | 4.75% |
| HSSCX | Class C | 2.46% | none |
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.