HWHAX Fees and Costs — Hotchkis and Wiley High Yield Fund, Class A
Data updated: 2026-09-10
The net expense ratio is 0.94%: a 0.55% management fee, a 0.25% 12b-1 fee plus 0.20% other expenses, less a 0.06% fee waiver. This share class carries a maximum front-end sales load of 3.75%. In fiscal 2026 the fund paid $1K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 53%.
HWHAX Fees and Expenses
Annual operating expenses and sales charges of HWHAX. Prospectus, as of August 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.20% |
| Gross expense ratio | 1.00% |
| Fee waiver | −0.06% |
| Net expense ratio | 0.94% |
| Sales charges | |
|---|---|
| Max front load | 3.75% |
| 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 | No |
HWHAX Costs Over Time
On $10,000 invested in HWHAX, assuming 5% a year before costs, total costs come to $1,045 over 5 years, cutting the return by 1.78% 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 |
| Sales charges | $375 | $375 | $375 |
| Fund expenses (net expense ratio 0.94%) | $95 | $297 | $515 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $19 | $74 | $156 |
| Total costs | $489 | $745 | $1,045 |
| Value after costs | $10,011 | $10,831 | $11,717 |
| Impact on return, per year | 4.89% | 2.30% | 1.78% |
HWHAX 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): 0.0002%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $709.1M
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
HWHAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| ABEL NOSER LLC. | $1K | 100.00% |
HWHAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. MORGAN SECURITIES LLC | $103.3M | 18.09% |
| BOFA SECURITIES INC. | $76.5M | 13.40% |
| GOLDMAN SACHS & CO. LLC | $72.0M | 12.61% |
| WELLS FARGO SECURITIES LLC | $66.1M | 11.58% |
| BARCLAYS CAPITAL INC. | $58.9M | 10.32% |
| CITIGROUP GLOBAL MARKETS INC. | $52.6M | 9.21% |
| MORGAN STANLEY SMITH BARNEY LLC | $52.6M | 9.21% |
| MARKETAXESS CORPORATION | $35.9M | 6.29% |
| TRUMID FINANCIAL LLC | $31.2M | 5.46% |
| UBS SECURITIES LLC | $21.8M | 3.81% |
Hotchkis and Wiley High Yield Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HWHZX | Class Z | 0.60% | none |
| HWHIX | Class I | 0.70% | none |
| HWHAX | Class A | 0.94% | 3.75% |
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.