HYFAX Fees and Costs — Harbor High-Yield Bond Fund, Institutional Class
Data updated: 2023-03-31
The net expense ratio is 0.65%: a 0.60% management fee plus 0.14% other expenses, less a 0.09% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 126%.
HYFAX Fees and Expenses
Annual operating expenses and sales charges of HYFAX. Prospectus, as of February 28, 2022.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.74% |
| Fee waiver | −0.09% |
| Net expense ratio | 0.65% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
HYFAX Costs Over Time
On $10,000 invested in HYFAX, assuming 5% a year before costs, total costs come to $409 over 5 years, cutting the return by 0.68% 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 0.65%) | $68 | $214 | $372 |
| Lost growth on money paid in costs | $0 | $11 | $37 |
| Total costs | $68 | $224 | $409 |
| Value after costs | $10,432 | $11,352 | $12,353 |
| Impact on return, per year | 0.68% | 0.68% | 0.68% |
HYFAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2022.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $549.1M
- Portfolio turnover (prospectus): 126%
- Securities lending: none during the year
HYFAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $84.0M | 17.56% |
| BofA Securities, Inc. | $82.0M | 17.14% |
| Barclays Capital Inc. | $65.2M | 13.63% |
| MarketAxess Corporation | $49.1M | 10.26% |
| Goldman Sachs & Co. LLC | $48.6M | 10.16% |
| Jefferies LLC | $37.3M | 7.80% |
| Morgan Stanley & Co. LLC | $36.1M | 7.55% |
| Citigroup Global Markets Inc. | $32.1M | 6.70% |
| Credit Suisse Securities (USA) LLC | $27.1M | 5.66% |
| Wells Fargo Securities, LLC | $17.0M | 3.55% |
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.