MHIDX Fees and Costs — Miller/Howard Income-Equity Fund, Adviser Share Class
Data updated: 2020-08-26
The net expense ratio is 1.03%: a 0.65% management fee, a 0.25% 12b-1 fee plus 0.70% other expenses, less a 0.57% fee waiver. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $2K in broker commissions, 0.0036% of average net assets, and portfolio turnover was 50%.
MHIDX Fees and Expenses
Annual operating expenses and sales charges of MHIDX. Prospectus, as of February 29, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.70% |
| Gross expense ratio | 1.60% |
| Fee waiver | −0.57% |
| Net expense ratio | 1.03% |
| 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 | Yes |
MHIDX Costs Over Time
On $10,000 invested in MHIDX, assuming 5% a year before costs, total costs come to $646 over 5 years, cutting the return by 1.09% 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 1.03%) | $108 | $337 | $585 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $109 | $355 | $646 |
| Value after costs | $10,391 | $11,221 | $12,117 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
MHIDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0036%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 50%
- Securities on loan, average value: —
- Net income from securities lending: —
MHIDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Abel Noser Corp. | $84K | 91.23% |
| Cowen Execution Services | $7K | 7.10% |
| Confier Securities, LLC. | $2K | 1.66% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.