Expense Ratio History

HCMAX expense ratio history

Hillman Value Fund

Fund company
Alps Series
Type
Mutual fund

1.03%

In basis points
103 basis points
Yearly cost per $10,000
$103
Prospectus dated
1 February 2026, filed with the SEC; rounded to 0.01%
Last change
Raised from 0.98% on 1 February 2026

Fee over time

HCMAX expense ratio: 1.15% until 27 Jan 2023, then 1.12%; 1.12% until 1 Feb 2024, then 0.99%; 0.99% until 28 Jan 2025, then 0.98%; 0.98% until 1 Feb 2026, then 1.03%; read at 1.03% on 1 Feb 2026.0.00%0.50%1.00%1.50%Feb 2021Jan 2022Dec 2022Nov 2023Oct 2024Sep 20251.15% before1.03% from 1 Feb 2026
HCMAX expense ratio: 1.15% until 27 Jan 2023, then 1.12%; 1.12% until 1 Feb 2024, then 0.99%; 0.99% until 28 Jan 2025, then 0.98%; 0.98% until 1 Feb 2026, then 1.03%; read at 1.03% on 1 Feb 2026.0.00%0.50%1.00%1.50%Feb 2021Nov 2022Aug 20241.15% before1.03% from 1 Feb 2026
Solid line: the fee in effect after each recorded change. Dashed: the fee before it. Dots: prospectuses filed with the SEC and dates we read the fee from a source.

Every figure we've recorded

DateFeeWhat happened
1 Feb 2026 1.03% In the prospectusTotal annual fund operating expenses in the prospectus dated 2026-02-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Feb 2026 1.03% Raised from 0.98% to 1.03%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2026-01-28
28 Jan 2025 0.98% In the prospectusTotal annual fund operating expenses in the prospectus dated 2025-01-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
28 Jan 2025 0.98% Cut from 0.99% to 0.98%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2025-01-28
1 Feb 2024 0.99% In the prospectusTotal annual fund operating expenses in the prospectus dated 2024-02-01 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
1 Feb 2024 0.99% Cut from 1.12% to 0.99%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2024-01-26
27 Jan 2023 1.12% In the prospectusTotal annual fund operating expenses in the prospectus dated 2023-01-27 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
27 Jan 2023 1.12% Cut from 1.15% to 1.12%Prospectus date; the new figure appears in this filingSource: Prospectus (form 485BPOS) filed with the SEC on 2023-01-27
28 Jan 2022 1.15% In the prospectusTotal annual fund operating expenses in the prospectus dated 2022-01-28 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS
15 Mar 2021 1.15% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-03-15 (form 497), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 497
11 Feb 2021 1.15% In the prospectusTotal annual fund operating expenses in the prospectus dated 2021-02-11 (form 485BPOS), from SEC bulk data, which rounds to 0.01%Source: SEC EDGAR filing, form 485BPOS

What this fee costs

Change the amount, years or return. The estimate keeps the fee at 1.03% and the return steady each year, the same assumptions as the cost example in a fund's prospectus.

$1,264 in fees over 10 years

After fees, $10,000 grows to $14,723.

Fees paid on $10,000 at 5% a year
AfterFees paid
1 year$106
3 years$329
5 years$571
10 years$1,264

How we read this figure

The figure is the total annual fund operating expenses line of the fee table in the fund's prospectus, as tagged in the fund company's filing with the SEC. The SEC publishes these figures rounded to four decimal places, so 0.015% appears as 0.02%. The fund company's own page may show a more precise number.

SEC filings give 7 prospectuses for this share class since 2021. Each one is listed above with a link to the filing.

How we read fees

More Alps Series funds

The cheapest of 10. All Alps Series funds.