BREAX Fees and Costs — BlackRock International Dividend Fund, Investor A
Data updated: 2024-10-24
The net expense ratio is 0.91%: a 0.60% management fee, a 0.25% 12b-1 fee plus 0.31% other expenses, less a 0.25% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2024 the fund paid $322K in broker commissions, 0.0452% of average net assets, and portfolio turnover was 71%.
BREAX Fees and Expenses
Annual operating expenses and sales charges of BREAX. Prospectus, as of September 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.31% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.91% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
BREAX Costs Over Time
On $10,000 invested in BREAX, assuming 5% a year before costs, total costs come to $1,237 over 5 years, cutting the return by 2.12% 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 | $525 | $525 | $525 |
| Fund expenses (net expense ratio 0.91%) | $91 | $283 | $490 |
| Trading costs (broker commissions) | $4 | $14 | $24 |
| Lost growth on money paid in costs | $26 | $97 | $197 |
| Total costs | $646 | $919 | $1,237 |
| Value after costs | $9,854 | $10,657 | $11,526 |
| Impact on return, per year | 6.46% | 2.86% | 2.12% |
BREAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0452%
- Total broker commissions: $322K
- Bought from dealers (principal trades, not a cost): $556.9M
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
BREAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BARCLAYS CAPITAL, INC. | $47K | 17.57% |
| J.P. Morgan Securities LLC | $39K | 14.36% |
| MORGAN STANLEY & CO. LLC | $37K | 13.80% |
| UBS Securities LLC | $31K | 11.45% |
| JEFFERIES LLC | $29K | 10.88% |
| GOLDMAN SACHS & CO. LLC | $29K | 10.60% |
| CANTOR FITZGERALD & CO. | $27K | 9.85% |
| CITIGROUP GLOBAL MARKETS INC. | $13K | 4.88% |
| BOFA SECURITIES, INC. | $10K | 3.80% |
| Investec Securities (US) LLC | $8K | 2.82% |
BREAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds T-Fund | $556.9M | 100.00% |
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.