BTIAX Fees and Costs — U.S. Treasury Index Fund
Data updated: 2025-05-27
The net expense ratio is 0.16%: a 0.13% management fee plus 0.14% other expenses, less a 0.11% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 24%.
BTIAX Fees and Expenses
Annual operating expenses and sales charges of BTIAX. Prospectus, as of July 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.13% |
| 12b-1 fee | — |
| Other expenses | 0.14% |
| Gross expense ratio | 0.27% |
| Fee waiver | −0.11% |
| Net expense ratio | 0.16% |
| 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 |
BTIAX Costs Over Time
On $10,000 invested in BTIAX, assuming 5% a year before costs, total costs come to $102 over 5 years, cutting the return by 0.17% 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 0.16%) | $17 | $53 | $93 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $17 | $55 | $102 |
| Value after costs | $10,483 | $11,521 | $12,661 |
| Impact on return, per year | 0.17% | 0.17% | 0.17% |
BTIAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $48.3M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
BTIAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF MONTREAL | $7.6M | 17.14% |
| CITADEL ADVISORS LLC | $6.2M | 13.88% |
| JPMorgan Chase Bank, National Association | $6.1M | 13.68% |
| GOLDMAN SACHS & CO. LLC | $5.9M | 13.15% |
| BARCLAYS BANK PLC | $4.5M | 10.00% |
| The Northern Trust Company | $4.3M | 9.72% |
| Wells Fargo Bank, National Association | $3.2M | 7.24% |
| MORGAN STANLEY & CO. LLC | $3.0M | 6.84% |
| BANK OF AMERICA CORPORATION | $2.0M | 4.58% |
| THE BANK OF NOVA SCOTIA | $1.7M | 3.76% |
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.