C000120981 Fees and Costs — BlackRock LifePath Smart Beta 2020 Fund, Institutional Class
Data updated: 2020-01-10
The net expense ratio is 0.33% (1.16% before fee waivers). There are no sales loads or redemption fees. In fiscal 2019 the fund paid $7K in broker commissions, 0.0378% of average net assets, and portfolio turnover was 102%.
C000120981 Fees and Expenses
Annual operating expenses and sales charges of C000120981. Prospectus, as of February 28, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 0.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.93% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.83% |
| Net expense ratio | 0.33% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | Yes |
C000120981 Costs Over Time
On $10,000 invested in C000120981, assuming 5% a year before costs, total costs come to $233 over 5 years, cutting the return by 0.39% 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 0.33%) | $35 | $109 | $190 |
| Trading costs (broker commissions) | $4 | $12 | $22 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $127 | $233 |
| Value after costs | $10,461 | $11,449 | $12,530 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
C000120981 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0378%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $10.9M
- Portfolio turnover (prospectus): 102%
- Securities on loan, average value: $920K
- Net income from securities lending: $5K (0.029% of average net assets)
C000120981 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CREDIT SUISSE SECURITIES (USA) LLC | $2K | 35.46% |
| MORGAN STANLEY & CO. LLC | $1K | 14.60% |
| BOFA SECURITIES, INC. | $875 | 12.73% |
| CitiGroup Global Markets Inc. | $790 | 11.49% |
| VIRTU AMERICAS LLC | $522 | 7.59% |
| UBS Securities LLC | $419 | 6.09% |
| Jane Street Execution Services, LLC | $346 | 5.03% |
| GOLDMAN SACHS & CO. LLC | $177 | 2.57% |
| WELLS FARGO SECURITIES, LLC | $159 | 2.31% |
| CITADEL SECURITIES LLC | $145 | 2.11% |
C000120981 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds T-Fund | $8.3M | 76.60% |
| BlackRock Funds BlackRock Total Factor Fund | $1.8M | 16.99% |
| Quantitative Master Series LLC Master Small Cap Index Series | $697K | 6.41% |
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.