C000202326 Fees and Costs — BlackRock Credit Relative Value Fund, Institutional Class
Data updated: 2026-10-13
The net expense ratio is 1.39% (1.43% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $290K in broker commissions, 0.0345% of average net assets, and portfolio turnover was 113%.
C000202326 Fees and Expenses
Annual operating expenses and sales charges of C000202326. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.46% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.04% |
| Net expense ratio | 1.39% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
C000202326 Costs Over Time
On $10,000 invested in C000202326, assuming 5% a year before costs, total costs come to $883 over 5 years, cutting the return by 1.50% 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 1.39%) | $146 | $453 | $783 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $23 | $81 |
| Total costs | $150 | $488 | $883 |
| Value after costs | $10,350 | $11,089 | $11,879 |
| Impact on return, per year | 1.50% | 1.50% | 1.50% |
C000202326 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0345%
- Total broker commissions: $290K
- Bought from dealers (principal trades, not a cost): $3.1B
- Portfolio turnover (prospectus): 113%
C000202326 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $47K | 17.10% |
| UBS Securities LLC | $45K | 16.17% |
| Citigroup Global Markets Inc. | $42K | 15.21% |
| Susquehanna Financial Group, LLLP | $38K | 13.79% |
| Barclays Capital, Inc. | $35K | 12.57% |
| Wells Fargo Securities, LLC | $27K | 9.79% |
| Goldman Sachs & Co. LLC | $16K | 5.68% |
| BNP Paribas Securities Corp. | $13K | 4.70% |
| J.P. Morgan Securities LLC | $8K | 3.04% |
| Jane Street Execution Services, LLC | $5K | 1.95% |
C000202326 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds T-Fund | $1.2B | 42.53% |
| Barclays Capital, Inc. | $328.7M | 11.85% |
| J.P. Morgan Securities LLC | $256.0M | 9.23% |
| Morgan Stanley & Co. LLC | $245.1M | 8.83% |
| Goldman Sachs & Co. LLC | $227.7M | 8.21% |
| Citigroup Global Markets Inc. | $195.1M | 7.03% |
| Deutsche Bank Securities Inc. | $116.9M | 4.21% |
| BofA Securities, Inc. | $104.5M | 3.76% |
| BNP Paribas Securities Corp. | $75.6M | 2.73% |
| Wells Fargo Securities, LLC | $45.1M | 1.63% |
BlackRock Credit Relative Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000202327 | Class K | 1.32% | — |
| C000202326 | Institutional Class | 1.39% | none |
| C000202324 | Investor A | 1.59% | 4.00% |
| C000202325 | Investor C | 2.34% | none |
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.