C000223502 Fees and Costs — BlackRock Defensive Advantage U.S. Fund, Investor A
Data updated: 2023-12-27
The net expense ratio is 0.73%: a 0.43% management fee, a 0.25% 12b-1 fee plus 3.34% other expenses, less a 3.29% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2023 the fund paid $1K in broker commissions, 0.0245% of average net assets, and portfolio turnover was 132%.
C000223502 Fees and Expenses
Annual operating expenses and sales charges of C000223502. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.34% |
| Gross expense ratio | 4.02% |
| Fee waiver | −3.29% |
| Net expense ratio | 0.73% |
| 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 |
C000223502 Costs Over Time
On $10,000 invested in C000223502, assuming 5% a year before costs, total costs come to $1,119 over 5 years, cutting the return by 1.91% 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 0.73%) | $73 | $227 | $395 |
| Trading costs (broker commissions) | $2 | $8 | $13 |
| Lost growth on money paid in costs | $26 | $94 | $186 |
| Total costs | $626 | $854 | $1,119 |
| Value after costs | $9,874 | $10,722 | $11,643 |
| Impact on return, per year | 6.26% | 2.65% | 1.91% |
C000223502 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0245%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $2.6M
- Portfolio turnover (prospectus): 132%
- Securities on loan, average value: $2K
- Net income from securities lending: $19 (0.000% of average net assets)
C000223502 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $179 | 16.56% |
| BNP Paribas Securities Corp. | $145 | 13.46% |
| Barclays Capital Inc. | $143 | 13.28% |
| Morgan Stanley & Co. LLC | $107 | 9.93% |
| J.P. Morgan Securities LLC | $105 | 9.69% |
| UBS Securities LLC | $91 | 8.45% |
| Goldman Sachs & Co. LLC | $83 | 7.72% |
| Instinet, LLC | $83 | 7.68% |
| Cowen and Company, LLC | $73 | 6.74% |
| Wells Fargo Securities, LLC | $70 | 6.50% |
C000223502 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds - T-Fund | $2.6M | 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.