C000223503 Fees and Costs — BlackRock Defensive Advantage International Fund, Class K
Data updated: 2023-12-27
The net expense ratio is 0.45%: a 0.45% management fee plus 2.43% other expenses, less a 2.43% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $7K in broker commissions, 0.0759% of average net assets, and portfolio turnover was 178%.
C000223503 Fees and Expenses
Annual operating expenses and sales charges of C000223503. Prospectus, as of August 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 2.43% |
| Gross expense ratio | 2.88% |
| Fee waiver | −2.43% |
| Net expense ratio | 0.45% |
| 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 |
C000223503 Costs Over Time
On $10,000 invested in C000223503, assuming 5% a year before costs, total costs come to $332 over 5 years, cutting the return by 0.55% 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 0.45%) | $47 | $148 | $258 |
| Trading costs (broker commissions) | $8 | $25 | $44 |
| Lost growth on money paid in costs | $0 | $9 | $30 |
| Total costs | $55 | $182 | $332 |
| Value after costs | $10,445 | $11,395 | $12,431 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
C000223503 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): 0.0759%
- Total broker commissions: $7K
- Bought from dealers (principal trades, not a cost): $3.1M
- Portfolio turnover (prospectus): 178%
- Securities on loan, average value: $10K
- Net income from securities lending: $243 (0.003% of average net assets)
C000223503 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $798 | 14.15% |
| Barclays Capital Inc. | $721 | 12.79% |
| Morgan Stanley & Co. LLC | $694 | 12.31% |
| Credit Suisse Securities (USA) LLC | $607 | 10.76% |
| Goldman Sachs & Co. LLC | $569 | 10.09% |
| Instinet, LLC | $532 | 9.42% |
| UBS Securities LLC | $526 | 9.32% |
| Exane, Inc. | $520 | 9.21% |
| BNP Paribas Securities Corp. | $363 | 6.44% |
| J.P. Morgan Securities LLC | $311 | 5.52% |
C000223503 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds - T-Fund | $3.1M | 99.99% |
| Morgan Stanley & Co. LLC | $75 | 0.00% |
| UBS Securities LLC | $72 | 0.00% |
| Citigroup Global Markets Inc. | $36 | 0.00% |
| Barclays Capital Inc. | $27 | 0.00% |
| Goldman Sachs & Co. LLC | $27 | 0.00% |
| BNP Paribas Securities Corp. | $26 | 0.00% |
| Instinet, LLC | $16 | 0.00% |
| SG Americas Securities, LLC | $9 | 0.00% |
| Parel | $8 | 0.00% |
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.