C000223507 Fees and Costs — BlackRock Defensive Advantage Emerging Markets Fund, Class K
Data updated: 2026-09-25
The net expense ratio is 0.81%: a 0.80% management fee plus 3.26% other expenses, less a 3.25% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $27K in broker commissions, 0.2186% of average net assets, and portfolio turnover was 211%.
C000223507 Fees and Expenses
Annual operating expenses and sales charges of C000223507. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.00% |
| Other expenses | 3.26% |
| Gross expense ratio | 4.06% |
| Fee waiver | −3.25% |
| Net expense ratio | 0.81% |
| 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 |
C000223507 Costs Over Time
On $10,000 invested in C000223507, assuming 5% a year before costs, total costs come to $643 over 5 years, cutting the return by 1.08% 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 0.81%) | $85 | $265 | $460 |
| Trading costs (broker commissions) | $23 | $72 | $124 |
| Lost growth on money paid in costs | $0 | $17 | $59 |
| Total costs | $108 | $354 | $643 |
| Value after costs | $10,392 | $11,223 | $12,120 |
| Impact on return, per year | 1.08% | 1.08% | 1.08% |
C000223507 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.2186%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $14.3M
- Portfolio turnover (prospectus): 211%
- Securities on loan, average value: $53K
- Net income from securities lending: $5K (0.039% of average net assets)
C000223507 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $5K | 22.29% |
| Morgan Stanley & Co. LLC | $5K | 19.45% |
| Goldman Sachs & Co. LLC | $3K | 11.86% |
| UBS Securities LLC | $3K | 10.64% |
| Jefferies LLC | $2K | 7.61% |
| Citigroup Global Markets Inc. | $2K | 7.53% |
| Macquarie Capital (USA) Inc. | $1K | 5.87% |
| HSBC Securities (USA) Inc. | $1K | 5.87% |
| BNP Paribas Securities Corp. | $1K | 4.89% |
| BofA Securities, Inc. | $964 | 3.99% |
C000223507 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds - T-Fund | $14.3M | 100.00% |
BlackRock Defensive Advantage Emerging Markets Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000223507 | Class K | 0.81% | — |
| C000223506 | Institutional Class | 0.85% | none |
| C000223508 | Investor A | 1.11% | 5.25% |
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.