C000223508 Fees and Costs — BlackRock Defensive Advantage Emerging Markets Fund, Investor A
Data updated: 2026-09-25
The net expense ratio is 1.11%: a 0.80% management fee, a 0.25% 12b-1 fee plus 3.45% other expenses, less a 3.39% fee waiver. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2026 the fund paid $27K in broker commissions, 0.2186% of average net assets, and portfolio turnover was 211%.
C000223508 Fees and Expenses
Annual operating expenses and sales charges of C000223508. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.25% |
| Other expenses | 3.45% |
| Gross expense ratio | 4.50% |
| Fee waiver | −3.39% |
| Net expense ratio | 1.11% |
| 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 |
C000223508 Costs Over Time
On $10,000 invested in C000223508, assuming 5% a year before costs, total costs come to $1,452 over 5 years, cutting the return by 2.51% 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 1.11%) | $110 | $343 | $593 |
| Trading costs (broker commissions) | $22 | $68 | $117 |
| Lost growth on money paid in costs | $26 | $103 | $217 |
| Total costs | $683 | $1,039 | $1,452 |
| Value after costs | $9,817 | $10,537 | $11,311 |
| Impact on return, per year | 6.83% | 3.24% | 2.51% |
C000223508 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)
C000223508 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% |
C000223508 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.