C000234661 Fees and Costs — BlackRock Impact Municipal Fund, Institutional Class
Data updated: 2025-10-27
The net expense ratio is 0.59%: a 0.45% management fee plus 0.63% other expenses, less a 0.50% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $124 in broker commissions, 0.0003% of average net assets, and portfolio turnover was 18%.
C000234661 Fees and Expenses
Annual operating expenses and sales charges of C000234661. Prospectus, as of September 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.63% |
| Gross expense ratio | 1.09% |
| Fee waiver | −0.50% |
| Net expense ratio | 0.59% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| 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 | Yes |
C000234661 Costs Over Time
On $10,000 invested in C000234661, assuming 5% a year before costs, total costs come to $372 over 5 years, cutting the return by 0.62% 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 0.59%) | $62 | $194 | $338 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $10 | $34 |
| Total costs | $62 | $204 | $372 |
| Value after costs | $10,438 | $11,372 | $12,391 |
| Impact on return, per year | 0.62% | 0.62% | 0.62% |
C000234661 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0003%
- Total broker commissions: $124
- Bought from dealers (principal trades, not a cost): $30.2M
- Portfolio turnover (prospectus): 18%
- Securities lending: none during the year
C000234661 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $124 | 100.00% |
C000234661 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds - MuniCash | $17.3M | 57.34% |
| Morgan Stanley & Co. LLC | $3.0M | 9.81% |
| Goldman Sachs & Co. LLC | $2.2M | 7.36% |
| Jefferies LLC | $2.1M | 7.04% |
| Stonex Financial Inc. | $2.1M | 6.91% |
| J.P. Morgan Securities LLC | $1.6M | 5.38% |
| RBC Capital Markets, LLC | $921K | 3.05% |
| BofA Securities, Inc. | $575K | 1.91% |
| First Horizon Advisors, Inc. | $365K | 1.21% |
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.