ESML Fees and Costs — iShares ESG Aware MSCI USA Small-Cap ETF
Data updated: 2026-07-27
The net expense ratio is 0.17%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $324K in broker commissions, 0.0175% of average net assets, and portfolio turnover was 35%.
ESML Fees and Expenses
Annual operating expenses and sales charges of ESML. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.17% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.17% |
| Fee waiver | — |
| Net expense ratio | 0.17% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
ESML Costs Over Time
On $10,000 invested in ESML, assuming 5% a year before costs, total costs come to $119 over 5 years, cutting the return by 0.20% 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 0.17%) | $18 | $56 | $98 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $3 | $11 |
| Total costs | $20 | $65 | $119 |
| Value after costs | $10,480 | $11,511 | $12,644 |
| Impact on return, per year | 0.20% | 0.20% | 0.20% |
ESML Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0175%
- Total broker commissions: $324K
- Bought from dealers (principal trades, not a cost): $493.9M
- Portfolio turnover (prospectus): 35%
- Securities on loan, average value: $104.2M
- Net income from securities lending: $1.0M (0.054% of average net assets)
ESML Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $46K | 17.97% |
| BofA Securities, Inc. | $34K | 13.21% |
| J.P. Morgan Securities LLC | $30K | 11.57% |
| Instinet, LLC | $25K | 9.82% |
| Barclays Capital Inc. | $24K | 9.25% |
| Morgan Stanley & Co. LLC | $21K | 8.23% |
| Wells Fargo Securities, LLC | $20K | 7.95% |
| Goldman Sachs & Co. LLC | $20K | 7.91% |
| Citigroup Global Markets Inc. | $19K | 7.48% |
| Cantor Fitzgerald & Co. | $17K | 6.59% |
ESML Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $210.7M | 42.67% |
| BofA Securities, Inc. | $81.7M | 16.54% |
| Citadel Securities LLC | $81.3M | 16.47% |
| RBC Capital Markets, LLC | $37.6M | 7.62% |
| Jane Street Capital, LLC | $26.0M | 5.26% |
| Virtu Americas LLC | $24.4M | 4.94% |
| Goldman Sachs & Co. LLC | $23.7M | 4.80% |
| Barclays Capital Inc. | $8.5M | 1.72% |
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.