FALN Fees and Costs — iShares Fallen Angels USD Bond ETF
Data updated: 2026-09-25
The net expense ratio is 0.25%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $174 in broker commissions, and portfolio turnover was 26%.
FALN Fees and Expenses
Annual operating expenses and sales charges of FALN. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.25% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.25% |
| Fee waiver | — |
| Net expense ratio | 0.25% |
| 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 |
FALN Costs Over Time
On $10,000 invested in FALN, assuming 5% a year before costs, total costs come to $159 over 5 years, cutting the return by 0.26% 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 0.25%) | $26 | $83 | $144 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $26 | $87 | $159 |
| Value after costs | $10,474 | $11,490 | $12,604 |
| Impact on return, per year | 0.26% | 0.26% | 0.26% |
FALN Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: $174
- Bought from dealers (principal trades, not a cost): $3.7B
- Portfolio turnover (prospectus): 26%
- Securities on loan, average value: $322.8M
- Net income from securities lending: $2.0M (0.108% of average net assets)
FALN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD Securities (USA) LLC | $174 | 100.00% |
FALN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $1.2B | 37.05% |
| National Securities Clearing Corporation | $1.2B | 35.78% |
| Jane Street Capital, LLC | $224.1M | 6.79% |
| J.P. Morgan Securities LLC | $221.1M | 6.70% |
| Goldman Sachs & Co. LLC | $171.7M | 5.21% |
| Morgan Stanley & Co. LLC | $104.5M | 3.17% |
| BofA Securities, Inc. | $47.4M | 1.44% |
| SumRidge Partners, LLC | $46.9M | 1.42% |
| Barclays Capital Inc. | $46.9M | 1.42% |
| Seaport Global Securities LLC | $33.8M | 1.03% |
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.