FM Fees and Costs — iShares Frontier and Select EM ETF
Data updated: 2025-01-24
The net expense ratio is 0.20% (0.89% before fee waivers). There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1.8M in broker commissions, 0.4093% of average net assets, and portfolio turnover was 29%.
FM Fees and Expenses
Annual operating expenses and sales charges of FM. Prospectus, as of December 31, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.79% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.89% |
| Fee waiver | −0.69% |
| Net expense ratio | 0.20% |
| 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 |
FM Costs Over Time
On $10,000 invested in FM, assuming 5% a year before costs, total costs come to $384 over 5 years, cutting the return by 0.64% 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 0.20%) | $21 | $66 | $115 |
| Trading costs (broker commissions) | $43 | $135 | $234 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $210 | $384 |
| Value after costs | $10,436 | $11,366 | $12,379 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
FM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.4093%
- Total broker commissions: $1.8M
- Bought from dealers (principal trades, not a cost): $845.7M
- Portfolio turnover (prospectus): 29%
- Securities on loan, average value: $1.4M
- Net income from securities lending: $4K (0.001% of average net assets)
FM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cong Ty Co Phan Chung Khoan Bao Viet | $510K | 28.01% |
| HSBC Securities (USA) Inc. | $481K | 26.42% |
| BofA Securities, Inc. | $404K | 22.19% |
| CLSA Americas, LLC | $160K | 8.81% |
| HSC Financial Services LLC | $114K | 6.27% |
| State Street Bank and Trust Company | $47K | 2.58% |
| Jefferies LLC | $44K | 2.43% |
| Citigroup Global Markets Inc. | $39K | 2.16% |
| SG Americas Securities, LLC | $12K | 0.66% |
| Eurobank Ergasias Services and Holdings S.A. | $8K | 0.46% |
FM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $776.8M | 91.98% |
| BofA Securities, Inc. | $67.8M | 8.02% |
| CLSA Americas, LLC | $2 | 0.00% |
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.