GOVT Fees and Costs — iShares U.S. Treasury Bond ETF
Data updated: 2026-09-25
The net expense ratio is 0.05%. There are no sales loads or redemption fees. Portfolio turnover was 25%.
GOVT Fees and Expenses
Annual operating expenses and sales charges of GOVT. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.05% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.05% |
| Fee waiver | — |
| Net expense ratio | 0.05% |
| 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 |
GOVT Costs Over Time
On $10,000 invested in GOVT, assuming 5% a year before costs, total costs come to $32 over 5 years, cutting the return by 0.05% 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 0.05%) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $1 | $3 |
| Total costs | $5 | $17 | $32 |
| Value after costs | $10,495 | $11,559 | $12,731 |
| Impact on return, per year | 0.05% | 0.05% | 0.05% |
GOVT 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: —
- Bought from dealers (principal trades, not a cost): $34.8B
- Portfolio turnover (prospectus): 25%
- Securities on loan, average value: $35.2M
- Net income from securities lending: $100K (0.000% of average net assets)
GOVT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $7.6B | 24.40% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $6.0B | 19.11% |
| Goldman Sachs & Co. LLC | $5.4B | 17.41% |
| BlackRock Liquidity Funds T-Fund | $3.3B | 10.59% |
| RBC Capital Markets, LLC | $2.0B | 6.44% |
| Citadel Securities LLC | $1.9B | 5.94% |
| Morgan Stanley & Co. LLC | $1.5B | 4.84% |
| BMO Capital Markets Corp. | $1.5B | 4.77% |
| Daiwa Capital Markets America Inc. | $1.1B | 3.64% |
| Wells Fargo Securities, LLC | $890.6M | 2.85% |
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.