HEEM Fees and Costs — iShares Currency Hedged MSCI Emerging Markets ETF
Data updated: 2026-07-27
The net expense ratio is 0.72% (1.51% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $14K in broker commissions, 0.0085% of average net assets, and portfolio turnover was 7%.
HEEM Fees and Expenses
Annual operating expenses and sales charges of HEEM. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.78% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 1.51% |
| Fee waiver | −0.79% |
| Net expense ratio | 0.72% |
| 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 |
HEEM Costs Over Time
On $10,000 invested in HEEM, assuming 5% a year before costs, total costs come to $458 over 5 years, cutting the return by 0.76% 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 0.72%) | $76 | $237 | $411 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $76 | $251 | $458 |
| Value after costs | $10,424 | $11,325 | $12,305 |
| Impact on return, per year | 0.76% | 0.76% | 0.76% |
HEEM 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): 0.0085%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $220.9M
- Portfolio turnover (prospectus): 7%
- Securities on loan, average value: $22.9M
- Net income from securities lending: $53K (0.032% of average net assets)
HEEM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $7K | 53.44% |
| Goldman Sachs & Co. LLC | $2K | 17.20% |
| Morgan Stanley & Co. LLC | $2K | 14.82% |
| Barclays Capital Inc. | $2K | 13.80% |
| UBS Securities LLC | $103 | 0.74% |
HEEM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $107.3M | 48.59% |
| Jane Street Capital, LLC | $81.2M | 36.74% |
| BofA Securities, Inc. | $13.7M | 6.19% |
| Goldman Sachs & Co. LLC | $11.0M | 5.00% |
| Virtu Americas LLC | $6.7M | 3.01% |
| J.P. Morgan Securities LLC | $1.0M | 0.47% |
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.