HEFA Fees and Costs — iShares Currency Hedged MSCI EAFE ETF
Data updated: 2026-10-13
The net expense ratio is 0.35% (0.70% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $276K in broker commissions, 0.0040% of average net assets, and portfolio turnover was 14%.
HEFA Fees and Expenses
Annual operating expenses and sales charges of HEFA. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.70% |
| Fee waiver | −0.35% |
| Net expense ratio | 0.35% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
HEFA Costs Over Time
On $10,000 invested in HEFA, assuming 5% a year before costs, total costs come to $224 over 5 years, cutting the return by 0.37% 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 0.35%) | $37 | $115 | $202 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $123 | $224 |
| Value after costs | $10,463 | $11,454 | $12,539 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
HEFA Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0040%
- Total broker commissions: $276K
- Bought from dealers (principal trades, not a cost): $3.2B
- Portfolio turnover (prospectus): 14%
HEFA Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citadel Securities LLC | $168K | 60.98% |
| Jane Street Capital, LLC | $50K | 17.99% |
| BofA Securities, Inc. | $45K | 16.44% |
| UBS Securities LLC | $8K | 3.05% |
| BNP Paribas Securities Corp. | $3K | 0.92% |
| Cowen and Company, LLC | $639 | 0.23% |
| Morgan Stanley & Co. LLC | $610 | 0.22% |
| Citigroup Global Markets Inc. | $187 | 0.07% |
| TD Securities (USA) LLC | $160 | 0.06% |
| J.P. Morgan Securities LLC | $93 | 0.03% |
HEFA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $1.1B | 35.55% |
| Jane Street Capital, LLC | $744.3M | 23.45% |
| National Securities Clearing Corporation | $562.7M | 17.73% |
| BofA Securities, Inc. | $344.0M | 10.84% |
| Goldman Sachs & Co. LLC | $277.0M | 8.73% |
| Virtu Americas LLC | $113.0M | 3.56% |
| Morgan Stanley & Co. LLC | $4.3M | 0.14% |
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.