HEWG Fees and Costs — iShares Currency Hedged MSCI Germany ETF
Data updated: 2024-07-26
The net expense ratio is 0.53% (1.03% before fee waivers). There are no sales loads or redemption fees. In fiscal 2023 the fund paid $6K in broker commissions, 0.0158% of average net assets, and portfolio turnover was 18%.
HEWG Fees and Expenses
Annual operating expenses and sales charges of HEWG. Prospectus, as of December 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.03% |
| Fee waiver | −0.50% |
| Net expense ratio | 0.53% |
| 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 |
HEWG Costs Over Time
On $10,000 invested in HEWG, assuming 5% a year before costs, total costs come to $345 over 5 years, cutting the return by 0.57% 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 0.53%) | $56 | $174 | $304 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $57 | $189 | $345 |
| Value after costs | $10,443 | $11,388 | $12,418 |
| Impact on return, per year | 0.57% | 0.57% | 0.57% |
HEWG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0158%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $326.5M
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $5.4M
- Net income from securities lending: $176K (0.483% of average net assets)
HEWG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $3K | 51.84% |
| Goldman Sachs & Co. LLC | $1K | 22.30% |
| BNP Paribas Securities Corp. | $315 | 5.54% |
| Barclays Capital Inc. | $303 | 5.32% |
| Cowen and Company, LLC | $177 | 3.11% |
| Morgan Stanley & Co. LLC | $174 | 3.06% |
| Credit Suisse Securities (USA) LLC | $151 | 2.65% |
| Jefferies LLC | $142 | 2.49% |
| UBS Securities LLC | $107 | 1.88% |
| Citigroup Global Markets Inc. | $103 | 1.81% |
HEWG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $320.9M | 98.27% |
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $5.7M | 1.73% |
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.