HEWJ Fees and Costs — iShares Currency Hedged MSCI Japan ETF
Data updated: 2026-07-27
The net expense ratio is 0.49% (1.02% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $30K in broker commissions, 0.0082% of average net assets, and portfolio turnover was 15%.
HEWJ Fees and Expenses
Annual operating expenses and sales charges of HEWJ. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.53% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.02% |
| Fee waiver | −0.53% |
| Net expense ratio | 0.49% |
| 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 |
HEWJ Costs Over Time
On $10,000 invested in HEWJ, assuming 5% a year before costs, total costs come to $315 over 5 years, cutting the return by 0.52% 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 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $52 | $172 | $315 |
| Value after costs | $10,448 | $11,404 | $12,448 |
| Impact on return, per year | 0.52% | 0.52% | 0.52% |
HEWJ 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): 0.0082%
- Total broker commissions: $30K
- Bought from dealers (principal trades, not a cost): $354.5M
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $88.2M
- Net income from securities lending: $453K (0.125% of average net assets)
HEWJ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $26K | 88.48% |
| Morgan Stanley & Co. LLC | $3K | 8.69% |
| Goldman Sachs & Co. LLC | $497 | 1.67% |
| J.P. Morgan Securities LLC | $132 | 0.44% |
| UBS Securities LLC | $101 | 0.34% |
| Jefferies LLC | $64 | 0.21% |
| TD Securities (USA) LLC | $35 | 0.12% |
| BNP Paribas Securities Corp. | $16 | 0.05% |
HEWJ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $267.2M | 75.37% |
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $87.3M | 24.63% |
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.