IAT Fees and Costs — iShares U.S. Regional Banks ETF
Data updated: 2026-08-24
The net expense ratio is 0.38%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $15K in broker commissions, 0.0024% of average net assets, and portfolio turnover was 8%.
IAT Fees and Expenses
Annual operating expenses and sales charges of IAT. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.38% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.38% |
| Fee waiver | — |
| Net expense ratio | 0.38% |
| 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 |
IAT Costs Over Time
On $10,000 invested in IAT, assuming 5% a year before costs, total costs come to $242 over 5 years, cutting the return by 0.40% 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 0.38%) | $40 | $125 | $219 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $40 | $132 | $242 |
| Value after costs | $10,460 | $11,444 | $12,521 |
| Impact on return, per year | 0.40% | 0.40% | 0.40% |
IAT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0024%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $795.2M
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $3.1M
- Net income from securities lending: $5K (0.001% of average net assets)
IAT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3K | 28.16% |
| UBS Securities LLC | $2K | 13.02% |
| Muriel Siebert & Co., Inc. | $1K | 9.68% |
| Jefferies LLC | $1K | 9.04% |
| Oppenheimer & Co. Inc. | $1K | 8.63% |
| Citigroup Global Markets Inc. | $1K | 8.39% |
| Barclays Capital Inc. | $805 | 6.57% |
| BTIG, LLC. | $730 | 5.96% |
| Morgan Stanley & Co. LLC | $681 | 5.57% |
| Wells Fargo Securities, LLC | $609 | 4.97% |
IAT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| RBC Capital Markets, LLC | $190.2M | 23.91% |
| BofA Securities, Inc. | $134.2M | 16.88% |
| Citadel Securities LLC | $98.7M | 12.41% |
| Virtu Americas LLC | $91.2M | 11.46% |
| Jane Street Capital, LLC | $68.7M | 8.63% |
| Citigroup Global Markets Inc. | $54.8M | 6.89% |
| ABN Amro Securities (USA) LLC | $47.9M | 6.02% |
| BNP Paribas Securities Corp. | $44.0M | 5.54% |
| Goldman Sachs & Co. LLC | $36.4M | 4.58% |
| Morgan Stanley & Co. LLC | $29.2M | 3.68% |
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.