IBTL Fees and Costs — iShares iBonds Dec 2031 Term Treasury ETF
Data updated: 2026-09-25
The net expense ratio is 0.07%. There are no sales loads or redemption fees. Portfolio turnover was 32%.
IBTL Fees and Expenses
Annual operating expenses and sales charges of IBTL. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.07% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.07% |
| Fee waiver | — |
| Net expense ratio | 0.07% |
| 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 |
IBTL Costs Over Time
On $10,000 invested in IBTL, assuming 5% a year before costs, total costs come to $45 over 5 years, cutting the return by 0.07% 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 0.07%) | $7 | $23 | $41 |
| Lost growth on money paid in costs | $0 | $1 | $4 |
| Total costs | $7 | $24 | $45 |
| Value after costs | $10,493 | $11,552 | $12,718 |
| Impact on return, per year | 0.07% | 0.07% | 0.07% |
IBTL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $476.8M
- Portfolio turnover (prospectus): 32%
- Securities on loan, average value: $0
- Net income from securities lending: $128 (0.000% of average net assets)
IBTL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $110.3M | 26.65% |
| Goldman Sachs & Co. LLC | $78.7M | 19.01% |
| J.P. Morgan Securities LLC | $44.8M | 10.84% |
| National Securities Clearing Corp. | $38.8M | 9.37% |
| BlackRock Liquidity Funds T-Fund | $32.7M | 7.90% |
| Citadel Securities LLC | $28.6M | 6.92% |
| BMO Capital Markets Corp. | $23.8M | 5.74% |
| Citigroup Global Markets Inc. | $22.5M | 5.43% |
| BNP Paribas Securities Corp. | $19.0M | 4.59% |
| Barclays Capital, Inc. | $14.6M | 3.54% |
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.