IWL Fees and Costs — iShares Russell Top 200 ETF
Data updated: 2026-08-27
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 5%.
IWL Fees and Expenses
Annual operating expenses and sales charges of IWL. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| 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 |
IWL Costs Over Time
On $10,000 invested in IWL, assuming 5% a year before costs, total costs come to $96 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $52 | $96 |
| Value after costs | $10,484 | $11,524 | $12,667 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
IWL 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): 0.0002%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $64.7M
- Portfolio turnover (prospectus): 5%
- Securities on loan, average value: $3.9M
- Net income from securities lending: $5K (0.000% of average net assets)
IWL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNP PARIBAS SECURITIES CORP. | $556 | 18.16% |
| UBS SECURITIES LLC | $529 | 17.28% |
| BARCLAYS CAPITAL, INC. | $410 | 13.39% |
| WELLS FARGO SECURITIES, LLC | $368 | 12.02% |
| J.P. Morgan Securities LLC | $337 | 11.01% |
| CitiGroup Global Markets Inc. | $304 | 9.93% |
| OPPENHEIMER & CO. INC. | $190 | 6.21% |
| MORGAN STANLEY & CO. LLC | $134 | 4.38% |
| INSTINET LLC | $132 | 4.31% |
| BOFA SECURITIES, INC. | $101 | 3.30% |
IWL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BLACKROCK FUNDS III - BlackRock Cash Funds: Treasury | $64.7M | 99.96% |
| UBS SECURITIES LLC | $8K | 0.01% |
| BARCLAYS CAPITAL, INC. | $4K | 0.01% |
| BNP PARIBAS SECURITIES CORP. | $4K | 0.01% |
| BOFA SECURITIES, INC. | $3K | 0.00% |
| CitiGroup Global Markets Inc. | $3K | 0.00% |
| GOLDMAN SACHS & CO. LLC | $1K | 0.00% |
| J.P. Morgan Securities LLC | $882 | 0.00% |
| MORGAN STANLEY & CO. LLC | $346 | 0.00% |
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.