IYZ Fees and Costs — iShares U.S. Telecommunications 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 $43K in broker commissions, 0.0073% of average net assets, and portfolio turnover was 30%.
IYZ Fees and Expenses
Annual operating expenses and sales charges of IYZ. 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 |
IYZ Costs Over Time
On $10,000 invested in IYZ, assuming 5% a year before costs, total costs come to $245 over 5 years, cutting the return by 0.41% 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) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $6 | $22 |
| Total costs | $41 | $134 | $245 |
| Value after costs | $10,459 | $11,442 | $12,518 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
IYZ 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): 0.0073%
- Total broker commissions: $43K
- Bought from dealers (principal trades, not a cost): $4.9B
- Portfolio turnover (prospectus): 30%
- Securities on loan, average value: $36.8M
- Net income from securities lending: $116K (0.020% of average net assets)
IYZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $8K | 21.88% |
| Citigroup Global Markets Inc. | $6K | 17.72% |
| UBS Securities LLC | $4K | 11.04% |
| Cowen and Company, LLC | $4K | 10.33% |
| BofA Securities, Inc. | $3K | 9.45% |
| BNP Paribas Securities Corp. | $3K | 8.50% |
| Oppenheimer & Co. Inc. | $3K | 7.42% |
| Jefferies LLC | $2K | 5.08% |
| Morgan Stanley & Co. LLC | $2K | 4.50% |
| Instinet, LLC | $1K | 4.09% |
IYZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $1.9B | 38.49% |
| RBC Capital Markets, LLC | $868.8M | 17.86% |
| Citadel Securities LLC | $519.1M | 10.67% |
| Jane Street Capital, LLC | $344.1M | 7.07% |
| BNP Paribas Securities Corp. | $263.9M | 5.42% |
| Goldman Sachs & Co. LLC | $259.2M | 5.33% |
| Wells Fargo Securities, LLC | $231.6M | 4.76% |
| ABN Amro Securities (USA) LLC | $213.4M | 4.39% |
| Morgan Stanley & Co. LLC | $154.8M | 3.18% |
| Virtu Americas LLC | $137.5M | 2.83% |
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.