LPHRX Fees and Costs — BlackRock LifePath Dynamic 2045 Fund, Class R
Data updated: 2026-08-25
The net expense ratio is 1.04% (1.27% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $45K in broker commissions, 0.0143% of average net assets, and portfolio turnover was 21%.
LPHRX Fees and Expenses
Annual operating expenses and sales charges of LPHRX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.50% |
| Other expenses | 0.25% |
| Gross expense ratio | 1.27% |
| Fee waiver | −0.23% |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
LPHRX Costs Over Time
On $10,000 invested in LPHRX, assuming 5% a year before costs, total costs come to $659 over 5 years, cutting the return by 1.11% 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 1.04%) | $109 | $341 | $590 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $111 | $362 | $659 |
| Value after costs | $10,389 | $11,214 | $12,104 |
| Impact on return, per year | 1.11% | 1.11% | 1.11% |
LPHRX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0143%
- Total broker commissions: $45K
- Bought from dealers (principal trades, not a cost): $414.9M
- Portfolio turnover (prospectus): 21%
- Securities on loan, average value: $15.7M
- Net income from securities lending: $50K (0.016% of average net assets)
LPHRX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $32K | 70.74% |
| BofA Securities, Inc. | $7K | 15.51% |
| Goldman Sachs & Co. LLC | $5K | 10.54% |
| Citigroup Global Markets Inc. | $1K | 2.26% |
| Barclays Capital Inc. | $432 | 0.95% |
LPHRX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $414.9M | 100.00% |
BlackRock LifePath Dynamic 2045 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LPHKX | Class K | 0.34% | — |
| LPHIX | Institutional Class | 0.59% | none |
| LPHAX | Investor A | 0.84% | 5.25% |
| LPHRX | Class R | 1.04% | none |
| LPHCX | Investor C | 1.59% | none |
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.