LPREX Fees and Costs — BlackRock LifePath Dynamic 2040 Fund, Investor A
Data updated: 2026-08-25
The net expense ratio is 0.84% (1.07% before fee waivers). This share class carries a maximum front-end sales load of 5.25%. In fiscal 2025 the fund paid $51K in broker commissions, 0.0104% of average net assets, and portfolio turnover was 16%.
LPREX Fees and Expenses
Annual operating expenses and sales charges of LPREX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.30% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.07% |
| Fee waiver | −0.23% |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| 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 |
LPREX Costs Over Time
On $10,000 invested in LPREX, assuming 5% a year before costs, total costs come to $1,176 over 5 years, cutting the return by 2.01% 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 |
| Sales charges | $525 | $525 | $525 |
| Fund expenses (net expense ratio 0.84%) | $84 | $261 | $454 |
| Trading costs (broker commissions) | $1 | $3 | $6 |
| Lost growth on money paid in costs | $26 | $96 | $191 |
| Total costs | $636 | $885 | $1,176 |
| Value after costs | $9,864 | $10,691 | $11,587 |
| Impact on return, per year | 6.36% | 2.75% | 2.01% |
LPREX 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): 0.0104%
- Total broker commissions: $51K
- Bought from dealers (principal trades, not a cost): $425.1M
- Portfolio turnover (prospectus): 16%
- Securities on loan, average value: $29.7M
- Net income from securities lending: $74K (0.015% of average net assets)
LPREX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $38K | 73.63% |
| BofA Securities, Inc. | $7K | 13.37% |
| Goldman Sachs & Co. LLC | $6K | 12.64% |
| Citigroup Global Markets Inc. | $178 | 0.35% |
LPREX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $424.0M | 99.74% |
| BNY Capital Markets, LLC | $1.1M | 0.26% |
BlackRock LifePath Dynamic 2040 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LPSFX | Class K | 0.34% | — |
| STLEX | Institutional Class | 0.59% | none |
| LPREX | Investor A | 0.84% | 5.25% |
| LPRKX | Class R | 1.04% | none |
| LPCKX | 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.