LQDW Fees and Costs — iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
Data updated: 2026-09-25
The net expense ratio is 0.34%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $640K in broker commissions, 0.2714% of average net assets, and portfolio turnover was 1%.
LQDW Fees and Expenses
Annual operating expenses and sales charges of LQDW. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.34% |
| Fee waiver | — |
| Net expense ratio | 0.34% |
| 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 |
LQDW Costs Over Time
On $10,000 invested in LQDW, assuming 5% a year before costs, total costs come to $385 over 5 years, cutting the return by 0.64% 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 0.34%) | $36 | $112 | $195 |
| Trading costs (broker commissions) | $28 | $89 | $155 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $211 | $385 |
| Value after costs | $10,436 | $11,365 | $12,377 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
LQDW 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): 0.2714%
- Total broker commissions: $640K
- Bought from dealers (principal trades, not a cost): $293.8M
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
LQDW Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $578K | 90.25% |
| Morgan Stanley & Co. LLC | $62K | 9.67% |
| Citigroup Global Markets Inc. | $492 | 0.08% |
| Goldman Sachs & Co. LLC | $18 | 0.00% |
LQDW Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $185.6M | 63.19% |
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $108.2M | 36.81% |
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.