MLRG Fees and Costs — iShares Morningstar U.S. Equity ETF
Data updated: 2026-09-25
The net expense ratio is 0.03%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0009% of average net assets, and portfolio turnover was 8%.
MLRG Fees and Expenses
Annual operating expenses and sales charges of MLRG. Prospectus, as of April 30, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.03% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.03% |
| Fee waiver | — |
| Net expense ratio | 0.03% |
| 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 |
MLRG Costs Over Time
On $10,000 invested in MLRG, assuming 5% a year before costs, total costs come to $20 over 5 years, cutting the return by 0.03% 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 0.03%) | $3 | $10 | $17 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $1 | $2 |
| Total costs | $3 | $11 | $20 |
| Value after costs | $10,497 | $11,566 | $12,743 |
| Impact on return, per year | 0.03% | 0.03% | 0.03% |
MLRG Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0009%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $55.3M
- Portfolio turnover (prospectus): 8%
- Securities on loan, average value: $5.7M
- Net income from securities lending: $31K (0.003% of average net assets)
MLRG Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MISCHLER FINANCIAL GROUP, INC. | $4K | 46.47% |
| CitiGroup Global Markets Inc. | $732 | 8.82% |
| UBS SECURITIES LLC | $667 | 8.04% |
| BOFA SECURITIES, INC. | $610 | 7.35% |
| MORGAN STANLEY & CO. LLC | $529 | 6.38% |
| J.P. Morgan Securities LLC | $460 | 5.54% |
| GOLDMAN SACHS & CO. LLC | $458 | 5.52% |
| BNP PARIBAS SECURITIES CORP. | $335 | 4.04% |
| OPPENHEIMER & CO. INC. | $332 | 4.00% |
| RBC CAPITAL MARKETS, LLC | $319 | 3.84% |
MLRG Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BLACKROCK FUNDS III - BlackRock Cash Funds: Treasury | $55.3M | 99.92% |
| BNP PARIBAS SECURITIES CORP. | $15K | 0.03% |
| UBS SECURITIES LLC | $9K | 0.02% |
| MORGAN STANLEY & CO. LLC | $5K | 0.01% |
| GOLDMAN SACHS & CO. LLC | $3K | 0.01% |
| BOFA SECURITIES, INC. | $3K | 0.01% |
| BARCLAYS CAPITAL, INC. | $3K | 0.01% |
| CitiGroup Global Markets Inc. | $3K | 0.00% |
| J.P. Morgan Securities LLC | $812 | 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.