MTUM Fees and Costs — iShares MSCI USA Momentum Factor ETF
Data updated: 2026-10-13
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $1.6M in broker commissions, 0.0074% of average net assets, and portfolio turnover was 116%.
MTUM Fees and Expenses
Annual operating expenses and sales charges of MTUM. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
MTUM Costs Over Time
On $10,000 invested in MTUM, assuming 5% a year before costs, total costs come to $100 over 5 years, cutting the return by 0.17% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $17 | $55 | $100 |
| Value after costs | $10,483 | $11,522 | $12,663 |
| Impact on return, per year | 0.17% | 0.17% | 0.17% |
MTUM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0074%
- Total broker commissions: $1.6M
- Bought from dealers (principal trades, not a cost): $20.9B
- Portfolio turnover (prospectus): 116%
MTUM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $245K | 17.97% |
| Citigroup Global Markets Inc. | $232K | 17.06% |
| J.P. Morgan Securities LLC | $229K | 16.85% |
| Morgan Stanley & Co. LLC | $138K | 10.17% |
| BNP Paribas Securities Corp. | $99K | 7.28% |
| Goldman Sachs & Co. LLC | $94K | 6.90% |
| Barclays Capital Inc. | $92K | 6.75% |
| Cowen and Company, LLC | $82K | 6.04% |
| Jefferies LLC | $78K | 5.76% |
| Wells Fargo Securities, LLC | $71K | 5.23% |
MTUM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $5.2B | 25.91% |
| Citigroup Global Markets Inc. | $3.0B | 15.07% |
| Morgan Stanley & Co. LLC | $2.1B | 10.42% |
| Jane Street Capital, LLC | $2.1B | 10.37% |
| ABN Amro Securities (USA) LLC | $1.8B | 9.09% |
| Virtu Americas LLC | $1.8B | 8.67% |
| Citadel Securities LLC | $1.4B | 7.14% |
| Goldman Sachs & Co. LLC | $1.2B | 5.93% |
| J.P. Morgan Securities LLC | $748.3M | 3.70% |
| RBC Capital Markets, LLC | $745.4M | 3.69% |
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.