PABU Fees and Costs — iShares Paris-Aligned Climate Optimized MSCI USA ETF
Data updated: 2026-07-27
The net expense ratio is 0.10%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $22K in broker commissions, 0.0011% of average net assets, and portfolio turnover was 15%.
PABU Fees and Expenses
Annual operating expenses and sales charges of PABU. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.10% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.10% |
| Fee waiver | — |
| Net expense ratio | 0.10% |
| 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 |
PABU Costs Over Time
On $10,000 invested in PABU, assuming 5% a year before costs, total costs come to $64 over 5 years, cutting the return by 0.11% 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 0.10%) | $10 | $33 | $58 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $2 | $6 |
| Total costs | $11 | $35 | $64 |
| Value after costs | $10,489 | $11,541 | $12,698 |
| Impact on return, per year | 0.11% | 0.11% | 0.11% |
PABU Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0011%
- Total broker commissions: $22K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 15%
- Securities on loan, average value: $21.7M
- Net income from securities lending: $42K (0.002% of average net assets)
PABU Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Cowen and Company, LLC | $5K | 22.81% |
| UBS Securities LLC | $3K | 14.37% |
| J.P. Morgan Securities LLC | $3K | 14.32% |
| Morgan Stanley & Co. LLC | $2K | 10.75% |
| Goldman Sachs & Co. LLC | $2K | 9.82% |
| Barclays Capital Inc. | $2K | 8.97% |
| Citigroup Global Markets Inc. | $1K | 5.87% |
| Wells Fargo Securities, LLC | $1K | 5.77% |
| BofA Securities, Inc. | $794 | 3.98% |
| RBC Capital Markets, LLC | $665 | 3.33% |
PABU Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $432.3M | 27.01% |
| UBS Securities LLC | $274.3M | 17.14% |
| BofA Securities, Inc. | $194.5M | 12.16% |
| J.P. Morgan Securities LLC | $161.2M | 10.07% |
| Jane Street Capital, LLC | $159.3M | 9.95% |
| Citadel Securities LLC | $158.2M | 9.88% |
| Virtu Americas LLC | $95.2M | 5.95% |
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $78.2M | 4.88% |
| ABN Amro Securities (USA) LLC | $25.5M | 1.59% |
| Morgan Stanley & Co. LLC | $21.8M | 1.36% |
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.