REZ Fees and Costs — iShares Residential and Multisector Real Estate ETF
Data updated: 2026-08-27
The net expense ratio is 0.48%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $23K in broker commissions, 0.0029% of average net assets, and portfolio turnover was 13%.
REZ Fees and Expenses
Annual operating expenses and sales charges of REZ. Prospectus, as of March 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.48% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.48% |
| Fee waiver | — |
| Net expense ratio | 0.48% |
| 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 |
REZ Costs Over Time
On $10,000 invested in REZ, assuming 5% a year before costs, total costs come to $305 over 5 years, cutting the return by 0.51% 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 0.48%) | $50 | $158 | $276 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $167 | $305 |
| Value after costs | $10,449 | $11,409 | $12,458 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
REZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0029%
- Total broker commissions: $23K
- Bought from dealers (principal trades, not a cost): $71.0M
- Portfolio turnover (prospectus): 13%
- Securities on loan, average value: $31.6M
- Net income from securities lending: $7K (0.001% of average net assets)
REZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS SECURITIES LLC | $4K | 18.39% |
| BTIG, LLC | $3K | 13.79% |
| BNP PARIBAS SECURITIES CORP. | $2K | 11.46% |
| JEFFERIES LLC | $2K | 11.43% |
| BOFA SECURITIES, INC. | $2K | 10.12% |
| RBC CAPITAL MARKETS, LLC | $2K | 8.50% |
| MORGAN STANLEY & CO. LLC | $2K | 7.81% |
| CitiGroup Global Markets Inc. | $1K | 6.72% |
| WELLS FARGO SECURITIES, LLC | $1K | 6.44% |
| BARCLAYS CAPITAL, INC. | $1K | 5.34% |
REZ Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BLACKROCK FUNDS III - BlackRock Cash Funds: Treasury | $71.0M | 100.00% |
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.