SHSAX Fees and Costs — BlackRock Health Sciences Opportunities Portfolio, Investor A
Data updated: 2026-09-25
The net expense ratio is 1.11%: a 0.68% management fee, a 0.25% 12b-1 fee plus 0.18% other expenses. This share class carries a maximum front-end sales load of 5.25%. In fiscal 2026 the fund paid $1.2M in broker commissions, 0.0196% of average net assets, and portfolio turnover was 49%.
SHSAX Fees and Expenses
Annual operating expenses and sales charges of SHSAX. Prospectus, as of May 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.68% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.11% |
| Fee waiver | — |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | 5.25% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
SHSAX Costs Over Time
On $10,000 invested in SHSAX, assuming 5% a year before costs, total costs come to $1,338 over 5 years, cutting the return by 2.30% 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 |
| Sales charges | $525 | $525 | $525 |
| Fund expenses (net expense ratio 1.11%) | $110 | $344 | $596 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $26 | $100 | $206 |
| Total costs | $664 | $975 | $1,338 |
| Value after costs | $9,836 | $10,601 | $11,425 |
| Impact on return, per year | 6.64% | 3.04% | 2.30% |
SHSAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0196%
- Total broker commissions: $1.2M
- Bought from dealers (principal trades, not a cost): $4.5B
- Portfolio turnover (prospectus): 49%
- Securities on loan, average value: $50.7M
- Net income from securities lending: $604K (0.010% of average net assets)
SHSAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $176K | 16.04% |
| GOLDMAN SACHS & CO. LLC | $168K | 15.29% |
| BARCLAYS CAPITAL, INC. | $161K | 14.67% |
| BOFA SECURITIES, INC. | $157K | 14.29% |
| UBS Securities LLC | $116K | 10.58% |
| CITIGROUP GLOBAL MARKETS INC. | $109K | 9.87% |
| JEFFERIES LLC | $76K | 6.95% |
| J.P. Morgan Securities LLC | $64K | 5.78% |
| MIZUHO SECURITIES USA LLC | $37K | 3.34% |
| RBC CAPITAL MARKETS, LLC | $35K | 3.19% |
SHSAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BlackRock Liquidity Funds T-Fund | $4.3B | 95.39% |
| GOLDMAN SACHS & CO. LLC | $62.0M | 1.38% |
| J.P. Morgan Securities LLC | $56.8M | 1.27% |
| SVB Leerink LLC | $32.2M | 0.72% |
| JEFFERIES LLC | $26.4M | 0.59% |
| Direct Access Partners LLC | $17.6M | 0.39% |
| BARCLAYS CAPITAL, INC. | $5.4M | 0.12% |
| MORGAN STANLEY & CO. LLC | $5.0M | 0.11% |
| BOFA SECURITIES, INC. | $1.6M | 0.04% |
BlackRock Health Sciences Opportunities Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000172900 | Class K | 0.76% | — |
| SHSSX | Institutional Class | 0.86% | none |
| SHSAX | Investor A | 1.11% | 5.25% |
| SHISX | Service Class | 1.16% | — |
| C000037661 | Class R | 1.47% | none |
| SHSCX | Investor C | 1.90% | none |
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.