SIZE Fees and Costs — iShares MSCI USA Size 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 $14K in broker commissions, 0.0035% of average net assets, and portfolio turnover was 23%.
SIZE Fees and Expenses
Annual operating expenses and sales charges of SIZE. 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 | — |
SIZE Costs Over Time
On $10,000 invested in SIZE, assuming 5% a year before costs, total costs come to $98 over 5 years, cutting the return by 0.16% 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) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $2 | $9 |
| Total costs | $16 | $53 | $98 |
| Value after costs | $10,484 | $11,523 | $12,665 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
SIZE 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): 0.0035%
- Total broker commissions: $14K
- Bought from dealers (principal trades, not a cost): $73.9M
- Portfolio turnover (prospectus): 23%
SIZE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $2K | 15.64% |
| BofA Securities, Inc. | $2K | 14.69% |
| Citigroup Global Markets Inc. | $2K | 13.81% |
| UBS Securities LLC | $1K | 12.78% |
| Morgan Stanley & Co. LLC | $1K | 12.35% |
| Barclays Capital Inc. | $778 | 7.16% |
| BNP Paribas Securities Corp. | $768 | 7.06% |
| Jefferies LLC | $606 | 5.57% |
| J.P. Morgan Securities LLC | $596 | 5.48% |
| Cantor Fitzgerald & Co. | $592 | 5.44% |
SIZE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jane Street Capital, LLC | $25.3M | 34.22% |
| Goldman Sachs & Co. LLC | $24.4M | 32.96% |
| Citigroup Global Markets Inc. | $24.2M | 32.71% |
| UBS Securities LLC | $33K | 0.04% |
| J.P. Morgan Securities LLC | $15K | 0.02% |
| Barclays Capital Inc. | $11K | 0.01% |
| BNP Paribas Securities Corp. | $10K | 0.01% |
| Morgan Stanley & Co. LLC | $7K | 0.01% |
| BofA Securities, Inc. | $3K | 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.