SMLF Fees and Costs — iShares U.S. Small-Cap Equity 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 $352K in broker commissions, 0.0113% of average net assets, and portfolio turnover was 24%.
SMLF Fees and Expenses
Annual operating expenses and sales charges of SMLF. 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 | — |
SMLF Costs Over Time
On $10,000 invested in SMLF, assuming 5% a year before costs, total costs come to $103 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 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $17 | $56 | $103 |
| Value after costs | $10,483 | $11,520 | $12,660 |
| Impact on return, per year | 0.17% | 0.17% | 0.17% |
SMLF 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): 0.0113%
- Total broker commissions: $352K
- Bought from dealers (principal trades, not a cost): $2.5B
- Portfolio turnover (prospectus): 24%
SMLF Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $41K | 14.00% |
| Pershing LLC | $35K | 11.83% |
| Goldman Sachs & Co. LLC | $34K | 11.58% |
| RBC Capital Markets, LLC | $33K | 11.33% |
| Citigroup Global Markets Inc. | $30K | 10.32% |
| BofA Securities, Inc. | $29K | 9.94% |
| J.P. Morgan Securities LLC | $27K | 9.09% |
| Jefferies LLC | $24K | 8.12% |
| UBS Securities LLC | $24K | 8.09% |
| Cantor Fitzgerald & Co. | $17K | 5.70% |
SMLF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corp. | $2.1B | 85.37% |
| BlackRock Liquidity Funds T-Fund | $359.9M | 14.58% |
| J.P. Morgan Securities LLC | $724K | 0.03% |
| Citadel Securities LLC | $131K | 0.01% |
| RBC Capital Markets, LLC | $98K | 0.00% |
| BofA Securities, Inc. | $87K | 0.00% |
| Morgan Stanley & Co. LLC | $59K | 0.00% |
| Jane Street Capital, LLC | $46K | 0.00% |
| Virtu Americas LLC | $46K | 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.