SMMV Fees and Costs — iShares MSCI USA Small-Cap Min Vol Factor ETF
Data updated: 2026-10-13
The net expense ratio is 0.20%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $40K in broker commissions, 0.0135% of average net assets, and portfolio turnover was 43%.
SMMV Fees and Expenses
Annual operating expenses and sales charges of SMMV. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
SMMV Costs Over Time
On $10,000 invested in SMMV, assuming 5% a year before costs, total costs come to $136 over 5 years, cutting the return by 0.22% 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 0.20%) | $21 | $66 | $116 |
| Trading costs (broker commissions) | $1 | $4 | $8 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $22 | $74 | $136 |
| Value after costs | $10,478 | $11,502 | $12,627 |
| Impact on return, per year | 0.22% | 0.22% | 0.22% |
SMMV 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): 0.0135%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $126.7M
- Portfolio turnover (prospectus): 43%
SMMV Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $5K | 16.52% |
| Pershing LLC | $5K | 15.92% |
| Wells Fargo Securities, LLC | $5K | 14.59% |
| UBS Securities LLC | $4K | 12.80% |
| Citigroup Global Markets Inc. | $3K | 7.53% |
| Barclays Capital, Inc. | $2K | 7.35% |
| J.P. Morgan Securities LLC | $2K | 7.09% |
| Cantor Fitzgerald & Co. | $2K | 6.68% |
| Goldman Sachs & Co. LLC | $2K | 6.26% |
| BNP Paribas Securities Corp. | $2K | 5.26% |
SMMV Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corp. | $72.3M | 57.04% |
| BlackRock Liquidity Funds T-Fund | $54.4M | 42.95% |
| BNP Paribas Securities Corp. | $847 | 0.00% |
| BofA Securities, Inc. | $447 | 0.00% |
| Goldman Sachs & Co. LLC | $344 | 0.00% |
| Barclays Capital, Inc. | $339 | 0.00% |
| UBS Securities LLC | $185 | 0.00% |
| Citigroup Global Markets Inc. | $81 | 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.