STEN Fees and Costs — iShares Large Cap 10% Target Buffer Sep ETF
Data updated: 2026-10-13
The net expense ratio is 0.50% (0.53% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $5K in broker commissions, 0.0153% of average net assets.
STEN Fees and Expenses
Annual operating expenses and sales charges of STEN. Prospectus, as of September 15, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.53% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
STEN Costs Over Time
On $10,000 invested in STEN, assuming 5% a year before costs, total costs come to $325 over 5 years, cutting the return by 0.54% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $2 | $5 | $9 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $54 | $178 | $325 |
| Value after costs | $10,446 | $11,398 | $12,437 |
| Impact on return, per year | 0.54% | 0.54% | 0.54% |
STEN 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): 0.0153%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $9.9M
- Portfolio turnover (prospectus): —
STEN Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $4K | 80.05% |
| BOFA SECURITIES, INC. | $420 | 7.74% |
| CitiGroup Global Markets Inc. | $371 | 6.83% |
| UBS Securities LLC | $161 | 2.97% |
| J.P. Morgan Securities LLC | $76 | 1.40% |
| GOLDMAN SACHS & CO. LLC | $44 | 0.81% |
| JEFFERIES LLC | $10 | 0.18% |
| MORGAN STANLEY & CO. LLC | $1 | 0.02% |
STEN Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BLACKROCK FUNDS III - BlackRock Cash Funds: Treasury | $9.3M | 94.83% |
| BOFA SECURITIES, INC. | $509K | 5.17% |
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.