TEND Fees and Costs — iShares Large Cap 10% Target Buffer Dec 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 $25K in broker commissions, 0.0309% of average net assets.
TEND Fees and Expenses
Annual operating expenses and sales charges of TEND. Prospectus, as of September 30, 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 | — |
TEND Costs Over Time
On $10,000 invested in TEND, assuming 5% a year before costs, total costs come to $335 over 5 years, cutting the return by 0.56% 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) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $0 | $9 | $31 |
| Total costs | $56 | $183 | $335 |
| Value after costs | $10,444 | $11,393 | $12,428 |
| Impact on return, per year | 0.56% | 0.56% | 0.56% |
TEND 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): 0.0309%
- Total broker commissions: $25K
- Bought from dealers (principal trades, not a cost): $18.1M
- Portfolio turnover (prospectus): —
TEND Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $17K | 67.25% |
| SUSQUEHANNA FINANCIAL GROUP, LLLP | $4K | 15.28% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 9.81% |
| BOFA SECURITIES, INC. | $1K | 5.41% |
| UBS Securities LLC | $325 | 1.30% |
| J.P. MORGAN SECURITIES LLC | $111 | 0.44% |
| GOLDMAN SACHS & CO. LLC | $56 | 0.22% |
| MORGAN STANLEY & CO. LLC | $41 | 0.16% |
| BNP Paribas Securities Corp. | $31 | 0.12% |
| BARCLAYS CAPITAL, INC. | $1 | 0.00% |
TEND Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BLACKROCK FUNDS III - BlackRock Cash Funds: Treasury | $17.3M | 95.75% |
| BOFA SECURITIES, INC. | $611K | 3.38% |
| GOLDMAN SACHS & CO. LLC | $158K | 0.87% |
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.