TFFXX Fees and Costs — BlackRock Select Treasury Based Liquidity Fund, Institutional Class
Data updated: 2026-02-25
The net expense ratio is 0.17%: a 0.20% management fee plus 0.01% other expenses, less a 0.04% fee waiver. There are no sales loads or redemption fees.
TFFXX Fees and Expenses
Annual operating expenses and sales charges of TFFXX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| Gross expense ratio | 0.21% |
| Fee waiver | −0.04% |
| Net expense ratio | 0.17% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| 7-day yield | 0.01% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
TFFXX Costs Over Time
On $10,000 invested in TFFXX, assuming 5% a year before costs, total costs come to $108 over 5 years, cutting the return by 0.18% 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 0.17%) | $18 | $56 | $98 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $18 | $59 | $108 |
| Value after costs | $10,482 | $11,517 | $12,655 |
| Impact on return, per year | 0.18% | 0.18% | 0.18% |
TFFXX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $83.3B
- Portfolio turnover (prospectus): —
- Securities lending: none during the year
TFFXX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $20.8B | 28.91% |
| BofA Securities, Inc. | $14.1B | 19.57% |
| Barclays Capital, Inc. | $11.2B | 15.59% |
| Citigroup Global Markets Inc. | $7.0B | 9.74% |
| Nomura Securities International, Inc. | $4.7B | 6.52% |
| BMO Capital Markets Corp. | $4.0B | 5.56% |
| Mirae Asset Securities (USA) Inc. | $3.3B | 4.56% |
| Industrial and Commercial Bank of China Financial Services LLC | $2.3B | 3.19% |
| Deutsche Bank Securities Inc. | $2.3B | 3.18% |
| J.P. Morgan Securities LLC | $2.3B | 3.17% |
BlackRock Select Treasury Based Liquidity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TFFXX | Institutional Class | 0.17% | — |
| BECXX | Capital Class | 0.22% | — |
| TSDXX | Dollar Class | 0.42% | — |
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.