TOPT Fees and Costs — iShares Top 20 U.S. Stocks ETF
Data updated: 2026-08-25
The net expense ratio is 0.20%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $4K in broker commissions, 0.0013% of average net assets, and portfolio turnover was 18%.
TOPT Fees and Expenses
Annual operating expenses and sales charges of TOPT. Prospectus, as of March 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 | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
TOPT Costs Over Time
On $10,000 invested in TOPT, assuming 5% a year before costs, total costs come to $128 over 5 years, cutting the return by 0.21% 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) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $21 | $70 | $128 |
| Value after costs | $10,479 | $11,506 | $12,635 |
| Impact on return, per year | 0.21% | 0.21% | 0.21% |
TOPT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0013%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $433.7M
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $3.4M
- Net income from securities lending: $3K (0.001% of average net assets)
TOPT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $1K | 30.39% |
| J.P. Morgan Securities LLC | $940 | 22.03% |
| Pershing LLC | $509 | 11.94% |
| Barclays Capital, Inc. | $368 | 8.62% |
| BofA Securities, Inc. | $317 | 7.44% |
| UBS Securities LLC | $308 | 7.22% |
| BNP Paribas Securities Corp. | $187 | 4.37% |
| Morgan Stanley & Co. LLC | $178 | 4.17% |
| Jefferies LLC | $94 | 2.20% |
| Cantor Fitzgerald & Co. | $69 | 1.62% |
TOPT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corp. | $419.5M | 96.72% |
| BlackRock Liquidity Funds T-Fund | $14.2M | 3.27% |
| J.P. Morgan Securities LLC | $477 | 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.