USBF Fees and Costs — iShares USD Systematic Bond ETF
Data updated: 2024-07-24
The net expense ratio is 0.18% (0.19% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 380%.
USBF Fees and Expenses
Annual operating expenses and sales charges of USBF. Prospectus, as of June 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.18% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.19% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.18% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
USBF Costs Over Time
On $10,000 invested in USBF, assuming 5% a year before costs, total costs come to $114 over 5 years, cutting the return by 0.19% 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 0.18%) | $19 | $59 | $104 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $62 | $114 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
USBF Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending February 29, 2024.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $97.8M
- Portfolio turnover (prospectus): 380%
- Securities on loan, average value: $55K
- Net income from securities lending: $607 (0.005% of average net assets)
USBF Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $19.1M | 20.93% |
| Citigroup Global Markets Inc. | $18.2M | 19.97% |
| Goldman Sachs & Co. LLC | $13.5M | 14.74% |
| BofA Securities, Inc. | $11.6M | 12.68% |
| BlackRock Funds III - BlackRock Cash Funds: Institutional | $8.3M | 9.10% |
| J.P. Morgan Securities LLC | $7.3M | 8.01% |
| Wells Fargo Securities, LLC | $7.1M | 7.78% |
| Barclays Capital Inc. | $3.1M | 3.34% |
| BNP Paribas Securities Corp. | $1.6M | 1.80% |
| Mizuho Securities USA LLC | $1.5M | 1.64% |
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.