USCL Fees and Costs — iShares Climate Conscious & Transition MSCI USA ETF
Data updated: 2026-07-27
The net expense ratio is 0.08%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 12%.
USCL Fees and Expenses
Annual operating expenses and sales charges of USCL. Prospectus, as of August 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.08% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.08% |
| Fee waiver | — |
| Net expense ratio | 0.08% |
| 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 |
USCL Costs Over Time
On $10,000 invested in USCL, assuming 5% a year before costs, total costs come to $51 over 5 years, cutting the return by 0.08% 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 0.08%) | $8 | $26 | $46 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $1 | $5 |
| Total costs | $8 | $28 | $51 |
| Value after costs | $10,492 | $11,548 | $12,711 |
| Impact on return, per year | 0.08% | 0.08% | 0.08% |
USCL Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0006%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $1.6B
- Portfolio turnover (prospectus): 12%
- Securities on loan, average value: $310.4M
- Net income from securities lending: $28K (0.001% of average net assets)
USCL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $3K | 24.19% |
| Morgan Stanley & Co. LLC | $2K | 16.40% |
| J.P. Morgan Securities LLC | $2K | 15.59% |
| BofA Securities, Inc. | $2K | 12.93% |
| Instinet, LLC | $1K | 9.91% |
| Citigroup Global Markets Inc. | $926 | 6.95% |
| Barclays Capital Inc. | $553 | 4.15% |
| Cowen and Company, LLC | $489 | 3.66% |
| RBC Capital Markets, LLC | $441 | 3.30% |
| Goldman Sachs & Co. LLC | $389 | 2.92% |
USCL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $409.0M | 25.39% |
| Jane Street Capital, LLC | $385.2M | 23.91% |
| Goldman Sachs & Co. LLC | $339.6M | 21.08% |
| Citigroup Global Markets Inc. | $244.8M | 15.19% |
| BofA Securities, Inc. | $119.6M | 7.42% |
| BlackRock Funds III - BlackRock Cash Funds: Treasury | $100.6M | 6.24% |
| Virtu Americas LLC | $6.8M | 0.42% |
| Citadel Securities LLC | $5.4M | 0.33% |
| Morgan Stanley & Co. LLC | $5K | 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.