VLUE Fees and Costs — iShares MSCI USA Value Factor ETF
Data updated: 2026-10-13
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $562K in broker commissions, 0.0058% of average net assets, and portfolio turnover was 30%.
VLUE Fees and Expenses
Annual operating expenses and sales charges of VLUE. Prospectus, as of July 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
VLUE Costs Over Time
On $10,000 invested in VLUE, assuming 5% a year before costs, total costs come to $99 over 5 years, cutting the return by 0.16% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $3 | $9 |
| Total costs | $16 | $54 | $99 |
| Value after costs | $10,484 | $11,522 | $12,664 |
| Impact on return, per year | 0.16% | 0.16% | 0.16% |
VLUE 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): 0.0058%
- Total broker commissions: $562K
- Bought from dealers (principal trades, not a cost): $19.5B
- Portfolio turnover (prospectus): 30%
VLUE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $109K | 24.46% |
| J.P. Morgan Securities LLC | $59K | 13.20% |
| Citigroup Global Markets Inc. | $49K | 11.13% |
| Cowen and Company, LLC | $48K | 10.83% |
| Barclays Capital Inc. | $40K | 8.90% |
| UBS Securities LLC | $38K | 8.47% |
| Goldman Sachs & Co. LLC | $36K | 8.12% |
| Morgan Stanley & Co. LLC | $25K | 5.68% |
| Jefferies LLC | $22K | 4.89% |
| Oppenheimer & Co. Inc. | $19K | 4.32% |
VLUE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Citigroup Global Markets Inc. | $6.6B | 33.93% |
| BNY Mellon Capital Markets, LLC | $3.8B | 19.76% |
| BofA Securities, Inc. | $3.6B | 18.68% |
| Jane Street Capital, LLC | $1.8B | 9.48% |
| RBC Capital Markets, LLC | $1.1B | 5.51% |
| Virtu Americas LLC | $647.1M | 3.35% |
| Citadel Securities LLC | $563.6M | 2.92% |
| ABN Amro Securities (USA) LLC | $540.7M | 2.80% |
| Goldman Sachs & Co. LLC | $438.2M | 2.27% |
| J.P. Morgan Securities LLC | $252.4M | 1.31% |
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.