BasisRoute my position

Aperio (BlackRock)

Tax-Managed Equity SMA

Open

Claim this listingManager's website
Assets
$175B
Fee a year
0.40%
Minimum
Not disclosed
Tracking error
Not disclosed
Accounts
33,000
Open to
Anyone
Lock-up
None
Holdings
Not disclosed
Benchmark
Not disclosed
Custodians
Not disclosed
Access
Through an advisor, on advisor platforms
Launched
Not disclosed
Assets, in detail
As of 2026-09. BlackRock CFO, Q3 2026 earnings call (2026-10-14): long-only direct indexing AUM is $175B, with about $13B of net inflows in 2026 to date. Earlier: $149B and 33K accounts (2025-12-31, BlackRock Aperio page). Aperio's Form ADV Part 2A (2026-03-31) gives $152.1B regulatory AUM in 33,901 accounts at 2025-12-31, for all Aperio client assets.
Fee schedule
Aperio's Form ADV Part 2A (2026-03-31) says wrap program fees paid to Aperio range up to 0.40%, by product. The standard fee table in the brochure is an image, and the product page does not list fees.
Tracking error, method
Not disclosed.
Loss harvesting
BlackRock: about $3B gross losses harvested in 2025 across all Aperio tax-managed accounts.

Assets over time

$0$50B$100B$150B$200B2024-122026-092024-12: $111B. Aperio direct indexing assets (Cerulli)2025-12: $149B. Aperio AUM, BlackRock page2026-09: $175B. Aperio long-only direct indexing AUM, BlackRock Q3 2026 call$175B

Sources

Checked 2026-10. Confidence: high.

Where to get it

The same product costs a different amount through each door. The all-in fee adds the access provider's own fee to the product fee. Placement fees, financing, and fund expenses are extra.

No access provider in our data names this product yet.

Other direct indexing