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Trending ETFs

Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$76.88

$234 M

0.46%

$0.36

0.18%

Vitals

YTD Return

23.6%

1 yr return

37.0%

3 Yr Avg Return

11.8%

5 Yr Avg Return

21.4%

Net Assets

$234 M

Holdings in Top 10

56.9%

52 WEEK LOW AND HIGH

$76.5
$51.43
$77.45

Expenses

OPERATING FEES

Expense Ratio 0.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$76.88

$234 M

0.46%

$0.36

0.18%

IETC - Profile

Distributions

  • YTD Total Return 23.6%
  • 3 Yr Annualized Total Return 11.8%
  • 5 Yr Annualized Total Return 21.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.44%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    iShares U.S. Tech Independence Focused ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Mar 21, 2018
  • Shares Outstanding
    2300000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Travis Cooke

Fund Description

The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets in U.S. listed common stock of large-, mid- and small-capitalization technology companies, as defined by a proprietary classification system (Evolved Technology Sector), while targeting increased exposure to U.S. companies with a greater proportion of technological capabilities, revenues, and production in the U.S. and select global markets relative to the proprietary classification system. The Evolved Technology Sector classification process, which uses data analysis tools consisting, in part, of machine learning, natural language processing (NLP) and clustering algorithms to allocate companies to one or more sectors according to a proprietary classification system, is forward looking and evolves as companies evolve.
The eligible universe of securities that are part of the classification process includes U.S. listed common stock of large-, mid- and small-capitalization
companies. Based on data and information in the company’s public filings (e.g., regulatory filings, etc.), a company is classified in one or more of the twelve defined sectors (each an Evolved Sector). Currently these public filings consist of several years of a company’s 10-Ks and S-1s (if no 10-Ks are available). The Fund uses additional screens to include companies that are related to technology, technology infrastructure and technology security. The Fund's allocation rules additionally utilize proprietary data to target increased exposure to U.S. companies with a greater proportion of technological capabilities, revenues, and production in the U.S. and select global markets relative to the Evolved Technology Sector (Technology Independence Score). Select global markets alongside the U.S. are identified using a proprietary classification system which seeks to identify markets where the ability of U.S. companies to access supply chains, infrastructure, and other resources relevant to U.S. companies’ product and service delivery is expected to remain relatively more resilient to potential geopolitical headwinds. While the Fund is actively managed, the Fund generally allocates its investments to securities of its Evolved Sectors and the additional companies related to technology, technology infrastructure and technology security, on a market capitalization basis (based on the available free floating capitalization) while modifying allocations to companies based on their Technology Independence Score.
The Evolved Sector classification system allows for a company to be classified into multiple sectors rather than being assigned solely to a single
sector. For the Evolved Sectors, the market capitalization of a single company will be allocated proportionally based on the one or more Evolved Sectors in which the company is classified. This reflects the multi-dimensional nature of these companies. Evolved Sector constituents are expected to evolve dynamically over time to reflect changing business models. BFA may exercise discretion in managing the classification process in limited instances. For example, a company may be excluded (or its inclusion limited) from an Evolved Sector, in part or whole, most commonly in response to position limit restrictions, limited liquidity of a particular security or the fit of a particular company in the Fund. This is different from traditional classification systems that typically will assign a company only to one sector and tend to group companies together on the basis of backward looking metrics like revenue. The Fund will not provide the same returns as a fund that tracks the information technology sector as traditionally defined by other classification systems and as a result may not be appropriate for an investor seeking the same exposure as the information technology sector as defined by such classification systems.
As of July 31, 2023, there were twelve Evolved Sectors: Consumer Staples, Discretionary Spending, Energy, Financials, Healthcare Staples, Industrials, Innovative Healthcare, Media and Entertainment, Real Estate, Technology, Telecommunications and Utilities. Sector classifications are reviewed on a quarterly basis and may evolve over time.
The Fund will hold common stock of those companies that fall into the
Technology Evolved Sector, as well as additional companies that are related to technology, technology infrastructure and technology security, while targeting increased exposure to companies with higher Technology Independence Scores relative to the Technology Evolved Sector. Companies in the Technology Evolved Sector have economic characteristics that have been historically correlated with companies traditionally defined as technology companies. The Fund may also invest in other securities, including but not limited to, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates. The Fund is an actively managed exchange-traded fund (ETF) and does not seek to replicate the performance of a specified index and may have a higher degree of portfolio turnover than such index funds.
The Fund may lend securities representing up to one-third of the value of the Fund's total assets (including the value of the collateral received).
Industry Concentration Policy. The Fund will concentrate its investments i.e., hold 25% or more of its total assets) in an industry or group of industries that constitute the technology sector. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry. Industry concentration designations are based on output of the classification methodology referenced above.
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IETC - Performance

Return Ranking - Trailing

Period IETC Return Category Return Low Category Return High Rank in Category (%)
YTD 23.6% -22.2% 56.9% 45.25%
1 Yr 37.0% -26.5% 76.0% 38.91%
3 Yr 11.8%* -36.6% 32.2% 17.51%
5 Yr 21.4%* -11.9% 38.5% 29.44%
10 Yr N/A* 1.6% 28.6% 79.35%

* Annualized

Return Ranking - Calendar

Period IETC Return Category Return Low Category Return High Rank in Category (%)
2023 52.9% -5.6% 96.9% 33.18%
2022 -33.3% -73.9% -16.4% 14.75%
2021 28.7% -44.6% 51.5% 11.11%
2020 45.7% 5.5% 154.1% 44.06%
2019 41.6% -3.0% 63.7% 20.83%

Total Return Ranking - Trailing

Period IETC Return Category Return Low Category Return High Rank in Category (%)
YTD 23.6% -22.2% 56.9% 45.25%
1 Yr 37.0% -26.5% 76.0% 38.91%
3 Yr 11.8%* -36.6% 32.2% 17.51%
5 Yr 21.4%* -11.9% 38.5% 29.44%
10 Yr N/A* 1.6% 28.6% N/A

* Annualized

Total Return Ranking - Calendar

Period IETC Return Category Return Low Category Return High Rank in Category (%)
2023 54.4% -2.3% 96.9% 36.82%
2022 -32.8% -67.5% -5.9% 29.49%
2021 29.7% -17.8% 59.2% 17.13%
2020 46.6% 17.5% 157.5% 53.47%
2019 42.9% 7.5% 66.9% 39.06%

IETC - Holdings

Concentration Analysis

IETC Category Low Category High IETC % Rank
Net Assets 234 M 4.67 M 81.2 B 70.72%
Number of Holdings 153 10 316 4.50%
Net Assets in Top 10 135 M 1.52 M 49.3 B 67.57%
Weighting of Top 10 56.93% 11.7% 100.0% 37.39%

Top 10 Holdings

  1. Microsoft Corp. 9.92%
  2. Broadcom, Inc. 9.39%
  3. NVIDIA Corp. 8.51%
  4. Amazon.com, Inc. 8.06%
  5. Salesforce, Inc. 5.28%
  6. Accenture plc, Class A 5.19%
  7. Oracle Corp. 3.50%
  8. Apple, Inc. 2.54%
  9. Alphabet, Inc., Class A 2.30%
  10. Cisco Systems, Inc. 2.24%

Asset Allocation

Weighting Return Low Return High IETC % Rank
Stocks
99.33% 0.00% 100.11% 44.59%
Cash
0.81% 0.00% 26.97% 58.56%
Preferred Stocks
0.00% 0.00% 7.58% 45.95%
Other
0.00% -0.01% 26.87% 50.00%
Convertible Bonds
0.00% 0.00% 0.40% 32.43%
Bonds
0.00% 0.00% 89.65% 36.04%

Stock Sector Breakdown

Weighting Return Low Return High IETC % Rank
Technology
65.25% 2.80% 100.00% 68.47%
Communication Services
15.73% 0.00% 97.05% 14.86%
Financial Services
8.34% 0.00% 38.36% 13.96%
Consumer Cyclical
6.70% 0.00% 32.97% 48.20%
Industrials
2.05% 0.00% 38.68% 46.40%
Healthcare
0.95% 0.00% 25.57% 35.59%
Real Estate
0.68% 0.00% 15.05% 20.27%
Consumer Defense
0.22% 0.00% 5.64% 10.36%
Basic Materials
0.09% 0.00% 2.38% 13.51%
Utilities
0.00% 0.00% 5.17% 31.08%
Energy
0.00% 0.00% 1.24% 30.18%

Stock Geographic Breakdown

Weighting Return Low Return High IETC % Rank
US
99.33% 0.00% 100.11% 30.18%
Non US
0.00% 0.00% 59.84% 67.57%

IETC - Expenses

Operational Fees

IETC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.18% 0.08% 5.04% 98.19%
Management Fee 0.18% 0.03% 1.95% 2.25%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

IETC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

IETC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IETC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 0.69% 281.00% 3.95%

IETC - Distributions

Dividend Yield Analysis

IETC Category Low Category High IETC % Rank
Dividend Yield 0.46% 0.00% 7.82% 16.67%

Dividend Distribution Analysis

IETC Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

IETC Category Low Category High IETC % Rank
Net Income Ratio 0.44% -2.30% 2.08% 7.34%

Capital Gain Distribution Analysis

IETC Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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IETC - Fund Manager Analysis

Managers

Travis Cooke


Start Date

Tenure

Tenure Rank

Mar 21, 2018

4.2

4.2%

Travis Cooke, CFA, Managing Director, is Head of the US portfolio management group within BlackRock's Scientific Active Equity (SAE) team. He is responsible for the management of the US long-only, partial long-short, and long-short equity strategies within SAE.

Jeff Shen


Start Date

Tenure

Tenure Rank

Mar 21, 2018

4.2

4.2%

Jeff Shen, PhD, Managing Director, is Co-CIO of Active Equity and Co-Head of Systematic Active Equity (SAE) at BlackRock. He is responsible for Asia Pacific and Emerging Market Active Equity Strategies. He is BlackRock's Head of Emerging Market and a member of the Global Operating Committee. Dr. Shen's service with BlackRock dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was the Head of Investment for Asia Pacific and Emerging Market active equities. Prior to joining BGI, he began his career in 1997 with JP Morgan where he held numerous positions in global macro investment and asset allocation research in both New York and London. Dr. Shen earned a BA degree in Economics from Hobart College, a MA degree in Economics from University of Massachusetts at Amherst, and a PhD degree in Finance from New York University. Dr. Shen is an adjunct professor at NYU teaching a MBA class on international investment. He also serves on the advisory board of Clausen Center at UC Berkeley.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 32.43 8.25 1.41