IAI — iShares U.S. Broker-Dealers & Securities Exchanges ETF
Financial Ranked #351 of 458 tracked ETFs · Issued by iShares
IAI Price Performance — Growth of $10,000
Value of a $10,000 investment in IAI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
IAI Drawdown
The "underwater" chart: IAI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in IAI?
See what a lump sum in IAI would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
Issued by iShares, the iShares U.S. Broker-Dealers & Securities Exchanges ETF is a Financial category fund with $1.41 billion in assets. It holds an overall rank of #351 out of 458 tracked ETFs and sits at #7 of 9 within its specific category. The fund carries a C grade with a score of 52.7 out of 100, reflecting a 0.37% expense ratio that exceeds the category median of 0.35%. Income generation is modest, with a 1.05% dividend yield that trails the category median of 1.65%. The portfolio is concentrated, with the top 10 holdings representing 76.2% of assets and Goldman Sachs comprising the largest single position at 20.6%.
The fund was upgraded from a D to a C grade on 2026-08-21, though price history data is available for only 3.0 years. Short-term momentum has accelerated, with the one-month return of +5.03% leading to a nine percent gain over three months. This trend extended into the longer term, resulting in a 14.31% one-year return that outperformed the category median of 11.21%. Over a three-year horizon, the fund posted a substantial 114.75% return. At $196.46, the price sits at 96.0% of its 52-week range, indicating it is near the top of its recent trading band.
With a beta of 1.14, the fund has moved more than the broader market over the recorded period. Annualized volatility of 20.52% is classified as Moderate, contributing to a maximum drawdown of -23.14%. The Sharpe ratio of 0.45 suggests the risk-adjusted returns have been relatively modest. Liquidity presents a constraint, with an average daily volume of 78,430 shares and a wide bid-ask spread of 2.19%. These metrics collectively describe a fund that has experienced significant price swings and trading costs relative to its peers.
AI-generated summary based on the data on this page.
IAI Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | THE GOLDMAN SACHS GROUP, INC. | 20.57% | $274M |
| 2 | MORGAN STANLEY | 17.27% | $230M |
| 3 | THE CHARLES SCHWAB CORPORATION | 8.61% | $115M |
| 4 | ROBINHOOD MARKETS, INC. | 5.31% | $71M |
| 5 | MOODY'S CORPORATION | 4.60% | $61M |
| 6 | S&P GLOBAL INC. | 4.37% | $58M |
| 7 | INTERCONTINENTAL EXCHANGE, INC. | 4.01% | $54M |
| 8 | MSCI INC. | 3.89% | $52M |
| 9 | CME GROUP INC. | 3.83% | $51M |
| 10 | INTERACTIVE BROKERS GROUP, INC. | 3.70% | $49M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 76.2% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how IAI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With IAI
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with IAI's top 10 — IYF overlaps most, holding 4 of the same companies as IAI's top 10 (50.8% of IAI's assets).
| ETF | Name | Shared Companies | IAI Weight | Examples |
|---|---|---|---|---|
| IYF | iShares U.S. Financials ETF | 4 | 50.8% | THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY, THE CHARLES SCHWAB CORPORATION… |
| XLF | State Street Financial Select Sector SPDR ETF | 2 | 37.8% | THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY |
| VFH | Vanguard Financials Index Fund ETF Shares | 2 | 37.8% | THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY |
| KBWB | Invesco KBW Bank ETF | 2 | 37.8% | THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY |
| FNCL | Fidelity MSCI Financials Index ETF | 2 | 37.8% | THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What IAI's Fees Cost You
IAI charges an expense ratio of 0.37% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
IAI Dividend Income Estimator
IAI currently yields 1.05%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
IAI Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 2.19% and average daily volume is 78K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.41B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: IAI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
IAI Performance History
| Period | Return |
|---|---|
| 1-Day | -0.81% |
| 1-Week | +0.68% |
| 1-Month | +5.03% |
| 3-Month | +9.44% |
| 6-Month | +17.30% |
| YTD | +8.80% |
| 1-Year | +14.31% |
| 3-Year | +114.75% |
How IAI Compares to Other Financial ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #149 | B |
KBWB | Invesco KBW Bank ETF | +28.28% | 0.35% | $6.77B |
| #195 | C |
XLF | State Street Financial Select Sector SPDR ETF | +9.14% | 0.08% | $54.6B |
| #223 | C |
VFH | Vanguard Financials Index Fund ETF Shares | +9.42% | 0.09% | $14.8B |
| #255 | C |
IYF | iShares U.S. Financials ETF | +11.14% | 0.37% | $4.29B |
| #256 | C |
FNCL | Fidelity MSCI Financials Index ETF | +9.49% | 0.084% | $2.40B |
| #307 | C |
IAK | iShares U.S. Insurance ETF | +11.21% | 0.37% | $511M |
| #351 | C |
IAI | iShares U.S. Broker-Dealers & Securities Exchanges ETF | +14.31% | 0.37% | $1.41B |
| #359 | C |
KRE | State Street SPDR S&P Regional Banking ETF | +16.59% | 0.35% | $4.01B |
| #367 | C |
KBE | State Street SPDR S&P Bank ETF | +15.22% | 0.35% | $1.62B |