IAI — iShares U.S. Broker-Dealers & Securities Exchanges ETF

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.

Overview

The iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is a financial sector fund issued by iShares that currently holds $1.33 billion in assets under management. Trading at a price of $186.90, the fund carries an expense ratio of 0.38% and offers a dividend yield of 1.17%. Within the broader universe of 458 tracked ETFs, IAI holds an overall rank of #373 and has received an ETFValuer grade of C with a score of 51.2 out of 100. Among the 9 ETFs ETFValuer tracks specifically in the Financial category, this positioning suggests a mid-tier standing relative to its peers. The asset size of $1.33 billion indicates a moderate level of investor adoption compared to larger industry leaders. Its cost structure and income profile remain consistent with other funds in the sector, though the overall grade reflects mixed performance metrics. The fund's current market capitalization and price point place it in a specific segment of the financial ETF landscape defined by its broker-dealer focus.

Over the last trading day, the fund declined by 0.23%, following a weekly drop of 0.78% before recovering to a monthly gain of 3.04%. The three-month return accelerated to 6.29%, while the six-month period showed a near-flat result with a return of just 0.01%. Year-to-date performance stands at 3.50%, which trails the one-year return of 9.23% recorded over the past twelve months. A significant divergence appears in the long-term data, where the three-year return has surged to 98.79%, indicating a substantial accumulation of value over that extended horizon. This pattern suggests that while recent short-term and medium-term returns have been volatile or muted, the longer-term trajectory has been strongly positive. The fund's performance shows a clear deceleration from the three-year period down to the six-month and one-year windows before a slight recovery in the most recent month.

The fund is assigned a Moderate volatility label and exhibits a beta of 1.18, indicating that its price movements tend to be slightly more sensitive to market fluctuations than the broader benchmark. A Sharpe ratio of 0.21 suggests that the risk-adjusted returns have been relatively low relative to the volatility experienced by investors. The maximum drawdown of -23.14% highlights the potential for significant temporary losses during market downturns. This combination of a beta above 1.0 and a high maximum drawdown implies that the fund amplifies market moves in both directions, leading to sharper declines during negative periods. The moderate volatility classification aligns with the beta figure, confirming that the fund does not offer the stability of lower-beta instruments. Investors should expect a return profile that is more reactive to market shifts, resulting in higher swings in value compared to more conservative financial sector options.

AI-generated summary based on the data on this page.

IAI Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 73.8% 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 (48.4% of IAI's assets).

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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

IAI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 2.32% and average daily volume is 106K/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 $1.33B 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

How IAI Compares to Other Financial ETFs