iShares U.S. Broker-Dealers & Securities Exchanges ETF
$183.45+0.01 (+0.01%)
- Expense ratio
- 0.37%
- Fund size
- $1.4B
- 1Y return
- +4.9%
- Yield · Last 12 months
- 1.16%
- Holdings
- 35
- Volume · 30D
- 0.1M sh
- NAV per share
- $187.17
- 52W range
The ETF.net IAI Grade
Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 53Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 30Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 69Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.FScore 20Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 64Category rank
Our read on IAI
CMost financials ETFs are mostly banks and insurers. IAI skips that and buys the toll booths: exchanges, brokerages and investment banks, about 40 names on the fee-and-commission side of Wall Street.
The fund seeks to track an index of U.S. equities in the investment services sector. It is designed to provide targeted exposure to U.S. investment banks, brokerages, and exchanges.
Why people hold it
- At 0.37%, it costs less than the typical broad financials fund (median 0.44%) and less than its own iShares broad-sector sibling IYF at 0.38%.
- Targeted by design: U.S. investment banks, brokerages and exchanges, the slice that broad sector funds bury under lenders and insurers.ishares.com
- Live since 2006, so it has traded through the financial crisis and everything since. A multi-billion-dollar iShares fund that pays quarterly.
Worth knowing
- About 40 holdings. A handful of big exchanges and brokers drive most of the ride, and concentration cuts both ways.
- Capital-markets revenue tracks trading volumes, IPOs and deal flow, and the fund sits at the more volatile end of its financials peer group.
- Whole-sector coverage is cheaper: XLF and VFH run under 0.10%. The narrow slice carries a higher fee.
IAI Holdings
- Stocks
- 35
- 85%
- OPY
Sectors
- Financials99.7%
- Technology0.3%
Geography
- United States100.00%
IAI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
IAI$10,494
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | IAI |
|---|---|
| Year to date | +3.2% |
| 1 month | −5.4% |
| 3 months | −1.5% |
| 1 year | +4.9% |
| 3 years | +27.4% |
| 5 years | +13.7% |
| 10 years | +17.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | IAI |
|---|---|---|
| 2026 YTD | +3.2% | |
| 2025 | +25.8% | |
| 2024 | +34.4% | |
| 2023 | +15.3% | |
| 2022 | −10.9% | |
| 2021 | +40.5% | |
| 2020 | +18.6% |
IAI in the news
IAI Dividends
- 1.16%
- $2.13
- $0.51 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 15, 2026 | Sep 18, 2026 | $0.51 |
| Jun 15, 2026 | Jun 18, 2026 | $0.47 |
| Mar 17, 2026 | Mar 20, 2026 | $0.69 |
| Dec 16, 2025 | Dec 19, 2025 | $0.45 |
| Sep 16, 2025 | Sep 19, 2025 | $0.44 |
| Jun 16, 2025 | Jun 20, 2025 | $0.36 |
| Mar 18, 2025 | Mar 21, 2025 | $0.46 |
| Dec 17, 2024 | Dec 20, 2024 | $0.43 |
| Sep 25, 2024 | Sep 30, 2024 | $0.36 |
| Jun 11, 2024 | Jun 17, 2024 | $0.36 |
| Mar 21, 2024 | Mar 27, 2024 | $0.35 |
| Dec 20, 2023 | Dec 27, 2023 | $0.44 |
IAI Risk
- 19.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.17
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −28.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.09
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
IAI Cost
0.37%
IAI0.37%
- The middle half of Financials (Broad) funds
- Median 0.37%
6 of the 18 Financials (Broad) funds charge less.