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IDEF

GradeBNASDAQ

iShares Defense Industrials Act

Themes · IShares · Inception 2025-05-18

$31.95−0.04 (−0.14%)

As of Sep 23, 2026, 2:20 PM EDT

History starts May 21, 2025.
Intraday session: down, 59 prints from 32.00 to 31.95. Range 31.81 to 32.14. Use the arrow keys to read each point.$31.80$31.90$32.00$32.1010 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$4.4B
1Y return
+3.7%
Yield · Last 12 months
Data unavailable
Holdings
141
Volume · 30D
0.7M sh
NAV per share
$32.02
52W range
low $28.54high $36.88

The ETF.net IDEF Grade

B

56/ 100

Rank 7 of 26 in Defense & Aerospace⁠

Confidence Medium

Six-pillar profile for IDEF. Scores out of 100: Cost 44, Risk 52, Mission not scored, Tradability 58, Holdings 86, Durability 82. Strongest: Holdings (86). Weakest: Cost (44). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 56 of 100 sits in the B 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 44
    Category rank15/26 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank12/25 · top 48%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 58
    Category rank9/26 · top 35%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 86
    Category rank2/26 · top 8%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 82
    Category rank6/26 · top 23%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on IDEF

ETF.net Research

BBlackRock's active answer to index-tracking defense funds: a stock picker's portfolio of global aerospace, cyber and defense-infrastructure names, with no US-only benchmark holding the leash.

Stated mandate

The fund seeks to invest at least 80% of its assets in equity securities of U.S. and non-U.S. defense and related industrial companies.

Why people hold it

  1. 01Active and global by design: at least 80% of assets go to US and non-US defense and related industrial companies, so European rearmament names are in bounds.ishares.com
  2. 02Spreads across about 120 holdings, reaching past the classic primes into aerospace, cybersecurity and infrastructure suppliers.ishares.com
  3. 03Crossed a billion dollars in assets and trades actively, an unusually quick start for a fund launched in 2025.
  4. 04Holds its own in a crowded defense field, landing in the upper half of its peer group on our review.

Worth knowing

  1. 01At 0.55%, it costs more than index rivals like ITA (0.37%) and XAR (0.35%). The stock picking is what the extra buys.
  2. 02Launched in 2025 with no declared index, so there is a short record and no benchmark to measure the manager's picks against.
  3. 03Distributions come once or twice a year rather than quarterly.

IDEF Holdings

As of Sep 22, 2026, 5:12 AM
Asset class
Stocks
Holdings
141
Top-10 weight
36%
Largest holding
RTX6.5%

Sectors

  • Industrials78.4%
  • Technology19.1%
  • Materials1.5%
  • Energy0.6%
  • Utilities0.2%
  • Communication0.1%
  • Consumer Discr.0.0%

Geography

  • United States59.10%
  • Korea (the Republic of)7.71%
  • United Kingdom7.27%
  • Japan4.88%
  • France4.46%
  • Germany2.72%
  • Netherlands2.55%
  • Sweden1.86%
  • Other countries (9)9.45%

Developed 74% · Emerging 26% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 11.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001RTXRTX6.55%1,458,426$283M390
002PLTRPALANTIR TECHNOLOGIES CLASS A5.02%1,220,639$217M503
003—BLK CSH FND TREASURY SL AGENCY3.77%162,870,000$163M440
004LMTLOCKHEED MARTIN CORP3.62%293,120$156M406
005RR.LROLLS-ROYCE HOLDINGS PLC3.29%7,334,202$142M148
006BABOEING3.19%695,614$138M305
007GDGENERAL DYNAMICS CORP2.94%360,428$127M367
008NOCNORTHROP GRUMMAN CORP2.58%211,470$112M345
009AIR.PAAIRBUS GROUP2.55%497,057$110M134
010SPCXSPACE EXPLORATION TECHNOLOGIES COR2.44%689,929$105M268
011012450.KSHANWHA AEROSPACE LTD2.21%122,404$95M93
012HO.PATHALES SA2.18%345,612$94M122
013BA.LBAE SYSTEMS PLC2.18%3,479,379$94M134
014GEGE AEROSPACE1.83%251,755$79M404
0157011.TMITSUBISHI HEAVY INDUSTRIES1.73%3,036,700$75M130

Showing 1–15 of 154 holdings

IDEF Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

IDEF$10,374
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. IDEF $10,374. SPY $11,723. Use the arrow keys to read each point.$9,112$10,535$11,958Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for IDEF. Periods over one year show the average yearly return.
PeriodIDEF
Year to date+4.0%
1 month−4.6%
3 months+0.9%
1 year+3.7%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for IDEF
YearReturn barIDEF
2026 YTD+4.0%
2025+23.1%

History from May 21, 2025

IDEF in the news

IDEF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 16, 2025 $0.05; Jun 15, 2026 $0.05. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 15, 2026Jun 18, 2026$0.05
Dec 16, 2025Dec 19, 2025$0.05

IDEF Risk

How much the fund’s monthly returns vary, scaled to a year.
20.9%
Annualised · 15 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.83
vs 3-month T-bills · 15 months to Aug 2026
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.

The largest fall from a peak to the low that followed.
−15.8%
16 months · trough Jul 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.82
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

IDEF Cost

Expense ratio0.55%
  • The middle half of Defense & Aerospace funds
  • Median 0.50%

13 of the 25 Defense & Aerospace funds charge less.

IDEF costs $55.00 a year on $10,000. The median Defense & Aerospace fund costs $50.00.