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ISTM

GradeCNASDAQ Global Market

iShares Strategic Metals ETF

Commodities · IShares · Inception 2023-09-25 · SEC filings

$30.91−0.70 (−2.22%)

As of Sep 23, 2026, 2:11 PM EDT

History starts May 4, 2026.History starts May 4, 2026.History starts May 4, 2026.
Intraday session: down, 29 prints from 31.61 to 30.91. Range 30.72 to 31.26. Use the arrow keys to read each point.$30.80$31.00$31.2010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$34M
1Y return
—
Yield · Last 12 months
13.29%
Holdings
87
Volume · 30D
0M sh
NAV per share
$31.33
52W range
low $25.64high $37.54

The ETF.net ISTM Grade

C

45/ 100

Rank 17 of 23 in Broad Commodity Futures⁠

Confidence Medium

Six-pillar profile for ISTM. Scores out of 100: Cost 75, Risk 13, Mission not scored, Tradability 1, Holdings 75, Durability 35. Strongest: Cost (75). Weakest: Tradability (1). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 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.
    AScore 75
    Category rank7/23 · top 30%

  • 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.
    FScore 13
    Category rank21/23 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 1
    Category rank23/23 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 75
    Category rank4/15 · top 27%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 35
    Category rank18/23 · bottom quartile

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

Our read on ISTM

ETF.net Research

CA commodity fund with no oil in it. ISTM tracks futures on copper, aluminum, silver, nickel, zinc and platinum: the metals that get wired into grids, data centers and factories.

Stated mandate

The Fund seeks to track a commodities futures index providing strategic exposure to metals used in structural themes including AI infrastructure, manufacturing, energy production and distribution, and national security.

Why people hold it

  1. 01Metals only, no energy or grains. Copper, aluminum, silver, nickel, zinc and platinum, reviewed annually by a committee that skips metals stuck in prolonged oversupply.ishares.com
  2. 02The index targets futures about 12 months out rather than front-month contracts, a slower roll schedule than near-dated commodity benchmarks run.ishares.com
  3. 03At 0.49% a year, the fee sits below the typical broad-basket commodity futures fund.

Worth knowing

  1. 01Small asset base, thin volume. Spreads can cost more than the fee does, and that bill arrives at the trade rather than in the expense ratio.
  2. 02Narrow by design: six metals, no energy or agriculture, so swings run sharper than a diversified basket. Broad rivals like BCI and CMDY also charge less.
  3. 03Launched in 2023, the fund reworked its index, name and mandate in 2026, so the earlier track record reflects a different strategy.blackrock.com

ISTM Holdings

As of Sep 22, 2026, 4:54 AM
Asset class
Other
Holdings
87
Top-10 weight
42%
Largest holding
BLK CSH FND TREASURY SL AGENCY17.5%

Sectors

  • Financials100.0%

Geography

  • United States84.26%
  • Canada5.21%
  • Sweden2.20%
  • Ireland1.82%
  • Australia1.47%
  • United Kingdom1.47%
  • New Zealand1.42%
  • Norway0.72%
  • Other countries (2)1.44%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BLK CSH FND TREASURY SL AGENCY17.47%5,990,000$6M440
002—CASH COLLATERAL USD BZUFT9.46%3,242,000$3M6
003—USD CASH3.30%1,131,726$1M193
004—TREASURY BILL2.92%1,000,000$1000K21
005—TREASURY BILL2.91%1,000,000$999K19
006—CRH AMERICA FINANCE INC 144A1.51%520,000$517K3
007—TREASURY BILL1.46%500,000$500K16
008—TREASURY BILL1.45%500,000$497K16
009—DUKE ENERGY CORP 144A1.02%350,000$349K1
010—KOCH COMPANIES LLC0.99%340,000$338K2
011—EATON CAPITAL UNLIMITED 144A0.96%330,000$330K1
012—FIDELITY NATL INFO SERV 144A0.90%310,000$309K2
013—NTT FINANCE AMERICAS INC 144A0.87%300,000$299K4
014—AQUITAINE FUNDING COMPANY LLC 144A0.87%300,000$299K2
015—PROCTER & GAMBLE COMPANY (THE) 144A0.87%300,000$299K3

Showing 1–15 of 88 holdings

ISTM Performance

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

ISTM$10,411
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. ISTM $10,411. SPY $10,415. Use the arrow keys to read each point.$9,139$9,843$10,547Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 ISTM. Periods over one year show the average yearly return.
PeriodISTM
Year to dateHistory unavailable—
1 month+0.1%
3 months+4.1%
1 yearHistory unavailable—
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 ISTM
YearReturn barISTM
2026 YTD+2.6%

History from May 4, 2026

ISTM in the news

ETF.net Research hasn’t filed on ISTM yet — coverage lands here as it’s written.

ISTM 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.
13.29%Last 12 months
Payout per share
$4.20Last 12 months
Last payment
$4.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 20, 2023 $0.26; Dec 17, 2024 $6.34; Dec 16, 2025 $4.20. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 16, 2025Dec 19, 2025$4.20
Dec 17, 2024Dec 20, 2024$6.34
Dec 20, 2023Dec 27, 2023$0.26

ISTM Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.
0.46
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.

ISTM Cost

Expense ratio0.49%
  • The middle half of Broad Commodity Futures funds
  • Median 0.72%

4 of the 21 Broad Commodity Futures funds charge less.

ISTM costs $49.00 a year on $10,000. The median Broad Commodity Futures fund costs $72.00.