iShares U.S. Thematic Rotation Active ETF
$44.61−0.10 (−0.22%)
- 0.57%
- $7.5B
- +21.3%
- 0.29%
- 0.9M sh
- $44.70
- low $34.95high $45.04
The ETF.net THRO Grade
B
Score 67 out of 100
- 30 of 127
Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B63 out of 100Rank 46 of 127Mission
Whether the fund did what it promised, tested against its stated mandate.A73 out of 100Rank 28 of 48Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B57 out of 100Rank 48 of 126Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A83 out of 100Rank 8 of 127Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B58 out of 100Rank 63 of 124Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A89 out of 100Rank 6 of 127
Our read on THRO
BMost thematic ETFs make you pick the theme and the timing. THRO hands both jobs to BlackRock's active team, rotating a roughly 240-stock U.S. portfolio as themes move in and out of favor.
The fund seeks long-term capital appreciation by actively adjusting its exposure to changing themes in the U.S. market.
Why people hold it
- You're buying the rotation, not one theme. Managers actively shift exposure across changing U.S. themes, spread over roughly 240 stocks instead of a dozen pure plays.ishares.com
- Sits among the stronger implementations in the U.S. thematic group, and it's a multi-billion-dollar fund that trades actively rather than a thin novelty listing.
- Live since 2021 and run under the iShares banner, so it comes with full-scale fund operations behind the stock picking.
Worth knowing
- 0.57% a year is what the theme calls cost. Broad U.S. index funds charge a small fraction of that, so the manager has ground to make up.
- Active and index-free: no benchmark to check the work against, and the portfolio can look very different from the broad U.S. market at any moment.ishares.com
- Built for long-term capital appreciation. Distributions come quarterly and are a byproduct, not the mandate.
THRO Holdings
- Stocks
- 250
- 44%
- NVDA
Sectors
- Information Technology45.0%
- Industrials10.2%
- Financials9.7%
- Communication8.5%
- Consumer Discretionary7.2%
- Health Care6.8%
- Consumer Staples5.4%
- Energy5.3%
- Utilities1.3%
- Materials0.5%
Geography
- United States98.41%
- Israel0.64%
- Singapore0.27%
- Bermuda0.27%
- Netherlands0.15%
- Ireland0.14%
- Germany0.07%
- Australia0.03%
- 0.02%
THRO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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THRO$12,131
Returns run to the Oct 12, 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 | THRO |
|---|---|
| Year to date | +16.3% |
| 1 month | +1.9% |
| 3 months | +3.6% |
| 1 year | +21.3% |
| 3 years | +24.5% |
| 5 years | — |
| 10 years | — |
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 | THRO |
|---|---|---|
| 2026 YTD | +16.3% | |
| 2025 | +15.0% | |
| 2024 | +32.0% | |
| 2023 | +24.4% | |
| 2022 | −17.8% | |
| 2021 | +2.1% |
THRO in the news
THRO Dividends
- 0.29%
- $0.13
- $0.05 per share
- Quarterly
Distribution history
THRO Risk
- 13.9%
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.
- 1.31
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.
- −26.5%
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.
- 1.10
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
THRO Cost
0.57%
THRO0.57%
- The middle half of US Active Equity funds
- Median 0.70%
45 of the 123 US Active Equity funds charge less.
Other funds in US Active Equity
- BINROiShares U.S. Industry Rotation Active ETFExpense ratio 0.42%1 year return +21.9%
- BBLUXBluemonte Dynamic Total Market ETFExpense ratio 0.30%1 year return +19.2%
- BLSTLeuthold Select Industries ETFExpense ratio 0.65%1 year return +26.1%
- BMSLCMorgan Stanley Pathway Funds - Large Cap Equity ETFExpense ratio 0.63%1 year return +17.2%
- BOALCOneAscent Large Cap Core ETFExpense ratio 0.58%1 year return +23.5%