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Launched

iShares U.S. Thematic Rotation Active ETF

THRONYSE ArcaiSharesB

$42.63−0.42 (−0.98%)

At close: Nov 2, 2026, 4:00 PM ET

B68/ 100

Rank 28 of 126 in US Active Equity

B68/100Rank 28 of 126inUS Active Equity
Intraday session: down, 79 prints from 43.05 to 42.63. Range 42.63 to 43.38. Use the arrow keys to read each point.42.8043.2043.4010 AM12 PM2 PM4 PM
Expense ratio
0.57%
Fund size
$7.33B
1Y total return
+11.7%
Yield · Last 12 months
0.30%
Holdings
248
Avg volume · 30D
740K sh
52W range
low $34.95high $45.04
Launched

The ETF.net THRO Grade

B

Score 68 out of 100

Category
US Active Equity⁠
Rank
28 of 126
Six-pillar profile for THRO. Scores out of 100: Cost 61, Risk 56, Mission 72, Tradability 95, Holdings 57, Durability 89. Strongest: Tradability (95). Weakest: Risk (56). Leans toward Tradability and Durability.

Score 68 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.
    B61 out of 100
    Rank 49 of 126

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A72 out of 100
    Rank 32 of 49

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B56 out of 100
    Rank 56 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A95 out of 100
    Rank 2 of 126

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B57 out of 100
    Rank 63 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A89 out of 100
    Rank 6 of 126

Our read on THRO

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Dec 14, 2021

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

Not enough history yet.Not enough history yet.
THRO$11,173
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. THRO $11,173. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 THRO. Periods over one year show the average yearly return.
PeriodTHRO
Year to date+12.0%
1 month−2.1%
3 months+1.2%
1 year+11.7%
3 yearsper year+24.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 THRO
YearReturn barTHRO
2026 YTD+12.0%
2025+15.0%
2024+32.0%
2023+24.4%
2022−17.8%
2021+2.1%

History from Dec 16, 2021

THRO in the news

THRO 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 Oct 30, 2026.
0.30%Last 12 months
Payout per share
$0.13Last 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2022–2026

One bar per payment. 20 payments from 2022 to 2026 YTD. Mar 24, 2022 $0.04; Jun 9, 2022 $0.03; Sep 26, 2022 $0.05; Dec 13, 2022 $0.06; Mar 23, 2023 $0.04; Jun 7, 2023 $0.02; Sep 26, 2023 $0.03; Dec 20, 2023 $0.04; Mar 21, 2024 $0.01; Jun 11, 2024 $0.01; Sep 25, 2024 $0.03; Dec 17, 2024 $0.18; Dec 30, 2024 $0.0045; Mar 18, 2025 $0.0049; Jun 16, 2025 $0.008; Sep 16, 2025 $0.03; Dec 16, 2025 $0.01; Mar 17, 2026 $0.02; Jun 15, 2026 $0.05; Sep 15, 2026 $0.05. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Sep 15, 2026Sep 18, 2026$0.05
Jun 15, 2026Jun 18, 2026$0.05
Mar 17, 2026Mar 20, 2026$0.02
Dec 16, 2025Dec 19, 2025$0.01
Sep 16, 2025Sep 19, 2025$0.03
Jun 16, 2025Jun 20, 2025$0.008
Mar 18, 2025Mar 21, 2025$0.0049
Dec 30, 2024Jan 3, 2025$0.0045
Dec 17, 2024Dec 20, 2024$0.18
Sep 25, 2024Sep 30, 2024$0.03
Jun 11, 2024Jun 17, 2024$0.01
Mar 21, 2024Mar 27, 2024$0.01

See all 20 payments⁠

$10,000 in THRO 3 years ago paid $195 in dividends.⁠

THRO Risk

Risk pillarB56 out of 100Rank 56 of 126 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
13.9%
Annualised · 36 months to Oct 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.
1.33
vs 3-month T-bills · to Oct 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.
−26.5%
58 months · trough Sep 2022
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.
1.06
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.

FMP measures it over up to five years of monthly returns.

THRO Cost

Compare THRO and TACU

Overpaying vs TACU, cheapest in US Active Equity

$11,271

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • THRO 0.57%

    $11,271

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • THRO 0.57%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530THRO $11,271TACU $0

Year by year

YearTHROTACUOverpaying
10$1,023$0$1,023
20$3,921$0$3,921
30$11,271$0$11,271

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