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Launched · SEC filings

iShares S&P 500 3% Capped ETF

TOPCNYSE ArcaiSharesB

$34.46−0.11 (−0.32%)

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

B55/ 100

Rank 9 of 14 in S&P 500

B55/100Rank 9 of 14inS&P 500
Intraday session: down, 73 prints from 34.57 to 34.46. Range 34.46 to 34.81. Use the arrow keys to read each point.34.5034.7034.8010 AM12 PM2 PM4 PM
Expense ratio
0.15%
Fund size
$33M
1Y total return
+13.6%
Yield · Last 12 months
1.03%
Holdings
507
Avg volume · 30D
8.6K sh
52W range
low $29.14high $35.63
Launched
Filings
SEC EDGAR

The ETF.net TOPC Grade

B

Score 55 out of 100

Category
S&P 500⁠
Rank
9 of 14
Six-pillar profile for TOPC. Scores out of 100: Cost 32, Risk 50, Mission 97, Tradability 28, Holdings 77, Durability 46. Strongest: Mission (97). Weakest: Tradability (28). Leans toward Mission.

Score 55 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.
    D32 out of 100
    Rank 10 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A97 out of 100
    Rank 9 of 13

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C50 out of 100
    Rank 9 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 10 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A77 out of 100
    Rank 4 of 14

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C46 out of 100
    Rank 9 of 14

Our read on TOPC

ETF.net Research

In short

BThe S&P 500 with a governor on its biggest engines. Same roughly 500 companies, but at each quarterly rebalance no single stock is allowed past 3% of the index. A middle lane between straight cap weighting and equal weight.

Stated mandate

The fund seeks to track an index of S&P 500 companies while limiting each company's index weight to 3%.

Why people hold it

  • One rule does all the work: at each quarterly rebalance no company may exceed a 3% index weight, so a handful of megacaps cannot set the tone for the whole portfolio.indexologyblog.comishares.com
  • Costs less than the equal-weight route (0.15% versus RSP's 0.20%) and keeps cap weighting intact below the ceiling rather than flattening every name to the same size.
  • No black box. Roughly 500 familiar large caps, a published capping rule from S&P you can check yourself, and cash paid out quarterly.spglobal.com

Worth knowing

  • The ceiling has a price tag: 0.15% a year, while plain S&P 500 trackers like SPYM, VOO and IVV charge 0.02% to 0.03%.
  • Launched in 2025, still small and thinly traded. That combination typically means wider bid-ask spreads than the household-name S&P 500 funds.
  • The 3% limit is applied at quarterly rebalances, not continuously, so a fast-rising giant can drift above 3% between reset dates.indexologyblog.com

TOPC Performance

Launched Apr 15, 2025

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.Not enough history yet.
TOPC$11,359
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. TOPC $11,359. SPY $11,199. Use the arrow keys to read each point.$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 TOPC. Periods over one year show the average yearly return.
PeriodTOPC
Year to date+12.4%
1 month−0.1%
3 months+1.5%
1 year+13.6%
3 yearsFund is under 3 years oldper yearNo data
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 TOPC
YearReturn barTOPC
2026 YTD+12.4%
2025+27.4%

History from Apr 16, 2025

TOPC in the news

TOPC 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.
1.03%Last 12 months
Payout per share
$0.36Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 6 payments from 2025 to 2026 YTD. Jun 16, 2025 $0.05; Sep 16, 2025 $0.10; Dec 16, 2025 $0.10; Mar 17, 2026 $0.07; Jun 15, 2026 $0.09; Sep 15, 2026 $0.10. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 15, 2026Sep 18, 2026$0.10
Jun 15, 2026Jun 18, 2026$0.09
Mar 17, 2026Mar 20, 2026$0.07
Dec 16, 2025Dec 19, 2025$0.10
Sep 16, 2025Sep 19, 2025$0.10
Jun 16, 2025Jun 20, 2025$0.05

$10,000 in TOPC 1 year ago paid $116 in dividends.

TOPC Risk

Risk pillarC50 out of 100Rank 9 of 14 in S&P 500
How much the fund’s monthly returns vary, scaled to a year.
10.8%
Annualised · 18 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.
1.60
vs 3-month T-bills · 18 months 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.
−8.0%
18 months · trough Mar 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.
0.90
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.

TOPC Cost

Compare TOPC and SPYM

Overpaying vs SPYM, cheapest in S&P 500

$2,711

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

  • TOPC 0.15%

    $3,137

  • SPYM 0.02% Cheapest

    $426

$10,000
30 years

Cost over time

  • TOPC 0.15%
  • SPYM 0.02%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530TOPC $3,137SPYM $426

Year by year

YearTOPCSPYMOverpaying
10$274$37$237
20$1,071$144$927
30$3,137$426$2,711

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