DYNF vs INRO: Grades, Fees and Holdings Compared

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

iShares U.S. Industry Rotation Active ETF

INROBNasdaq

Overlap

66.3%by weight

Expense ratio

DYNF −0.16pt a year

DYNF0.26%INRO0.42%

Avg volume · 30D

DYNF 11.9×the volume

DYNF2.25MINRO190K

DYNF vs INRO Performance

Oct 31, 2025 – Oct 30, 2026

+11.6%DYNF+12.2%INRO

Expense ratio: DYNF 0.26%, better; INRO 0.42%
Fund size: DYNF $41.8B; INRO $528M
1Y total return: DYNF +11.6%; INRO +12.2%, better
Yield (12M): DYNF 0.84%, better; INRO 0.60%
Holdings: DYNF 264; INRO 346
Avg volume (30D): DYNF 2.25M sh, better; INRO 190K sh
NAV per share: DYNF $67.32; INRO $35.99
52W range

ETF.net Grade

Pillar letters and Scores for DYNF, INRO, with each pillar’s weight
Pillar	DYNF	INRO
Cost30% weight	A86Higher	A74
Mission25% weight	Not scored	Not scored
Risk15% weight	A71Higher	C47
Tradability15% weight	A99Higher	A80
Holdings10% weight	B65	A71Higher
Durability5% weight	A97Higher	A77

Rank among US Active Equity funds

How we build Categories ›

Same Category. DYNF and INRO are both graded against the same 121 US Active Equity funds, so their Grades compare head to head.

US Active Equity⁠

Category · 121 funds

See all 121 ›

DYNF ranks 4th and INRO 25th of 121 funds in the US Active Equity Category.

Rank 1AAVLCAvantis U.S. Large Cap Equity ETFScore 87
Rank 2ADFAUDimensional US Core Equity Market ETFScore 86
Rank 3ADFACDimensional US Core Equity 2 ETFScore 85
Rank 4ADYNFiShares U.S. Equity Factor Rotation Active ETFScore 83
Rank 4AFELCFidelity Enhanced Large Cap Core ETFScore 83
Rank 25AENHUiShares Enhanced Large Cap Core Active ETFScore 69
Rank 25BINROiShares U.S. Industry Rotation Active ETFScore 69
Rank 28BBLCRiShares Large Cap Core Active ETFScore 68

Our read on each fund

ETF.net Research

DYNFAiShares U.S. Equity Factor Rotation Active ETF

INROBiShares U.S. Industry Rotation Active ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

INRO BlackRock's take on the idea that the big money is in which industries you own, not which stocks. INRO rotates actively across U.S. industries, spreads the bet over roughly 300 names, and charges well below the typical active U.S. equity fund.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

INRO The fund seeks long-term capital appreciation through active rotation among U.S. industries, using forward-looking analysis and dynamically tilting toward sectors the manager believes may outperform across market cycles.

Why people hold it

DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

INRO Charges 0.42% a year while the median active U.S. equity fund in its group runs 0.65%. Active calls at close to factor-fund pricing.
The active decision is industry weights, not stock picking. It tilts toward the U.S. industries the manager expects to lead, then holds roughly 300 names underneath.
Same iShares systematic playbook as DYNF, which rotates factors. This one applies the rotate-the-exposure idea to industries instead.ishares.com
Broad holdings and quarterly distributions, so it behaves like a core U.S. equity sleeve with an industry tilt rather than a concentrated theme fund.

Worth knowing

DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

INRO Launched in 2024, so there is only a short record to judge whether the industry calls add up across a full market cycle.
A small fund that trades lightly next to broad-market ETFs. Limit orders and a look at the spread matter more here.
There is no index to match, so outcomes ride on the manager's rotation. Plain core index funds like DFAU cost a fraction of this.

Full DYNF profile⁠

Full INRO profile⁠

DYNF vs INRO Holdings

How DYNF and INRO differ

Overlap by weight

66.3%

Shared holdings make up 89.0% of DYNF and 83.6% of INRO.

Level by level

Holdings156 in both66.3%
Sector11 Sectors91.3%
Countryby domicile99.4%
Asset classEquity100%

Sector

Sector weights in DYNF and INRO, widest gap first
Sector	More in DYNFMore in INRO	DYNF	INRO
Consumer Staples	INRO +3.7 points	2.2%	5.9%
Financials	DYNF +3.1 points	15.4%	12.3%
Health Care	INRO +2.7 points	7.7%	10.4%
Real Estate	DYNF +1.8 points	2.0%	0.2%
Consumer Discretionary	INRO +1.9 points	7.0%	8.9%
Communication	DYNF +1.4 points	9.6%	8.2%
Energy	DYNF +1.3 points	5.3%	4.0%
Industrials	DYNF +0.8 points	8.0%	7.2%
Technology	INRO +0.4 points	39.9%	40.3%
Utilities	DYNF +0.2 points	1.8%	1.6%
Materials	INRO +0.1 points	0.9%	1.0%

Country, concentration and asset class

Country by domicile

Country weights in DYNF and INRO, widest gap first
Country	More in DYNFMore in INRO	DYNF	INRO
United States	DYNF +0.6 points	100.0%	99.4%
Other countries (8)	INRO +0.6 points	0.0%	0.6%

Concentration

Weight in the 10 largest Holdings

DYNF40.4%
INRO37.9%

Securities held

DYNF262
INRO343

Asset class

DYNF: Equity
INRO: Equity

Holdings

Only in DYNF106
In both156
Only in INRO187

Only in DYNF

106 securities, 11.0% of DYNF by weight

Parker-Hannifin1.28%
Allstate Corp1.14%
Duke Energy Corp1.07%
Welltower0.92%
Realty Income Reit0.73%
Cme Group Class A0.71%
Hartford Insurance Group0.57%
Progressive0.32%
General Motors0.28%
Prologis Reit0.26%
Lockheed Martin0.23%
Exelon Corp0.21%
Us Bancorp0.21%
Host Hotels & Resorts Reit0.19%
Fedex Corp0.14%
Applovin Class A0.14%
Nucor0.14%
Bank of New York Mellon Corp0.12%
Cboe Global Markets0.12%
State Street0.12%
United Therapeutics0.11%
American Electric Power Inc0.11%
Northrop Grumman Corp0.11%
Boston Scientific0.09%
Five Below0.09%
Citizens Financial Group Inc0.08%
Atlassian Corp Class A0.08%
Caseys General Stores Inc0.08%
Crh Public Limited PLC0.08%
Ati0.08%
Royal Caribbean Group0.07%
Roblox Class A0.07%
Neurocrine Biosciences0.06%
Cardinal Health0.06%
Archer Daniels Midland0.06%
Cummins Inc0.05%
Omnicom Group Inc0.05%
Halozyme Therapeutics0.05%
Insmed0.04%
Anglogold Ashanti PLC0.04%
Revolution Medicines0.04%
Cognizant Technology Solutions Cla0.04%
Biogen0.04%
Hubspot0.04%
L3HARRIS Technologies0.03%
Lennar A Class A0.03%
Ftai Aviation0.03%
Strategy Inc Class A0.03%
Keysight Technologies0.03%
Devon Energy0.02%

Only in INRO

187 securities, 16.4% of INRO by weight

Teledyne Technologies0.91%
Williams0.56%
Kla0.53%
Ametek Inc0.50%
Gxo Logistics0.37%
Labcorp Holdings0.32%
Aon PLC Class A0.32%
Slb0.31%
Boeing0.30%
Kimberly Clark0.29%
Clorox0.29%
Toll Brothers Inc0.28%
Motorola Solutions Inc0.28%
Baker Hughes Class A0.27%
Honeywell Aerospace Inc0.27%
Mettler Toledo0.25%
Becton Dickinson0.25%
S&P Global0.24%
Ingram Micro Holding0.21%
Unum0.21%
Gfl Environmental Subordinate Voti0.20%
Service0.20%
Estee Lauder Inc Class A0.20%
Expand Energy0.19%
Mohawk Industries0.19%
Entegris Inc0.18%
Nvent Electric PLC0.18%
Baxter International0.17%
Te Connectivity PLC0.17%
Godaddy Class A0.16%
Kinder Morgan0.16%
American Water Works0.16%
Blackstone0.16%
Molson Coors Brewing Class B0.16%
Sherwin Williams0.16%
Toast Class A0.15%
Boyd Gaming0.15%
Carmax Inc0.15%
Eqt0.15%
Coeur Mining0.15%
Churchill Downs0.15%
Linde PLC0.14%
Chipotle Mexican Grill0.13%
Cadence Design Systems0.13%
Vistra0.13%
Dominos Pizza0.13%
T Mobile Us Inc0.13%
Qiagen0.13%
Kenvue0.13%
Freeport Mcmoran Inc0.12%

Weight gaps

The 100 widest of 156 Holdings in both funds.

Holding weights in DYNF and INRO, widest gap first
Holding	More in DYNFMore in INRO	DYNF	INRO
Exxonmobil Holdings CorpXOM	DYNF +2.23 points	3.18%	0.95%
JPMorgan Chase & CoJPM	DYNF +1.52 points	3.39%	1.87%
Mastercard Class AMA	INRO +1.40 points	0.07%	1.47%
SalesforceCRM	DYNF +1.35 points	1.57%	0.22%
Bank of AmericaBAC	DYNF +1.25 points	2.13%	0.88%
MicrosoftMSFT	INRO +1.18 points	4.78%	5.96%
Travelers CompaniesTRV	DYNF +1.09 points	1.60%	0.51%
RtxRTX	DYNF +1.01 points	1.12%	0.11%
Johnson & JohnsonJNJ	DYNF +0.97 points	2.04%	1.07%
Cisco Systems IncCSCO	DYNF +0.94 points	1.54%	0.60%
Procter & GamblePG	INRO +0.91 points	0.21%	1.12%
ChevronCVX	DYNF +0.79 points	1.71%	0.92%
CitigroupC	DYNF +0.78 points	1.35%	0.57%
Merck & Co IncMRK	INRO +0.77 points	0.02%	0.79%
Caterpillar IncCAT	DYNF +0.68 points	1.31%	0.63%
NetflixNFLX	DYNF +0.63 points	0.71%	0.08%
Wells FargoWFC	INRO +0.63 points	0.12%	0.75%
Visa Class AV	INRO +0.62 points	0.42%	1.04%
American International GroupAIG	DYNF +0.55 points	0.62%	0.07%
Amazon.com IncAMZN	DYNF +0.53 points	4.00%	3.47%
AT&TT	DYNF +0.52 points	0.64%	0.12%
Alphabet Class AGOOGL	INRO +0.52 points	2.07%	2.59%
Applied Material IncAMAT	DYNF +0.51 points	1.05%	0.54%
Xcel Energy IncXEL	INRO +0.47 points	<0.01%	0.47%
MetlifeMET	INRO +0.46 points	0.00%	0.46%
Trane Technologies PLCTT	DYNF +0.45 points	0.51%	0.06%
Broadcom IncAVGO	DYNF +0.44 points	2.40%	1.96%
Lam ResearchLRCX	DYNF +0.44 points	1.26%	0.82%
Costco Wholesale CorpCOST	INRO +0.44 points	0.22%	0.66%
DeereDE	DYNF +0.42 points	0.55%	0.13%
Home DepotHD	INRO +0.41 points	0.02%	0.43%
Amgen IncAMGN	INRO +0.40 points	0.05%	0.45%
Arista NetworksANET	INRO +0.35 points	0.06%	0.41%
Verizon Communications IncVZ	DYNF +0.34 points	0.75%	0.41%
PepsicoPEP	INRO +0.33 points	0.11%	0.44%
NewmontNEM	DYNF +0.32 points	0.62%	0.30%
Abbott LaboratoriesABT	INRO +0.32 points	0.02%	0.34%
Meta Platforms Class AMETA	DYNF +0.31 points	2.37%	2.06%
Thermo Fisher ScientificTMO	DYNF +0.31 points	0.66%	0.35%
Medtronic PLCMDT	INRO +0.30 points	0.33%	0.63%
Amphenol Corp Class AAPH	DYNF +0.30 points	0.70%	0.40%
Coca-ColaKO	INRO +0.28 points	0.07%	0.35%
SandiskSNDK	INRO +0.27 points	0.05%	0.32%
Marathon PetroleumMPC	INRO +0.27 points	0.00%	0.27%
IntuitINTU	DYNF +0.27 points	0.27%	<0.01%
Goldman Sachs GroupGS	DYNF +0.27 points	1.05%	0.78%
SempraSRE	INRO +0.27 points	<0.01%	0.27%
UnitedHealth GroupUNH	INRO +0.25 points	0.47%	0.72%
Kraft HeinzKHC	INRO +0.24 points	0.01%	0.25%
ServicenowNOW	DYNF +0.24 points	0.35%	0.11%
Alphabet Class CGOOG	INRO +0.22 points	1.71%	1.93%
Gilead SciencesGILD	DYNF +0.22 points	0.54%	0.32%
Eli LillyLLY	INRO +0.21 points	1.52%	1.73%
PfizerPFE	INRO +0.20 points	0.30%	0.51%
NVIDIANVDA	DYNF +0.20 points	7.83%	7.63%
AppleAAPL	INRO +0.20 points	8.27%	8.47%
Valero Energy CorpVLO	DYNF +0.19 points	0.47%	0.28%
Tesla IncTSLA	INRO +0.19 points	1.72%	1.91%
Mcdonalds CorpMCD	INRO +0.18 points	0.21%	0.39%
Adobe IncADBE	DYNF +0.19 points	0.25%	0.06%
American ExpressAXP	INRO +0.18 points	0.00%	0.18%
WalmartWMT	INRO +0.18 points	1.14%	1.32%
Texas InstrumentTXN	INRO +0.17 points	0.12%	0.29%
Palantir Technologies Class APLTR	DYNF +0.17 points	0.73%	0.56%
Quanta Services IncPWR	INRO +0.17 points	0.03%	0.20%
TeradyneTER	INRO +0.17 points	0.01%	0.18%
Cvs HealthCVS	INRO +0.16 points	0.15%	0.31%
Ge VernovaGEV	INRO +0.16 points	0.51%	0.67%
Palo Alto NetworksPANW	INRO +0.16 points	0.25%	0.41%
Advanced Micro DevicesAMD	DYNF +0.16 points	1.54%	1.38%
QualcommQCOM	INRO +0.16 points	0.10%	0.26%
CorningGLW	DYNF +0.15 points	0.33%	0.18%
Ge AerospaceGE	INRO +0.15 points	0.48%	0.63%
Booking HoldingsBKNG	DYNF +0.15 points	0.38%	0.23%
Bristol Myers SquibbBMY	INRO +0.15 points	0.05%	0.20%
Berkshire Hathaway Inc Class BBRK.B	INRO +0.15 points	1.06%	1.21%
International Business Machines CoIBM	INRO +0.15 points	0.22%	0.37%
Hca HealthcareHCA	DYNF +0.14 points	0.16%	0.02%
TjxTJX	INRO +0.13 points	0.03%	0.16%
Elevance Health IncELV	INRO +0.14 points	0.01%	0.15%
Phillips 66PSX	DYNF +0.14 points	0.23%	0.09%
Eaton PLCETN	INRO +0.13 points	0.43%	0.56%
Incyte CorpINCY	INRO +0.12 points	0.00%	0.12%
Intuitive SurgicalISRG	DYNF +0.12 points	0.22%	0.10%
Marvell TechnologyMRVL	INRO +0.12 points	0.21%	0.33%
Cloudflare Class ANET	INRO +0.12 points	0.03%	0.15%
Carvana Class ACVNA	INRO +0.11 points	<0.01%	0.12%
Johnson Controls International PLCJCI	INRO +0.11 points	0.03%	0.14%
Nextera EnergyNEE	DYNF +0.11 points	0.51%	0.40%
Western Digital CorpWDC	DYNF +0.11 points	0.40%	0.29%
CoherentCOHR	INRO +0.11 points	0.04%	0.15%
Walt DisneyDIS	INRO +0.10 points	0.13%	0.23%
Vertex PharmaceuticalsVRTX	INRO +0.10 points	0.06%	0.16%
OracleORCL	INRO +0.10 points	0.27%	0.37%
Micron TechnologyMU	DYNF +0.09 points	1.70%	1.61%
Zimmer Biomet HoldingsZBH	INRO +0.09 points	0.00%	0.09%
Vertiv Holdings Class AVRT	INRO +0.09 points	0.08%	0.17%
HumanaHUM	INRO +0.09 points	0.02%	0.10%
Accenture PLC Class AACN	DYNF +0.09 points	0.19%	0.10%
Target CorpTGT	INRO +0.08 points	0.03%	0.11%

All 262 DYNF holdings⁠All 343 INRO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DYNF vs INRO Cost

Overpaying INRO vs DYNF

$3,114

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

DYNF 0.26%
$5,358
INRO 0.42%
$8,472

Amount$10,000

Years30 years

Cost over time

DYNF 0.26%
INRO 0.42%
Overpaying

Year by year

Year	DYNF	INRO	Overpaying
10	$473	$759	$286
20	$1,838	$2,927	$1,089
30	$5,358	$8,472	$3,114

Expense ratio

0.26%DYNF, cheaper
0.42%INRO

DYNF0.26%INRO0.42%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

DYNF 18th cheapest of 121 funds

INRO 33rd cheapest of 121 funds

DYNF vs INRO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DYNF 0.84%, better; INRO 0.60%
Payout (12M): DYNF $0.56; INRO $0.22
Last payment: DYNF $0.14; INRO $0.05
Ex-dividend: DYNF Sep 15, 2026; INRO Sep 15, 2026
Paid on: DYNF Sep 18, 2026; INRO Sep 18, 2026
Frequency: DYNF Quarterly; INRO Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

INROQuarterly · 10 paymentsAll INRO payments⁠

DYNF vs INRO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DYNF 13.1%INRO 13.1%since Apr 2024
Return per unit of riskSharpe ratio, 3 years: DYNF 1.55INRO 0.85since Apr 2024
Worst fallMax drawdown, 5 years: DYNF −26.9%INRO −20.0%since Mar 2024
Market sensitivityBeta, 5 years: DYNF 1.02INRO 1.07; Market = 1

DYNF and INRO in the news

All news⁠

ETF Filings
BlackRock files two Form 497Ks for iShares DYNF
Sep 7, 2026DYNF

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DYNF vs INRO

In short

Stated mandate

Why people hold it

Worth knowing

How DYNF and INRO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in INRO

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock files two Form 497Ks for iShares DYNF

How DYNF and INRO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in INRO

Weight gaps