DYNF vs LCTU: Grades, Fees and Holdings Compared

iShares U.S. Equity Factor Rotation Active ETF

DYNFANYSE Arca

iShares U.S. Carbon Transition Readiness Aware Active ETF

LCTUANYSE Arca

Overlap

60.5%by weight

Expense ratio

LCTU −0.11pt a year

DYNF0.26%LCTU0.15%

Avg volume · 30D

DYNF 30.8×the volume

DYNF2.25MLCTU73.2K

5Y return · a year

DYNF +3.3pt

DYNF+13.8%LCTU+10.5%

DYNF vs LCTU Performance

Oct 29, 2021 – Oct 30, 2026

+90.9%DYNF+64.5%LCTU

Expense ratio: DYNF 0.26%; LCTU 0.15%, better
Fund size: DYNF $41.8B; LCTU $1.16B
1Y total return: DYNF +11.6%, better; LCTU +9.8%
Yield (12M): DYNF 0.84%; LCTU 0.97%, better
Holdings: DYNF 264; LCTU 323
Avg volume (30D): DYNF 2.25M sh, better; LCTU 73.2K sh
NAV per share: DYNF $67.32; LCTU $80.89
52W range

ETF.net Grade

Pillar letters and Scores for DYNF, LCTU, with each pillar’s weight
Pillar	DYNF	LCTU
Cost30% weight	A86	A96Higher
Mission25% weight	Not scored	A79
Risk15% weight	A71Higher	B56
Tradability15% weight	A99Higher	A85
Holdings10% weight	B65	A81Higher
Durability5% weight	A97Higher	A86

Rank among US Active Equity funds

How we build Categories ›

Same Category. DYNF and LCTU 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 LCTU 6th 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 6AEBILongview Advantage ETFScore 82
Rank 6ALCTUiShares U.S. Carbon Transition Readiness Aware Active ETFScore 82
Rank 8AAPUEActivePassive U.S. Equity ETFScore 78

Our read on each fund

ETF.net Research

DYNFAiShares U.S. Equity Factor Rotation Active ETF

LCTUAiShares U.S. Carbon Transition Readiness Aware 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.

LCTU BlackRock's climate pick: an active Russell 1000 portfolio tilted toward companies it scores as transition-ready, at 0.15% net of a waiver through June 30, 2027. Launched in 2021 with the biggest first-day haul the ETF industry had seen.

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.

LCTU LCTU pursues long-term capital growth through U.S. large- and mid-cap equities that BlackRock judges more capable of benefiting from the shift toward a low-carbon economy.

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.

LCTU Costs 0.15% net of a waiver through June 30, 2027, below the typical active US large-cap fund and level with Avantis' AVLC at 0.15%.
The tilt is written down, not vibed: names come from Russell 1000 members, and the fund targets a carbon-transition-readiness score at least 10% better than that index at purchase.sec.gov
One of the stronger builds in a crowded field of active US equity ETFs: roughly 300 large- and mid-cap names, quarterly distributions, a multi-billion-dollar asset base.

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.

LCTU That 0.15% rides on a waiver. The gross fee is 0.30%, and the discount is committed only through June 30, 2027.
The screen is BlackRock's own research, not a public index rulebook, and the fund can drift from its 10% uplift target as markets move or data changes.sec.gov
Fully invested US stocks, no downside cushion, and because the names are drawn from the Russell 1000 the portfolio can look a lot like the broad market.sec.gov

Full DYNF profile⁠

Full LCTU profile⁠

DYNF vs LCTU Holdings

How DYNF and LCTU differ

Overlap by weight

60.5%

Shared holdings make up 89.2% of DYNF and 77.1% of LCTU.

Level by level

Holdings160 in both60.5%
Sector11 Sectors90.5%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in DYNF and LCTU, widest gap first
Sector	More in DYNFMore in LCTU	DYNF	LCTU
Financials	DYNF +3.3 points	15.4%	12.1%
Technology	DYNF +3.0 points	39.9%	36.9%
Health Care	LCTU +2.6 points	7.7%	10.3%
Consumer Staples	LCTU +2.5 points	2.2%	4.7%
Consumer Discretionary	LCTU +2.1 points	7.0%	9.1%
Energy	DYNF +1.7 points	5.3%	3.6%
Communication	DYNF +1.4 points	9.6%	8.2%
Materials	LCTU +1.4 points	0.9%	2.3%
Industrials	LCTU +0.7 points	8.0%	8.7%
Utilities	LCTU +0.3 points	1.8%	2.1%
Real Estate	DYNF +0.1 points	2.0%	1.9%

Country, concentration and asset class

Country by domicile

Country weights in DYNF and LCTU, widest gap first
Country	More in DYNFMore in LCTU	DYNF	LCTU
United States	DYNF +0.2 points	100.0%	99.8%
Mexico	LCTU +0.1 points	0.0%	0.1%
Brazil	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

DYNF40.4%
LCTU33.7%

Securities held

DYNF262
LCTU320

Asset class

DYNF: Equity
LCTU: Equity

Holdings

Only in DYNF102
In both160
Only in LCTU160

Only in DYNF

102 securities, 10.8% of DYNF by weight

Duke Energy Corp1.07%
Welltower0.92%
Realty Income Reit0.73%
Cme Group Class A0.71%
Amphenol Corp Class A0.70%
AT&T0.64%
American International Group0.62%
Space Exploration Technologies Cor0.58%
Philip Morris International0.30%
General Motors0.28%
Lockheed Martin0.23%
Seagate Technology Holdings PLC0.21%
Exelon Corp0.21%
Procter & Gamble0.21%
Mcdonalds Corp0.21%
Host Hotels & Resorts Reit0.19%
Charles Schwab0.18%
Hca Healthcare0.16%
Union Pacific0.15%
Fedex Corp0.14%
Nucor0.14%
Cboe Global Markets0.12%
Howmet Aerospace0.12%
Texas Instrument0.12%
United Therapeutics0.11%
Dollar General Corp0.11%
American Electric Power Inc0.11%
Northrop Grumman Corp0.11%
Woodward0.10%
Comfort Systems Usa0.09%
Csx0.09%
Five Below0.09%
Citizens Financial Group Inc0.08%
Caseys General Stores Inc0.08%
Royal Caribbean Group0.07%
Neurocrine Biosciences0.06%
Archer Daniels Midland0.06%
Danaher0.06%
Sofi Technologies0.05%
Omnicom Group Inc0.05%
Halozyme Therapeutics0.05%
Mastec Inc0.04%
Cognizant Technology Solutions Cla0.04%
Biogen0.04%
Cloudflare Class A0.03%
Caci International Inc Class A0.03%
Ftai Aviation0.03%
Strategy Inc Class A0.03%
Intercontinental Exchange Inc0.02%
Leidos Holdings0.02%

Only in LCTU

160 securities, 22.9% of LCTU by weight

Ecolab0.97%
Conocophillips0.65%
Republic Services Inc0.63%
Public Service Enterprise Group0.63%
Oneok0.59%
Assurant Inc0.57%
Nasdaq Inc0.55%
S&P Global0.50%
Edwards Lifesciences0.48%
Emerson Electric0.46%
Eversource Energy0.46%
Colgate-Palmolive0.45%
Live Nation Entertainment0.44%
Kla0.41%
Kkr and Co Inc0.37%
Baker Hughes Class A0.36%
T Mobile Us Inc0.34%
Ebay0.33%
Cencora0.31%
Veeva Systems Class A0.30%
Church and Dwight Inc0.30%
Avery Dennison Corp0.29%
Synopsys0.28%
Aecom0.27%
Mondelez International Class A0.27%
Cadence Design Systems0.27%
Agilent Technologies Inc0.26%
Starbucks Corp0.26%
Jacobs Solutions Inc0.26%
Ball Corp0.25%
Cbre Group Class A0.25%
East West Bancorp0.25%
Cincinnati Financial0.25%
Ford Motor Co0.24%
Paychex0.22%
Sysco0.21%
Chipotle Mexican Grill0.21%
Expeditors International of Washin0.20%
Etsy0.20%
Gen Digital0.19%
Hershey Foods0.19%
Equinix Reit0.19%
Best Buy0.18%
Toast Class A0.18%
Nisource0.18%
Doordash Class A0.18%
Clorox0.18%
Ametek Inc0.17%
Natera0.17%
Block Class A0.17%

Weight gaps

The 100 widest of 160 Holdings in both funds.

Holding weights in DYNF and LCTU, widest gap first
Holding	More in DYNFMore in LCTU	DYNF	LCTU
Exxonmobil Holdings CorpXOM	DYNF +2.54 points	3.18%	0.64%
JPMorgan Chase & CoJPM	DYNF +2.36 points	3.39%	1.03%
Travelers CompaniesTRV	DYNF +1.53 points	1.60%	0.07%
ChevronCVX	DYNF +1.53 points	1.71%	0.18%
Johnson & JohnsonJNJ	DYNF +1.37 points	2.04%	0.67%
SalesforceCRM	DYNF +1.29 points	1.57%	0.28%
Parker-HannifinPH	DYNF +1.23 points	1.28%	0.05%
CitigroupC	DYNF +1.19 points	1.35%	0.16%
Allstate CorpALL	DYNF +1.04 points	1.14%	0.10%
Amazon.com IncAMZN	DYNF +1.00 points	4.00%	3.00%
Mastercard Class AMA	LCTU +0.96 points	0.07%	1.03%
Cisco Systems IncCSCO	DYNF +0.94 points	1.54%	0.60%
Bank of AmericaBAC	DYNF +0.89 points	2.13%	1.24%
PepsicoPEP	LCTU +0.85 points	0.11%	0.96%
Lam ResearchLRCX	DYNF +0.83 points	1.26%	0.43%
Prologis ReitPLD	LCTU +0.81 points	0.26%	1.07%
Home DepotHD	LCTU +0.78 points	0.02%	0.80%
Caterpillar IncCAT	DYNF +0.77 points	1.31%	0.54%
AppleAAPL	DYNF +0.74 points	8.27%	7.53%
Amgen IncAMGN	LCTU +0.57 points	0.05%	0.62%
NVIDIANVDA	DYNF +0.56 points	7.83%	7.27%
NewmontNEM	DYNF +0.56 points	0.62%	0.06%
Applied Material IncAMAT	DYNF +0.53 points	1.05%	0.52%
Broadcom IncAVGO	DYNF +0.50 points	2.40%	1.90%
Hartford Insurance GroupHIG	DYNF +0.48 points	0.57%	0.09%
Bank of New York Mellon CorpBNY	LCTU +0.47 points	0.12%	0.59%
Nextera EnergyNEE	DYNF +0.47 points	0.51%	0.04%
Analog DevicesADI	LCTU +0.46 points	0.05%	0.51%
Goldman Sachs GroupGS	DYNF +0.43 points	1.05%	0.62%
AutodeskADSK	LCTU +0.42 points	0.02%	0.44%
Paccar IncPCAR	LCTU +0.41 points	0.00%	0.41%
Coca-ColaKO	LCTU +0.40 points	0.07%	0.47%
MicrosoftMSFT	LCTU +0.36 points	4.78%	5.14%
Merck & Co IncMRK	LCTU +0.35 points	0.02%	0.37%
Valero Energy CorpVLO	DYNF +0.35 points	0.47%	0.12%
Elevance Health IncELV	LCTU +0.35 points	0.01%	0.36%
Trane Technologies PLCTT	DYNF +0.34 points	0.51%	0.17%
Meta Platforms Class AMETA	DYNF +0.34 points	2.37%	2.03%
Palo Alto NetworksPANW	LCTU +0.33 points	0.25%	0.58%
Gilead SciencesGILD	LCTU +0.33 points	0.54%	0.87%
Abbott LaboratoriesABT	LCTU +0.32 points	0.02%	0.34%
Verizon Communications IncVZ	DYNF +0.29 points	0.75%	0.46%
Western Digital CorpWDC	DYNF +0.29 points	0.40%	0.11%
Micron TechnologyMU	DYNF +0.28 points	1.70%	1.42%
Arista NetworksANET	LCTU +0.28 points	0.06%	0.34%
Las Vegas SandsLVS	LCTU +0.27 points	0.00%	0.27%
Crh Public Limited PLCCRH	LCTU +0.27 points	0.08%	0.35%
Medtronic PLCMDT	DYNF +0.26 points	0.33%	0.07%
ProgressivePGR	DYNF +0.27 points	0.32%	0.05%
Thermo Fisher ScientificTMO	DYNF +0.25 points	0.66%	0.41%
Capital One Financial CorpCOF	LCTU +0.24 points	0.12%	0.36%
Johnson Controls International PLCJCI	LCTU +0.24 points	0.03%	0.27%
Palantir Technologies Class APLTR	DYNF +0.24 points	0.73%	0.49%
Uber TechnologiesUBER	LCTU +0.23 points	0.13%	0.36%
PfizerPFE	LCTU +0.22 points	0.30%	0.53%
American ExpressAXP	LCTU +0.22 points	0.00%	0.22%
Vici Pptys IncVICI	LCTU +0.22 points	0.02%	0.24%
Advanced Micro DevicesAMD	DYNF +0.22 points	1.54%	1.32%
SempraSRE	LCTU +0.21 points	<0.01%	0.21%
Illumina IncILMN	LCTU +0.21 points	0.01%	0.22%
Vertex PharmaceuticalsVRTX	LCTU +0.20 points	0.06%	0.26%
Berkshire Hathaway Inc Class BBRK.B	LCTU +0.20 points	1.06%	1.26%
RtxRTX	DYNF +0.20 points	1.12%	0.92%
HumanaHUM	LCTU +0.19 points	0.02%	0.21%
CorningGLW	DYNF +0.19 points	0.33%	0.14%
Edison InternationalEIX	LCTU +0.19 points	0.00%	0.19%
SandiskSNDK	LCTU +0.18 points	0.05%	0.23%
DeereDE	DYNF +0.18 points	0.55%	0.37%
Target CorpTGT	LCTU +0.18 points	0.03%	0.21%
Keysight TechnologiesKEYS	LCTU +0.18 points	0.03%	0.21%
Costco Wholesale CorpCOST	LCTU +0.18 points	0.22%	0.40%
Nike Class BNKE	LCTU +0.17 points	0.01%	0.18%
Marathon PetroleumMPC	LCTU +0.17 points	0.00%	0.17%
Cheniere EnergyLNG	LCTU +0.16 points	0.00%	0.16%
UnitedHealth GroupUNH	LCTU +0.16 points	0.47%	0.63%
AbbVieABBV	DYNF +0.17 points	0.49%	0.32%
Yum BrandsYUM	LCTU +0.16 points	0.00%	0.16%
Intuitive SurgicalISRG	DYNF +0.16 points	0.22%	0.06%
WalmartWMT	DYNF +0.15 points	1.14%	0.99%
Airbnb Class AABNB	LCTU +0.15 points	0.06%	0.21%
Monolithic Power Systems IncMPWR	LCTU +0.15 points	0.02%	0.17%
Crowdstrike Holdings Class ACRWD	LCTU +0.15 points	0.19%	0.34%
Ge AerospaceGE	LCTU +0.14 points	0.48%	0.62%
Visa Class AV	DYNF +0.14 points	0.42%	0.28%
Alphabet Class CGOOG	DYNF +0.14 points	1.71%	1.57%
Eli LillyLLY	LCTU +0.12 points	1.52%	1.64%
TapestryTPR	LCTU +0.13 points	0.04%	0.17%
Ge VernovaGEV	DYNF +0.13 points	0.51%	0.38%
Okta Class AOKTA	LCTU +0.12 points	0.02%	0.14%
Tesla IncTSLA	DYNF +0.11 points	1.72%	1.61%
Regeneron PharmaceuticalsREGN	DYNF +0.11 points	0.22%	0.11%
FortinetFTNT	LCTU +0.11 points	0.06%	0.17%
Cummins IncCMI	LCTU +0.11 points	0.05%	0.16%
State StreetSTT	DYNF +0.11 points	0.12%	0.01%
ServicenowNOW	DYNF +0.11 points	0.35%	0.24%
TjxTJX	LCTU +0.10 points	0.03%	0.13%
QualcommQCOM	LCTU +0.11 points	0.10%	0.21%
Mckesson CorpMCK	LCTU +0.10 points	0.20%	0.30%
Applovin Class AAPP	DYNF +0.09 points	0.14%	0.04%
Robinhood Markets Class AHOOD	LCTU +0.10 points	0.06%	0.16%

All 262 DYNF holdings⁠All 320 LCTU 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 LCTU Cost

Overpaying DYNF vs LCTU

$2,221

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

DYNF 0.26%
$5,358
LCTU 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

DYNF 0.26%
LCTU 0.15%
Overpaying

Year by year

Year	DYNF	LCTU	Overpaying
10	$473	$274	$199
20	$1,838	$1,071	$767
30	$5,358	$3,137	$2,221

Expense ratio

0.26%DYNF
0.15%LCTU, cheaper

LCTU0.15%DYNF0.26%

0.00%2.89%

Middle half of US Active Equity funds
Median 0.68%

LCTU 6th cheapest of 121 funds

DYNF 18th cheapest of 121 funds

DYNF vs LCTU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DYNF 0.84%; LCTU 0.97%, better
Payout (12M): DYNF $0.56; LCTU $0.79
Last payment: DYNF $0.14; LCTU $0.20
Ex-dividend: DYNF Sep 15, 2026; LCTU Sep 15, 2026
Paid on: DYNF Sep 18, 2026; LCTU Sep 18, 2026
Frequency: DYNF Quarterly; LCTU Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

DYNFQuarterly · 30 paymentsAll DYNF payments⁠

LCTUQuarterly · 22 paymentsAll LCTU payments⁠

DYNF vs LCTU Risk

Fall from peak · 5 years

DYNF
LCTU

Risk facts

VolatilityStd dev, 3 years: DYNF 13.1%LCTU 12.5%, better
Return per unit of riskSharpe ratio, 3 years: DYNF 1.55, betterLCTU 1.33
Worst fallMax drawdown, 5 years: DYNF −26.9%LCTU −25.9%, better
Market sensitivityBeta, 5 years: DYNF 1.02LCTU 1.01; Market = 1

DYNF and LCTU in the news

All news⁠

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

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DYNF vs LCTU

In short

Stated mandate

Why people hold it

Worth knowing

How DYNF and LCTU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in LCTU

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 LCTU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DYNF

Only in LCTU

Weight gaps