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IEO vs PBOG

iShares U.S. Oil & Gas Exploration & Production ETF

IEOBCboe

Portfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETF

PBOGBNasdaq

Overlap

21.1%by weight

Expense ratio

PBOG −0.24pt a year

IEO0.37%PBOG0.13%

Avg volume · 30D

IEO 1.6×the volume

IEO119KPBOG73.2K

IEO vs PBOG Performance

Dec 31, 2025 – Oct 30, 2026

+71.5%IEO+56.3%PBOG

Dec 31, 2025 to Oct 30, 2026. IEO +71.5%. PBOG +56.3%. Use the arrow keys to read each point.0%20%40%Dec 2025Jun 2026Oct 2026
Expense ratio
IEO 0.37%
PBOG 0.13%, better
Fund size
IEO $937M
PBOG $520M
1Y total return
IEO +72.6%
PBOG No data
Yield (12M)
IEO 1.45%
PBOG No data
Holdings
IEO 49
PBOG 38
Avg volume (30D)
IEO 119K sh, better
PBOG 73.2K sh
NAV per share
IEO $151.11
PBOG $38.72
52W range

ETF.net Grade

IEO: Cost 60, Risk 52, Mission 68, Tradability 65, Holdings 36, Durability 67. PBOG: Cost 94, Risk 50, Mission not scored, Tradability 33, Holdings 22, Durability 23.
Pillar letters and Scores for IEO, PBOG, with each pillar’s weight
PillarIEOPBOG
Cost30% weightB60A94Higher
Mission25% weightB68Not scored
Risk15% weightC52HigherC50
Tradability15% weightB65HigherD33
Holdings10% weightD36HigherF22
Durability5% weightB67HigherF23

Rank among Oil & Gas Producers funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IEO and PBOG are both graded against the same 10 Oil & Gas Producers funds, so their Grades compare head to head.

Oil & Gas Producers⁠

Category · 10 funds
See all 10 ›

IEO ranks 4th and PBOG 5th of 10 funds in the Oil & Gas Producers Category.

  1. Rank 1AXOPState Street SPDR S&P Oil & Gas Exploration & Production ETFScore 73
  2. Rank 2BFTXNFirst Trust Nasdaq Oil & Gas ETFScore 60
  3. Rank 2BOIHVanEck Oil Services ETFScore 60
  4. Rank 4BIEOiShares U.S. Oil & Gas Exploration & Production ETFScore 59
  5. Rank 5BPBOGPortfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETFScore 58
  6. Rank 6CTPYPTortoise North American Pipeline ETFScore 51

Our read on each fund

ETF.net Research

IEOBiShares U.S. Oil & Gas Exploration & Production ETF

PBOGBPortfolio Building Block Integrated Oil and Gas and Exploration and Production Index ETF

In short

IEO One of the original ways to own U.S. upstream energy: since 2006 this iShares fund has tracked a single index of about 50 American oil and gas exploration and production stocks. Pure upstream, pure U.S.

PBOG Oil majors and the wildcatters in one ticker for 0.13% a year. A late-2025 launch from a lineup designed as portfolio slices, and the cheapest door into this corner of energy among its peers.

Stated mandate

IEO The Fund seeks to track an index of U.S. equities in the oil and gas exploration and production sector. It uses a sampling-based indexing approach and normally invests at least 80% of net assets in components of the Underlying Index.

PBOG The Fund is an actively managed exchange-traded fund that seeks capital appreciation.

Why people hold it

  • IEO Tight mandate: at least 80% of net assets sit in components of the Dow Jones U.S. Select Oil Exploration & Production Index. Upstream U.S. energy, not a mixed energy basket.ishares.com
  • About 50 holdings: concentrated enough to move with drilling economics, broad enough that one blown-up producer is not the whole story.
  • Trading since 2006, so its index record spans multiple oil cycles, with the iShares platform running the plumbing.
  • Producer dividends are passed along on a quarterly schedule.
  • PBOG Charges 0.13% a year against a 0.37% median for its oil and gas peer group. The other top-ranked funds in that group (XOP, OIH, IXC, IEO) all charge 0.35% or more.
  • Covers both sides of the barrel: integrated majors plus exploration and production names. XOP and IEO stay on the E&P side; OIH holds the service companies.
  • Pulled in hundreds of millions of dollars within months of launch, one of three Portfolio Building Block ETFs Nasdaq began listing in November 2025.nasdaqtrader.com

Worth knowing

  • IEO The 0.37% fee sits right at the middle of the E&P shelf: XOP and OIH charge 0.35%, PBOG 0.13%.
  • One country, one sector, about 50 stocks. Crude and gas price swings pass straight through to the portfolio.
  • Moderately traded rather than the busiest ticker in the category, which can matter on larger orders.
  • PBOG Launched in November 2025, so the track record is thin and any read on its risk profile rests on a short window.
  • One sector, one commodity. When crude drops, there is nothing else in the basket to cushion it.
  • Volume is moderate rather than deep, so spreads can widen around the open and close. Limit orders earn their keep.

Full IEO profile⁠

Full PBOG profile⁠

IEO vs PBOG Holdings

How IEO and PBOG differ

Overlap by weight

21.1%

Shared holdings make up 49.1% of IEO and 21.1% of PBOG.

Level by level

  • Holdings10 in both21.1%
  • Countryby domicile55.8%
  • Asset classEquity100%

Sector

No Sector split for PBOG.

Country, concentration and asset class

Country by domicile

Country weights in IEO and PBOG, widest gap first
CountryMore in IEOMore in PBOG
United StatesIEO +44.2 points
CanadaPBOG +14.0 points
United KingdomPBOG +12.3 points
FrancePBOG +4.8 points
AustraliaPBOG +3.3 points
ItalyPBOG +3.1 points
NorwayPBOG +2.7 points
SpainPBOG +1.8 points
Other countries (3)PBOG +2.3 points

Outside the US: PBOG 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

  • IEO70.5%
  • PBOG68.8%

Securities held

  • IEO47
  • PBOG33

Asset class

IEO
Equity
PBOG
Equity

Holdings

  • Only in IEO37
  • In both10
  • Only in PBOG23

Only in IEO

37 securities, 50.8% of IEO by weight

  • Marathon Petroleum12.38%
  • Valero Energy Corp11.40%
  • Phillips 664.57%

Only in PBOG

23 securities, 78.7% of PBOG by weight

  • Exxonmobil Holdings Corp18.85%
  • Chevron Corp11.52%
  • Shell PLC7.58%

Weight gaps

All 10 Holdings in both funds, largest gap first.

Holding weights in IEO and PBOG, widest gap first
HoldingMore in IEOMore in PBOG
ConocophillipsCOPIEO +13.77 points
EqtEQTIEO +2.60 points
Permian Resources Class APRIEO +2.19 points
OvintivOVVIEO +1.77 points
ApaAPAIEO +1.62 points
Devon EnergyDVNIEO +1.58 points
Texas Pacific LandTPLIEO +1.51 points
Diamondback EnergyFANGIEO +1.46 points

All 47 IEO holdings⁠All PBOG 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.

IEO vs PBOG Cost

Overpaying IEO vs PBOG

$4,787

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

  • IEO 0.37%

    $7,513

  • PBOG 0.13%

    $2,726

$10,000
30 years

Cost over time

  • IEO 0.37%
  • PBOG 0.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530IEO $7,513PBOG $2,726

Year by year

YearIEOPBOGOverpaying
10$670$238$432
20$2,590$930$1,660
30$7,513$2,726$4,787

Expense ratio

  • 0.37%IEO
  • 0.13%PBOG, cheaper
  • Middle half of Oil & Gas Producers funds
  • Median 0.39%

PBOG cheapest of 10 funds

IEO 4th cheapest of 10 funds

IEO vs PBOG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IEO 1.45%
PBOG No data
Payout (12M)
IEO $2.19
PBOG No data
Last payment
IEO $0.49
PBOG $0.04
Ex-dividend
IEO Sep 15, 2026
PBOG Dec 24, 2025
Paid on
IEO Sep 18, 2026
PBOG Dec 26, 2025
Frequency
IEO Quarterly
PBOG Irregular

Distribution history

Per share, 2017 to 2026, same scale for both

IEOQuarterly · 39 paymentsAll IEO payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.13; Jun 27, 2017 $0.17; Sep 26, 2017 $0.15; Dec 19, 2017 $0.16; Mar 22, 2018 $0.18; Jun 26, 2018 $0.17; Sep 26, 2018 $0.17; Dec 17, 2018 $0.34; Mar 20, 2019 $0.23; Jun 17, 2019 $0.24; Sep 24, 2019 $0.25; Dec 16, 2019 $0.31; Mar 25, 2020 $0.30; Jun 15, 2020 $0.19; Sep 23, 2020 $0.43; Dec 14, 2020 $0.22; Mar 25, 2021 $0.26; Jun 10, 2021 $0.21; Sep 24, 2021 $0.57; Dec 13, 2021 $0.57; Mar 24, 2022 $0.57; Jun 9, 2022 $0.58; Sep 26, 2022 $1.22; Dec 13, 2022 $1.14; Mar 23, 2023 $0.79; Jun 7, 2023 $0.55; Sep 26, 2023 $0.50; Dec 20, 2023 $0.97; Mar 21, 2024 $0.59; Jun 11, 2024 $0.51; Sep 25, 2024 $0.73; Dec 17, 2024 $0.53; Mar 18, 2025 $0.53; Jun 16, 2025 $0.53; Sep 16, 2025 $0.64; Dec 16, 2025 $0.64; Mar 17, 2026 $0.55; Jun 15, 2026 $0.51; Sep 15, 2026 $0.49. Use the arrow keys to read each point.$0$12017202020232026YTD
PBOGIrregular · 1 paymentAll PBOG payments⁠
One bar per payment. 1 payment from 2017 to 2026 YTD. Dec 24, 2025 $0.04. Use the arrow keys to read each point.$0$12017202020232026YTD

IEO vs PBOG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IEO 23.9%PBOG No data
Return per unit of riskSharpe ratio, 3 years
IEO 0.65PBOG No data
Worst fallMax drawdown, 5 years
IEO −31.4%PBOG No data
Market sensitivityBeta, 5 years
IEO −0.11PBOG −1.00

IEO and PBOG in the news

All news⁠

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