OEF vs TOPT: Grades, Fees and Holdings Compared

iShares S&P 100 ETF

OEFBNYSE Arca

iShares Top 20 U.S. Stocks ETF

TOPTCNYSE Arca

Overlap

65.3%by weight

Expense ratio

OEF0.20%TOPT0.20%

Avg volume · 30D

TOPT 1.9×the volume

OEF220KTOPT413K

OEF vs TOPT Performance

Oct 31, 2025 – Oct 30, 2026

+9.1%OEF+8.5%TOPT

Expense ratio: OEF 0.20%; TOPT 0.20%
Fund size: OEF $20B; TOPT $725M
1Y total return: OEF +9.1%, better; TOPT +8.5%
Yield (12M): OEF 0.87%, better; TOPT 0.36%
Holdings: OEF 104; TOPT 24
Avg volume (30D): OEF 220K sh; TOPT 413K sh, better
NAV per share: OEF $373.25; TOPT $34.01
52W range

ETF.net Grade

Pillar letters and Scores for OEF, TOPT, with each pillar’s weight
Pillar	OEF	TOPT
Cost30% weight	D39	D39
Mission25% weight	A98Higher	A75
Risk15% weight	D37Higher	D26
Tradability15% weight	A72Higher	B67
Holdings10% weight	C41Higher	F22
Durability5% weight	A83Higher	C40

Rank among US Mega-Cap funds

How we build Categories ›

Same Category. OEF and TOPT are both graded against the same 6 US Mega-Cap funds, so their Grades compare head to head.

US Mega-Cap⁠

Category · 6 funds

See all 6 ›

OEF ranks 4th and TOPT 5th of 6 funds in the US Mega-Cap Category.

Rank 1AMGCVanguard Morningstar Mega Cap ETFScore 74
Rank 2BUSMCPrincipal U.S. Mega-Cap ETFScore 69
Rank 3BBBLUEA Bridgeway Blue Chip ETFScore 64
Rank 4BOEFiShares S&P 100 ETFScore 60
Rank 5CTOPTiShares Top 20 U.S. Stocks ETFScore 48
Rank 6DSIXAETC 6 Meridian Mega Cap Equity ETFScore 36

Our read on each fund

ETF.net Research

OEFBiShares S&P 100 ETF

TOPTCiShares Top 20 U.S. Stocks ETF

In short

OEF The S&P 500's inner circle. OEF has held about 100 U.S. mega-caps since 2000, a plain index fund that owns the giants and skips everything below them.

TOPT Most mega-cap funds hold hundreds of names. TOPT holds twenty: an index of the largest U.S. companies, and nothing behind them. It is the most concentrated way iShares sells the giants.

Stated mandate

OEF The fund seeks to track an index composed of 100 U.S. mega-cap stocks.

TOPT The fund seeks to track an index composed of the 20 largest U.S. companies by market capitalization.

Why people hold it

OEF Launched in 2000, one of the longest-running mega-cap index funds around, and now a multi-billion-dollar fund.
Tracks the S&P 100 Index with very little slippage, which is the whole job of a fund like this.
No leverage, no derivatives overlay: a standard 1940 Act stock fund holding about 100 U.S. mega-caps, paying out quarterly.

TOPT Twenty holdings, one ticker. It tracks an index of the 20 largest U.S. companies by market value, so you get the giants without picking among them.
The 0.20% fee sits right at the median for mega-cap funds, and matches iShares' 100-stock OEF for a far more concentrated slice of the same universe.
Membership is set by S&P index rules, not a manager's judgment, and the fund distributes quarterly.

Worth knowing

OEF At 0.20% a year, it costs four times the 0.05% Vanguard charges on mega-cap rivals MGC and MGK.
About 100 names, weighted by size, means the handful of largest U.S. companies set the tone. Concentration is the design, not a bug.
Moderately traded rather than the busiest ticker in mega-cap land, so limit orders earn their keep in fast markets.

TOPT With 20 names, the top few positions steer results in both directions, and the sector mix is simply whatever happens to be biggest.
Broader mega-cap exposure costs less elsewhere: MGC and MGK charge 0.05%.
Launched in October 2024, so there is only a short record to judge it by.

Full OEF profile⁠

Full TOPT profile⁠

OEF vs TOPT Holdings

How OEF and TOPT differ

Overlap by weight

65.3%

Shared holdings make up 100% of TOPT and 67.2% of OEF.

Level by level

Holdings21 in both65.3%
Sector21 Sectors84.6%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in OEF and TOPT, widest gap first
Sector	More in OEFMore in TOPT	OEF	TOPT
Semiconductors & Semiconductor Equipment	TOPT +8.1 points	21.3%	29.4%
Capital Goods	OEF +3.7 points	3.7%	0.0%
Tech Hardware & Equip	TOPT +2.7 points	12.3%	15.0%
Food Bevg Tobacco	OEF +2.1 points	2.1%	0.0%
Autos & Components	TOPT +1.9 points	2.5%	4.4%
Health Care Equipment & Services	OEF +1.9 points	1.9%	0.0%
Financials	TOPT +1.5 points	6.9%	8.4%
Consumer Discretionary	OEF +1.5 points	5.9%	4.4%
Pharma, Biotech & Life Sciences	TOPT +1.0 points	7.5%	8.5%
Telecommunications	OEF +1.0 points	1.0%	0.0%
Transportation	OEF +0.9 points	0.9%	0.0%
Media & Entertainment	OEF +0.9 points	10.6%	9.7%
Consumer Services	OEF +0.8 points	0.8%	0.0%
Utilities	OEF +0.8 points	0.8%	0.0%
Household & Personal Prod	OEF +0.8 points	0.8%	0.0%
Materials	OEF +0.5 points	0.5%	0.0%
Software & Services	OEF +0.2 points	12.0%	11.8%
Real Estate	OEF +0.2 points	0.2%	0.0%
Banks	OEF +0.1 points	3.6%	3.5%
Energy	TOPT +0.1 points	2.8%	2.9%
Consumer Staples Distribution & Retail	Same weight	2.0%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in OEF and TOPT, widest gap first
Country	More in OEFMore in TOPT	OEF	TOPT
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

OEF50.8%
TOPT71.9%

Securities held

OEF101
TOPT21

Asset class

OEF: Equity
TOPT: Equity

Holdings

Only in OEF80
In both21
Only in TOPT0

Only in OEF

80 securities, 32.8% of OEF by weight

Chevron0.97%
Costco Wholesale Corp0.94%
Palantir Technologies Class A0.88%
Cisco Systems Inc0.86%
Procter & Gamble0.78%
Merck & Co Inc0.77%
UnitedHealth Group0.76%
Coca-Cola0.76%
Home Depot0.68%
Philip Morris International0.68%
Bank of America0.68%
Ge Aerospace0.65%
Applied Material Inc0.65%
Lam Research0.62%
Palo Alto Networks0.62%
Caterpillar Inc0.60%
Texas Instrument0.57%
Rtx0.56%
Goldman Sachs Group0.54%
Netflix0.54%
Thermo Fisher Scientific0.54%
Wells Fargo0.53%
Amgen Inc0.53%
International Business Machines Co0.51%
Linde PLC0.49%
Ge Vernova0.48%
Oracle0.47%
Morgan Stanley0.46%
Gilead Sciences0.44%
Citigroup0.43%
Walt Disney0.40%
Salesforce0.39%
Pepsico0.39%
Verizon Communications Inc0.39%
Conocophillips0.39%
Abbott Laboratories0.38%
Mcdonalds Corp0.38%
Union Pacific0.38%
Arista Networks0.37%
Qualcomm0.37%
Nextera Energy0.36%
Pfizer0.36%
Deere0.35%
American Express0.35%
Sandisk0.35%
BlackRock0.34%
Accenture PLC Class A0.33%
Intuitive Surgical0.32%
AT&T0.31%
Danaher0.30%

Only in TOPT

0 securities, 0.0% of TOPT by weight

Weight gaps

All 21 Holdings in both funds, largest gap first.

Holding weights in OEF and TOPT, widest gap first
Holding	More in OEFMore in TOPT	OEF	TOPT
AppleAAPL	TOPT +4.95 points	10.49%	15.44%
NVIDIANVDA	TOPT +4.87 points	10.33%	15.20%
MicrosoftMSFT	TOPT +3.80 points	8.09%	11.89%
Eli LillyLLY	TOPT +2.15 points	2.37%	4.52%
Tesla IncTSLA	TOPT +2.13 points	2.35%	4.48%
Berkshire Hathaway Inc Class BBRK.B	TOPT +1.91 points	2.11%	4.02%
Micron TechnologyMU	TOPT +1.79 points	2.08%	3.87%
JPMorgan Chase & CoJPM	TOPT +1.70 points	1.87%	3.57%
Advanced Micro DevicesAMD	TOPT +1.56 points	1.72%	3.28%
Exxonmobil Holdings CorpXOM	TOPT +1.45 points	1.61%	3.06%
Meta Platforms Class AMETA	TOPT +1.39 points	2.83%	4.22%
Visa Class AV	TOPT +1.33 points	1.47%	2.80%
Johnson & JohnsonJNJ	TOPT +1.25 points	1.37%	2.62%
WalmartWMT	TOPT +1.04 points	1.15%	2.19%
AbbVieABBV	TOPT +0.98 points	1.09%	2.07%
Mastercard Class AMA	TOPT +0.97 points	1.08%	2.05%
Broadcom IncAVGO	TOPT +0.78 points	3.24%	4.02%
Amazon.com IncAMZN	OEF +0.65 points	4.92%	4.27%
Alphabet Class AGOOGL	OEF +0.64 points	3.43%	2.79%
Intel CorporationINTC	TOPT +0.62 points	0.68%	1.30%
Alphabet Class CGOOG	OEF +0.52 points	2.76%	2.24%

All 101 OEF holdings⁠All 21 TOPT 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.

OEF vs TOPT Cost

Same expense ratio

$4,155

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

OEF 0.20%
$4,155
TOPT 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

OEF 0.20%
TOPT 0.20%

Year by year

Year	OEF	TOPT
10	$365	$365
20	$1,421	$1,421
30	$4,155	$4,155

Expense ratio

0.20%OEF
0.20%TOPT

OEF0.20%TOPT0.20%

0.05%0.46%

Middle half of US Mega-Cap funds
Median 0.17%

OEF 4th cheapest of 6 funds

TOPT 4th cheapest of 6 funds

OEF vs TOPT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): OEF 0.87%, better; TOPT 0.36%
Payout (12M): OEF $3.26; TOPT $0.12
Last payment: OEF $0.76; TOPT $0.03
Ex-dividend: OEF Sep 15, 2026; TOPT Sep 15, 2026
Paid on: OEF Sep 18, 2026; TOPT Sep 18, 2026
Frequency: OEF Quarterly; TOPT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

OEFQuarterly · 39 paymentsAll OEF payments⁠

TOPTQuarterly · 8 paymentsAll TOPT payments⁠

OEF vs TOPT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: OEF 13.5%TOPT 15.4%since Nov 2024
Return per unit of riskSharpe ratio, 3 years: OEF 1.40TOPT 0.94since Nov 2024
Worst fallMax drawdown, 5 years: OEF −26.5%TOPT −21.2%since Oct 2024
Market sensitivityBeta, 5 years: OEF 1.03TOPT 1.10; Market = 1

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