USCL vs USXF: Grades, Fees and Holdings Compared

iShares Climate Conscious & Transition MSCI USA ETF

USCLANasdaq

iShares ESG Advanced MSCI USA ETF

USXFANasdaq

Overlap

40.2%by weight

Expense ratio

USCL −0.02pt a year

USCL0.08%USXF0.10%

Avg volume · 30D

USXF 4.7×the volume

USCL13.1KUSXF62.1K

3Y return · a year

USXF +3.9pt

USCL+20.1%USXF+24.0%

USCL vs USXF Performance

Oct 31, 2025 – Nov 2, 2026

+6.7%USCL+10.9%USXF

Expense ratio: USCL 0.08%, better; USXF 0.10%
Fund size: USCL $2.77B; USXF $1.41B
1Y total return: USCL +6.7%; USXF +10.9%, better
Yield (12M): USCL 1.07%, better; USXF 0.89%
Holdings: USCL 394; USXF 284
Avg volume (30D): USCL 13.1K sh; USXF 62.1K sh, better
NAV per share: USCL $85.14; USXF $65.20
52W range

ETF.net Grade

Pillar letters and Scores for USCL, USXF, with each pillar’s weight
Pillar	USCL	USXF
Cost30% weight	A99Higher	A86
Mission25% weight	Not scored	A85
Risk15% weight	C52Higher	D33
Tradability15% weight	A70	A84Higher
Holdings10% weight	D35	C51Higher
Durability5% weight	A70Higher	B68

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. USCL and USXF are both graded against the same 47 US ESG & Values Index funds, so their Grades compare head to head.

US ESG & Values Index⁠

Category · 47 funds

See all 47 ›

USCL ranks 8th and USXF 8th of 47 funds in the US ESG & Values Index Category.

Rank 8AEVUSiShares ESG Aware MSCI USA Value ETFScore 73
Rank 8AUSCLiShares Climate Conscious & Transition MSCI USA ETFScore 73
Rank 8AUSXFiShares ESG Advanced MSCI USA ETFScore 73
Rank 11AESGVVanguard ESG U.S. Stock ETFScore 72

Our read on each fund

ETF.net Research

USCLAiShares Climate Conscious & Transition MSCI USA ETF

USXFAiShares ESG Advanced MSCI USA ETF

In short

USCL Most ESG index funds work by exclusion. USCL scores roughly 400 US large and mid caps on where they're heading instead: emissions intensity, reduction targets, green revenue. And it charges 0.08% a year to do it.

USXF The strict end of the iShares US ESG shelf. It follows an MSCI index built on favorable ESG ratings plus deep exclusion screens, cutting the US large- and mid-cap market to about 300 names, and charges 0.10% to do it.

Stated mandate

USCL The Fund seeks to track an index of U.S. large- and mid-capitalization companies selected for their relative positioning on the transition to a low-carbon economy, using climate-related measures such as emissions intensity, reduction targets, green-business revenue, and climate-risk management.

USXF The fund seeks to track a U.S. large- and mid-cap equity index whose constituents have favorable environmental, social, and governance ratings and pass extensive controversial-activity screens.

Why people hold it

USCL At 0.08% a year, it matches the cheapest fund in its ESG cohort (XVV) and undercuts ESGV, SNPE, EFIV and ESGU.ishares.com
The index doesn't just screen out offenders. It selects on transition evidence: emissions intensity, reduction targets, green-business revenue, climate-risk management.ishares.com
About 400 US large and mid caps, so it reads as core equity exposure with a climate tilt, not a narrow clean-energy sector bet.
A multi-billion-dollar iShares fund that sticks tightly to the MSCI USA Extended Climate Action Index, one of the cleaner implementations in its peer group.

USXF Charges 0.10% a year, under half the typical fee in its ESG-screened US peer group and below its bigger iShares sibling ESGU at 0.15%.
The screens bite. The MSCI USA Choice ESG Screened Index asks for favorable ESG ratings and extensive controversial-activity exclusions, not a light tilt.ishares.com
Ends up a focused book of about 300 US large- and mid-caps, so the screening shows up in what you actually own.
A billion-dollar-plus iShares fund that pays quarterly, launched in 2020, with a plain index structure: no leverage, no options overlay.

Worth knowing

USCL Trading is thin for a fund this size, so spreads can widen. Limit orders are the standard tool here.
Climate scoring reshapes the sector and name mix, so results can diverge from a plain US large-cap index in either direction.
Launched in 2023, so its history is short next to the older ESG funds it competes with.

USXF Roughly 300 names against the full US market leaves real sector and single-stock gaps, and stretches where it moves differently from a broad index fund.
Moderately traded rather than a headline-volume ETF, so spreads are worth a look on larger or hurried orders.
ESG here is MSCI's definition, set by its ratings thresholds and exclusion lists, and index methodology can be revised over time.

Full USCL profile⁠

Full USXF profile⁠

USCL vs USXF Holdings

How USCL and USXF differ

Overlap by weight

40.2%

Shared holdings make up 92.6% of USXF and 40.2% of USCL.

Level by level

Holdings227 in both40.2%
Sector11 Sectors77.8%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in USCL and USXF, widest gap first
Sector	More in USCLMore in USXF	USCL	USXF
Technology	USXF +11.0 points	41.8%	52.8%
Communication	USCL +8.6 points	10.5%	1.9%
Financials	USXF +7.6 points	9.6%	17.2%
Consumer Discretionary	USCL +3.7 points	9.7%	6.0%
Health Care	USCL +3.3 points	10.6%	7.3%
Consumer Staples	USCL +3.1 points	4.2%	1.1%
Energy	USCL +2.1 points	2.1%	0.0%
Real Estate	USXF +1.9 points	1.7%	3.6%
Utilities	USCL +1.5 points	1.6%	0.1%
Materials	USXF +0.8 points	1.6%	2.4%
Industrials	USXF +0.8 points	6.8%	7.6%

Country, concentration and asset class

Country by domicile

Country weights in USCL and USXF, widest gap first
Country	More in USCLMore in USXF	USCL	USXF
United States	USCL +0.9 points	99.3%	98.4%
Other countries (7)	USXF +0.9 points	0.7%	1.6%

Concentration

Weight in the 10 largest Holdings

USCL44.8%
USXF36.4%

Securities held

USCL391
USXF281

Asset class

USCL: Equity
USXF: Equity

Holdings

Only in USCL164
In both227
Only in USXF54

Only in USCL

164 securities, 59.8% of USCL by weight

Apple9.51%
Microsoft6.92%
Amazon.com Inc4.37%
Alphabet Class A3.08%
Meta Platforms Class A2.54%
Alphabet Class C2.44%
Tesla Inc2.15%
Eli Lilly2.13%
JPMorgan Chase & Co1.26%
Johnson & Johnson1.24%
Walmart1.02%
AbbVie0.98%
Palantir Technologies Class A0.75%
Exxonmobil Holdings Corp0.73%
Procter & Gamble0.71%
UnitedHealth Group0.69%
Merck & Co Inc0.69%
Coca-Cola0.68%
Netflix0.49%
Amgen Inc0.47%
Bank of America0.46%
Ge Aerospace0.44%
Costco Wholesale Corp0.42%
Chevron0.41%
Caterpillar Inc0.40%
Gilead Sciences0.40%
Goldman Sachs Group0.37%
Pepsico0.35%
Mcdonalds Corp0.35%
Salesforce0.34%
International Business Machines Co0.34%
Union Pacific0.34%
Nextera Energy0.33%
Pfizer0.33%
Morgan Stanley0.31%
Walt Disney0.27%
Abbott Laboratories0.26%
Wells Fargo0.24%
Starbucks Corp0.22%
Uber Technologies0.22%
Ge Vernova0.22%
Intuitive Surgical0.22%
Newmont0.21%
Citigroup0.20%
Amphenol Corp Class A0.18%
Csx0.18%
Conocophillips0.18%
Waste Management Inc0.18%
Medtronic PLC0.17%
Emerson Electric0.17%

Only in USXF

54 securities, 7.4% of USXF by weight

Texas Instrument1.13%
Tjx0.64%
Hca Healthcare0.30%
Air Products and Chemicals0.28%
Bloom Energy Class A0.23%
Applovin Class A0.22%
Autozone0.21%
Roper Technologies0.19%
Carvana Class A0.18%
Crown Castle Inc0.16%
D R Horton0.15%
Sunbelt Rentals Holdings Inc0.14%
Strategy Inc Class A0.14%
Resmed0.14%
Axon Enterprise0.13%
Dollar General Corp0.12%
Cincinnati Financial0.12%
Mongodb Class A0.11%
Royalty Pharma PLC Class A0.11%
Raymond James0.11%
Ares Management Class A0.11%
Copart Inc0.11%
Synchrony Financial0.10%
Darden Restaurants Inc0.10%
Verisign0.10%
Pultegroup0.10%
Insmed0.10%
Markel Group0.10%
United Therapeutics0.09%
Zoom Communications Class A0.09%
Ati0.09%
Alnylam Pharmaceuticals0.09%
Affirm Holdings Class A0.08%
Nvent Electric PLC0.08%
Incyte Corp0.08%
Brown & Brown Inc0.08%
Skyworks Solutions0.08%
Cf Industries Holdings Inc0.08%
Ftai Aviation0.08%
Snap On Inc0.08%
Sharkninja0.07%
Ss and C Technologies Holdings0.07%
Genuine Parts0.07%
Fair Isaac0.07%
Nvr0.06%
Burlington Stores0.06%
Invitation Homes0.06%
Neurocrine Biosciences0.06%
Coeur Mining0.06%
Medline Class A0.05%

Weight gaps

The 100 widest of 227 Holdings in both funds.

Holding weights in USCL and USXF, widest gap first
Holding	More in USCLMore in USXF	USCL	USXF
Micron TechnologyMU	USXF +3.65 points	0.47%	4.12%
NVIDIANVDA	USXF +3.42 points	8.84%	12.26%
Broadcom IncAVGO	USXF +3.31 points	2.77%	6.08%
Advanced Micro DevicesAMD	USXF +1.85 points	1.55%	3.40%
Visa Class AV	USXF +1.54 points	1.29%	2.83%
Mastercard Class AMA	USXF +1.16 points	0.97%	2.13%
Cisco Systems IncCSCO	USXF +0.93 points	0.77%	1.70%
Intel CorporationINTC	USXF +0.92 points	0.27%	1.19%
Applied Material IncAMAT	USXF +0.84 points	0.44%	1.28%
Lam ResearchLRCX	USXF +0.81 points	0.42%	1.23%
Home DepotHD	USXF +0.73 points	0.62%	1.35%
Palo Alto NetworksPANW	USXF +0.67 points	0.56%	1.23%
OracleORCL	USXF +0.61 points	0.32%	0.93%
Thermo Fisher ScientificTMO	USXF +0.58 points	0.49%	1.07%
Linde PLCLIN	USXF +0.53 points	0.45%	0.98%
KlaKLAC	USXF +0.46 points	0.39%	0.85%
Analog DevicesADI	USXF +0.46 points	0.38%	0.84%
ProgressivePGR	USXF +0.43 points	0.13%	0.56%
Verizon Communications IncVZ	USXF +0.42 points	0.35%	0.77%
Arista NetworksANET	USXF +0.41 points	0.34%	0.75%
QualcommQCOM	USXF +0.39 points	0.33%	0.72%
Seagate Technology Holdings PLCSTX	USXF +0.39 points	0.20%	0.59%
BlackRockBLK	USXF +0.38 points	0.32%	0.70%
American ExpressAXP	USXF +0.38 points	0.32%	0.70%
Marvell TechnologyMRVL	USXF +0.37 points	0.32%	0.69%
Lowes Companies IncLOW	USXF +0.37 points	0.11%	0.48%
WelltowerWELL	USXF +0.37 points	0.31%	0.68%
DeereDE	USXF +0.37 points	0.31%	0.68%
Accenture PLC Class AACN	USXF +0.35 points	0.30%	0.65%
Dell Technologies Inc Class CDELL	USXF +0.35 points	0.18%	0.53%
ChubbCB	USXF +0.34 points	0.18%	0.52%
Western Digital CorpWDC	USXF +0.34 points	0.18%	0.52%
AT&TT	USXF +0.33 points	0.28%	0.61%
DanaherDHR	USXF +0.33 points	0.28%	0.61%
Pnc Financial Services GroupPNC	USXF +0.33 points	0.04%	0.37%
Charles SchwabSCHW	USXF +0.33 points	0.27%	0.60%
Capital One Financial CorpCOF	USXF +0.32 points	0.17%	0.49%
Eaton PLCETN	USXF +0.32 points	0.27%	0.59%
StrykerSYK	USXF +0.33 points	0.09%	0.41%
Vertex PharmaceuticalsVRTX	USXF +0.32 points	0.27%	0.59%
S&P GlobalSPGI	USXF +0.31 points	0.27%	0.58%
Parker-HannifinPH	USXF +0.31 points	0.16%	0.47%
Us BancorpUSB	USXF +0.29 points	0.09%	0.38%
Bristol Myers SquibbBMY	USXF +0.29 points	0.24%	0.53%
Equinix ReitEQIX	USXF +0.27 points	0.14%	0.41%
Bank of New York Mellon CorpBNY	USXF +0.27 points	0.14%	0.41%
Prologis ReitPLD	USXF +0.27 points	0.22%	0.49%
CorningGLW	USXF +0.26 points	0.14%	0.40%
Automatic Data Processing IncADP	USXF +0.26 points	0.22%	0.48%
Travelers CompaniesTRV	USXF +0.26 points	0.08%	0.34%
Regeneron PharmaceuticalsREGN	USXF +0.27 points	0.13%	0.40%
Motorola Solutions IncMSI	USXF +0.26 points	0.08%	0.34%
Booking HoldingsBKNG	USXF +0.25 points	0.22%	0.47%
Cme Group Class ACME	USXF +0.24 points	0.21%	0.45%
ServicenowNOW	USXF +0.25 points	0.20%	0.45%
Illinois Tool IncITW	USXF +0.24 points	0.07%	0.31%
Oreilly Automotive IncORLY	USXF +0.23 points	0.07%	0.30%
Ross Stores IncROST	USXF +0.23 points	0.07%	0.29%
SnowflakeSNOW	USXF +0.23 points	0.19%	0.42%
Comcast Class ACMCSA	USXF +0.22 points	0.12%	0.34%
Adobe IncADBE	USXF +0.22 points	0.19%	0.41%
Truist FinancialTFC	USXF +0.22 points	0.03%	0.25%
MarshMRSH	USXF +0.22 points	0.18%	0.40%
Intercontinental Exchange IncICE	USXF +0.21 points	0.18%	0.39%
Allstate CorpALL	USXF +0.21 points	0.07%	0.28%
IntuitINTU	USXF +0.21 points	0.18%	0.39%
Quanta Services IncPWR	USXF +0.21 points	0.17%	0.38%
Elevance Health IncELV	USXF +0.21 points	0.17%	0.38%
Trane Technologies PLCTT	USXF +0.20 points	0.17%	0.37%
Cadence Design SystemsCDNS	USXF +0.20 points	0.17%	0.37%
Hewlett Packard EnterpriseHPE	USXF +0.20 points	0.10%	0.30%
Cloudflare Class ANET	USXF +0.19 points	0.17%	0.36%
American Tower ReitAMT	USXF +0.20 points	0.16%	0.36%
Arthur J GallagherAJG	USXF +0.19 points	0.10%	0.29%
SynopsysSNPS	USXF +0.19 points	0.16%	0.35%
FortinetFTNT	USXF +0.19 points	0.16%	0.35%
Cummins IncCMI	USXF +0.18 points	0.10%	0.28%
Hilton Worldwide HoldingsHLT	USXF +0.19 points	0.15%	0.34%
Digital Realty Trust ReitDLR	USXF +0.19 points	0.09%	0.28%
Fifth Third BancorpFITB	USXF +0.18 points	0.02%	0.20%
MetlifeMET	USXF +0.18 points	0.05%	0.23%
Ferguson EnterprisesFERG	USXF +0.17 points	0.02%	0.19%
CintasCTAS	USXF +0.17 points	0.14%	0.31%
MercadolibreMELI	USXF +0.17 points	0.14%	0.31%
Datadog Inc Class ADDOG	USXF +0.17 points	0.14%	0.31%
Moodys CorpMCO	USXF +0.16 points	0.14%	0.30%
FastenalFAST	USXF +0.17 points	0.08%	0.25%
State StreetSTT	USXF +0.15 points	0.04%	0.19%
Public Storage ReitPSA	USXF +0.14 points	0.08%	0.22%
Lumentum HoldingsLITE	USXF +0.15 points	0.12%	0.27%
Aon PLC Class AAON	USXF +0.15 points	0.12%	0.27%
Paccar IncPCAR	USXF +0.14 points	0.08%	0.22%
Robinhood Markets Class AHOOD	USXF +0.14 points	0.12%	0.26%
CoherentCOHR	USXF +0.14 points	0.02%	0.16%
Nxp Semiconductors NVNXPI	USXF +0.14 points	0.13%	0.27%
Ameriprise Finance IncAMP	USXF +0.14 points	0.04%	0.18%
Te Connectivity PLCTEL	USXF +0.14 points	0.12%	0.26%
Crh Public Limited PLCCRH	USXF +0.14 points	0.11%	0.25%
HumanaHUM	USXF +0.14 points	0.07%	0.21%
Apollo Global ManagementAPO	USXF +0.13 points	0.07%	0.20%

All 391 USCL holdings⁠All 281 USXF 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.

USCL vs USXF Cost

Overpaying USXF vs USCL

$417

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

USCL 0.08%
$1,689
USXF 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

USCL 0.08%
USXF 0.10%
Overpaying

Year by year

Year	USCL	USXF	Overpaying
10	$147	$183	$36
20	$575	$717	$142
30	$1,689	$2,106	$417

Expense ratio

0.08%USCL, cheaper
0.10%USXF

USCL0.08%USXF0.10%

0.08%0.95%

Middle half of US ESG & Values Index funds
Median 0.25%

USCL cheapest of 47 funds

USXF 7th cheapest of 47 funds

USCL vs USXF Dividends

Last 12 months to Nov 2, 2026

Yield (12M): USCL 1.07%, better; USXF 0.89%
Payout (12M): USCL $0.91; USXF $0.57
Last payment: USCL $0.20; USXF $0.15
Ex-dividend: USCL Sep 15, 2026; USXF Sep 15, 2026
Paid on: USCL Sep 18, 2026; USXF Sep 18, 2026
Frequency: USCL Quarterly; USXF Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

USCLQuarterly · 13 paymentsAll USCL payments⁠

USXFQuarterly · 25 paymentsAll USXF payments⁠

USCL vs USXF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: USCL 12.5%, betterUSXF 16.0%
Return per unit of riskSharpe ratio, 3 years: USCL 1.28, betterUSXF 1.24
Worst fallMax drawdown, 5 years: USCL −19.0%since Jun 2023USXF −29.5%
Market sensitivityBeta, 5 years: USCL 1.01USXF 1.10; Market = 1

USCL and USXF in the news

All news⁠

ETF Filings
iShares files for a screened MSCI USA ETF that omits ESG from the name
Sep 4, 2026USXF

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USCL vs USXF

In short

Stated mandate

Why people hold it

Worth knowing

How USCL and USXF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in USCL

Only in USXF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

iShares files for a screened MSCI USA ETF that omits ESG from the name

How USCL and USXF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in USCL

Only in USXF

Weight gaps