At a glance
CORO charges 0.55% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $7.82B in assets, the 2nd largest of that group; it paid 2.86% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +18.2% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds. Its ten largest positions make up 76.0% of the fund, out of 29 in all.
The short version
iShares International Country Rotation Active ETF (CORO) is an actively managed BlackRock fund. It invests mainly through other iShares single-country ETFs, betting on which markets outside the US will do better. It doesn't mirror the MSCI ACWI ex-US Index. Instead, it overweights the countries it favors. As of July 31, 2026, its largest bets were Japan and Canada. Its expense ratio is 0.55% after a fee waiver, and its track record begins in December 2024.
Price history
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CORO +18.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CORO price data to Oct 27, 2026 | +15.8% | +18.2% | — | — | — | +24.2% |
- Over the year to Oct 27, 2026, CORO returned +18.2%, 1st of 8 among similar funds.
- Its worst full calendar year was 2025 (+35.1%); its best was 2025 (+35.1%).
- The deepest fall in its price history was 14.1% (Mar 19, 2025 to Apr 8, 2025), recovered by May 2, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +15.8% |
| 2025 | +35.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3000 | |
| 2025 | $1.0000 |
What's inside
As of Jul 31, 2026, the fund held 29 securities; the ten largest made up 75.99% of assets. It also reported 7.22% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Fund held | Weight | |
|---|---|---|
| iShares MSCI Japan ETF | 18.94% | |
| iShares MSCI Canada ETF | 13.38% | |
| iShares MSCI South Korea ETF | 8.17% | |
| iShares MSCI United Kingdom ETF | 6.98% | |
| iShares MSCI Switzerland ETF | 6.59% | |
| iShares MSCI Spain ETF | 6.47% | |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.19% | |
| iShares MSCI Taiwan ETF | 3.87% | |
| iShares Core S&P 500 ETF | 3.81% | |
| iShares MSCI Hong Kong ETF | 3.58% | |
| iShares MSCI China ETF | 3.50% | |
| iShares MSCI Sweden ETF | 3.03% | |
| iShares MSCI Finland ETF | 2.39% | |
| iShares MSCI Italy ETF | 2.28% | |
| iShares MSCI Singapore ETF | 2.15% |
By country
United States 94.64%Taiwan 4.19%Netherlands 0.96%Denmark 0.07%By asset type
Stocks 99.86%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $4.19B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.59%, +0.65%, -1.84%.
How it works
CORO seeks long-term growth. It puts at least 80% of its net assets in companies tied to countries other than the US, in both developed and emerging markets. Its yardstick is the MSCI ACWI ex-US Index, a broad index of stocks outside the US. BlackRock gives more weight than the index does to countries it expects to do better. To choose them, it uses its own quantitative models, which are computer-driven forecasts, plus the judgment of its managers.
Most of the fund sits in other iShares country ETFs, which makes it a "fund of funds." As of July 31, 2026, 94.6% of assets were in other funds, spread across 29 holdings. The largest were the iShares MSCI Japan ETF (18.9%), iShares MSCI Canada ETF (13.4%), iShares MSCI South Korea ETF (8.2%) and iShares MSCI United Kingdom ETF (7.0%). The top 10 made up 76% of the fund. It can also hold stocks directly, such as Taiwan Semiconductor Manufacturing at 4.2%. It may put up to 20% in US stocks, and it held 3.8% in the iShares Core S&P 500 ETF.
The managers aim to adjust country weights about once a month, but they can trade more or less often. Portfolio turnover was 52%. The fund may use options, futures, swaps and currency forwards to add return or to hedge. It is classified as non-diversified, which means it can concentrate in a few countries.
What it really costs
- CORO charges 0.55% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- The fee includes a 0.51% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $56 in the first year and $1,248 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CORO | $56 | $286 | $535 | $1,248 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
Its concentrated, model-driven country bets and short track record make it better suited as a smaller side position than as the foundation of a portfolio.
CORO could add non-US stocks to a portfolio built mostly on US holdings, with a manager shifting money among countries. Its record is short. It launched on December 4, 2024, so it did not exist during the 2008, 2020 or 2022 market declines. Its only full calendar year, 2025, returned 35.1%. Its deepest drop was 14.1%, from March 19 to April 8, 2025, and it recovered by May 2, 2025, in less than a month. That was a mild test. A long bear market could hurt much more, which matters to anyone who may need to sell shares in a bad year. The trailing yield was 2.86% as of October 27, 2026, paid twice a year. The expense ratio is 0.55%. Past results don't predict future returns, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want international stocks with active country tilts, such as its 18.9% Japan and 13.4% Canada weights as of July 31, 2026.
- People willing to pay 0.55% a year for BlackRock's model-driven country calls instead of holding a plain international index fund.
- Long-term holders who can tolerate swings; its one-year volatility, a measure of how widely returns vary, was 17.3% as of October 27, 2026.
Look elsewhere if
- Investors who want a long track record: the fund launched in December 2024 and has not yet been through a major bear market.
- Income seekers who want frequent payments: it pays twice a year, with a trailing yield of 2.86% as of October 27, 2026.
- Investors who want the whole MSCI ACWI ex-US market at index weights; CORO's top 10 holdings made up 76% of assets.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| CORO this fund | 0.55% | $7.82B | +18.2% | — |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does CORO invest in?
CORO invests mainly in other iShares country ETFs, which made up 94.6% of assets as of July 31, 2026. The largest were the iShares MSCI Japan ETF (18.9%), iShares MSCI Canada ETF (13.4%) and iShares MSCI South Korea ETF (8.2%). It also held Taiwan Semiconductor Manufacturing directly (4.2%) and some US stocks through the iShares Core S&P 500 ETF (3.8%). Its filings list these holdings as US-domiciled because the ETFs are listed in the US, even though they hold foreign stocks.
What is CORO's expense ratio?
CORO's expense ratio is 0.55%, according to the prospectus filed November 26, 2025, and that figure includes a fee waiver. Because CORO is a fund of funds, its holders also bear part of the costs of the underlying ETFs. In the SEC's standard example of $10,000 earning 5% a year, total costs are $56 after one year, $286 after three, $535 after five and $1,248 after ten years.
Does CORO pay dividends?
Yes. CORO pays distributions twice a year. Over the trailing twelve months it paid $1.02 per share, a yield of 2.86% as of October 27, 2026. That income comes from the dividends of the foreign stocks inside its underlying country ETFs, so the amount can change from one payment to the next. Investors who want monthly or highly predictable income may find the twice-yearly schedule less convenient.
How has CORO performed since launch?
CORO has a short but strong record. It returned 35.1% in 2025, its first full calendar year, and 15.8% in 2026 through October 27. Its one-year return was 18.2% as of October 27, 2026. Its deepest drop was 14.1%, from March 19 to April 8, 2025, and it recovered within a month. The fund launched in December 2024, so it has no three- or five-year history.
How is CORO different from an international index ETF?
An international index ETF holds countries at their index weights. CORO instead tilts toward the countries BlackRock's models and managers favor, measured against the MSCI ACWI ex-US Index. It can make concentrated bets, trades about monthly, and may use derivatives. This gives it more room to beat the index or to trail it. The comparison funds in our data are buffer funds, which follow a different strategy, so they aren't close alternatives to CORO.