At a glance
DSI charges 0.25% a year, above the 0.14% average of the 8 funds most like it (the 8th cheapest of 9). It has $5.32B in assets, the 2nd largest of that group; it paid 0.87% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +14.5% with distributions reinvested (S&P 500: +11.5%), 5th of those 9 funds; over three years it returned +25.0% a year. At its worst it fell 34.1% in the 2020 crash (S&P 500: 33.7%) and 28.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 15 months after the lows. Its ten largest positions make up 44.2% of the fund, out of 402 in all.
The short version
The iShares ESG MSCI KLD 400 ETF (DSI) is a BlackRock index fund that tracks the MSCI KLD 400 Social Index. The index holds about 400 U.S. companies chosen for their environmental, social and governance (ESG) ratings, and it excludes businesses such as fossil fuels, tobacco, alcohol and weapons. The fund launched in 2006, so it has a long record. Its 0.25% expense ratio is well above the 0.14% average of similar ESG funds.
Price history
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DSI +14.5% 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 | |
|---|---|---|---|---|---|---|
| DSI official prospectus, to Dec 31, 2025 | — | +17.93% | — | +13.80% | +14.54% | — |
| MSCIUSA Index index, same period | — | +17.75% | — | +13.87% | +14.79% | — |
| DSI price data to Oct 27, 2026 | +15.1% | +14.5% | +25.0% | +11.7% | +15.6% | +10.8% |
- Over the year to Oct 27, 2026, DSI returned +14.5%, 5th of 9 among similar funds.
- Its 5-year annualized return was +11.7% and its 10-year +15.6%.
- In the 2020 COVID crash it fell 34.1% and regained its old high 4.7 months after the low.
- Its worst full calendar year was 2008 (-35.3%); its best was 2013 (+35.4%).
- The deepest fall in its price history was 54.2% (Oct 11, 2007 to Mar 6, 2009), recovered by Mar 26, 2012.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.1% | — |
| 2025 | +18.0% | +17.93% |
| 2024 | +22.4% | +22.48% |
| 2023 | +28.5% | +28.45% |
| 2022 | -21.7% | -21.66% |
| 2021 | +31.3% | +31.30% |
| 2020 | +20.9% | +20.81% |
| 2019 | +31.2% | +31.27% |
| 2018 | -3.9% | -3.81% |
| 2017 | +20.9% | +20.96% |
| 2016 | +10.5% | +10.34% |
| 2015 | +0.3% | — |
| 2014 | +12.7% | — |
| 2013 | +35.4% | — |
| 2012 | +12.3% | — |
| 2011 | +1.4% | — |
| 2010 | +11.4% | — |
| 2009 | +30.7% | — |
| 2008 | -35.3% | — |
| 2007 | +3.2% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 53.7% over that stretch · deepest drop along the way 54.2%, back to its old high 36.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.1% over that stretch · deepest drop along the way 34.1%, back to its old high 4.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.2% over that stretch · deepest drop along the way 28.2%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.9200 | |
| 2025 | $1.1700 | +2.6% |
| 2024 | $1.1400 | +5.6% |
| 2023 | $1.0800 | +8.0% |
| 2022 | $1.0000 | +8.7% |
| 2021 | $0.9200 | +4.5% |
| 2020 | $0.8800 | +4.1% |
| 2019 | $0.8450 | +11.2% |
| 2018 | $0.7600 | +19.7% |
| 2017 | $0.6350 | +2.4% |
| 2016 | $0.6200 | +11.7% |
| 2015 | $0.5550 | -11.2% |
| 2014 | $0.6250 | +42.0% |
| 2013 | $0.4400 | -2.2% |
| 2012 | $0.4500 | +32.4% |
| 2011 | $0.3400 | +9.7% |
| 2010 | $0.3100 | +8.8% |
| 2009 | $0.2850 | -12.3% |
| 2008 | $0.3250 | +3.2% |
| 2007 | $0.3150 |
What's inside
As of Jul 31, 2026, the fund held 402 securities; the ten largest made up 44.22% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 13.42% | |
| MICROSOFT CORPORATION | 9.49% | |
| ALPHABET INC. Class A | 6.00% | |
| ALPHABET INC. | 4.77% | |
| TESLA, INC. | 2.54% | |
| ADVANCED MICRO DEVICES, INC. | 2.25% | |
| VISA INC. | 1.78% | |
| MASTERCARD INCORPORATED | 1.36% | |
| CISCO SYSTEMS, INC. | 1.33% | |
| ABBVIE INC. | 1.29% | |
| APPLIED MATERIALS, INC. | 1.17% | |
| INTEL CORPORATION | 1.15% | |
| CATERPILLAR INC. | 1.10% | |
| LAM RESEARCH CORPORATION | 1.06% | |
| THE COCA-COLA COMPANY | 0.98% |
By country
United States 95.21%Ireland 3.12%Switzerland 0.53%Netherlands 0.24%Liberia 0.23%By asset type
Stocks 99.84%By sector
Sectors of the companies held, for the 86.9% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $14.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.26%, -0.11%, -0.76%.
How it works
DSI tracks the MSCI KLD 400 Social Index. MSCI starts with the MSCI USA IMI Index, which covers about 99% of the stocks listed on the NYSE and Nasdaq. It scores each company's ESG performance with its own ratings and also looks at company size and liquidity (how easily the shares trade). Companies with significant involvement in certain businesses can't be included. These are fossil fuel extraction or reserves, thermal coal power, nuclear power, alcohol, tobacco, gambling, civilian firearms, conventional, nuclear or controversial weapons, adult entertainment, and genetically modified organisms. As of April 30, 2026, the index held 399 securities.
Holdings are weighted by free float-adjusted market value. Bigger companies get bigger weights, counting only shares the public can trade. This makes the fund top-heavy. As of July 31, 2026, NVIDIA was 13.4% of assets, Microsoft 9.5% and Alphabet 10.8% across its two share classes. The top 10 holdings made up 44%, and technology about 38%.
BlackRock Fund Advisors uses "representative sampling." This means it may hold a sample of the index stocks that matches the index's overall profile rather than every one. It generally keeps at least 90% of assets in index stocks. It may use small futures positions and may lend out up to one-third of its assets. Turnover was a low 3%.
What it really costs
- DSI charges 0.25% a year, versus an average of 0.14% for the similar funds below (8th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $318 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| DSI | $26 | $80 | $141 | $318 |
In a retirement portfolio
It spreads money across about 400 U.S. companies in every major sector, though with ESG screens and a heavy tech tilt.
DSI could serve as a core U.S. stock holding for investors who want ESG screens. But it moves with the stock market and offers no cushion. It fell 54.2% in the 2008 financial crisis and didn't recover until March 2012, about three years after the March 2009 bottom. Its worst calendar year was 2008, down 35.3%. It dropped 34.1% in the 2020 COVID crash and recovered in under five months. It fell 28.2% in the 2022 bear market and took about 14.5 months to recover. Anyone selling shares for living costs in years like these would lock in losses. Income is small: the yield was 0.87% as of October 27, 2026, paid quarterly. The 0.25% expense ratio is above the 0.14% average for similar funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want broad U.S. stock exposure that excludes fossil fuels, tobacco, alcohol, gambling, weapons and nuclear power companies.
- Long-term holders comfortable with heavy tech exposure. NVIDIA, Microsoft and Alphabet made up about a third of assets as of July 31, 2026.
- Those who value a long record: it averaged 14.54% a year over ten years through December 31, 2025, close to the MSCI USA Index.
Look elsewhere if
- Cost-focused investors: its 0.25% expense ratio ranks 8th of 9 similar funds. SUSL charges 0.10% and USSG 0.09%, each with 82% holdings overlap.
- People seeking meaningful income: the yield was 0.87% as of October 27, 2026, paid quarterly.
- Anyone needing stability: it fell 54.2% in 2008–2009 and 28.2% in 2022. Its one-year beta of 1.11 means it swung slightly more than the market.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| DSI this fund | — | 0.25% | $5.32B | +14.5% | +25.0% |
| SUSL iShares ESG MSCI USA Leaders ETF | 82% | 0.1% | $1.22B | +14.8% | +25.3% |
| USSG Xtrackers MSCI USA Selection Equity ETF | 82% | 0.09% | $590.8M | +14.7% | +25.2% |
| SNPE Xtrackers S&P 500 Scored & Screened ETF | 73% | 0.1% | $2.95B | +14.1% | +24.4% |
| EFIV SPDR S&P 500 ESG ETF | 71% | 0.1% | $1.09B | +14.2% | +24.4% |
| IQSU IQ Candriam ESG U.S. Large Cap Equity ETF | 63% | 0.09% | $327.5M | +15.9% | +22.0% |
| SPUS SP Funds S&P 500 Sharia Industry Exclusions… | 60% | 0.45% | $3.14B | +17.2% | +27.5% |
| USCL iShares Climate Conscious & Transition MSCI… | 57% | 0.08% | $2.87B | +9.2% | +23.1% |
Questions investors ask
Is DSI good for retirement?
It can work as a core U.S. stock holding for retirement savers who want ESG screens, but it is all stocks and offers no protection in downturns. It fell 54.2% in the 2008 crisis and 28.2% in 2022. It pays little income, with a 0.87% yield as of October 27, 2026. Its 0.25% expense ratio costs about $318 over ten years on $10,000 under the SEC's standard example, which assumes a 5% annual return.
What's the difference between DSI and SUSL?
The main difference is cost. Both are iShares ESG funds of U.S. stocks with 82% holdings overlap, but SUSL charges 0.10% a year versus DSI's 0.25%. Returns have been close. As of October 27, 2026, SUSL returned 14.8% over one year and 25.3% a year over three years, versus 14.5% and 25.0% for DSI. DSI is larger, at $5.32 billion in net assets as of July 31, 2026, versus SUSL's $1.22 billion as of August 31, 2026.
Does DSI pay dividends?
Yes. DSI pays dividends quarterly, but the amounts are small. Over the twelve months to October 27, 2026, it paid $1.28 per share, a yield of 0.87%. That low yield reflects its heavy weighting in large technology companies such as NVIDIA and Microsoft, which pay little in dividends relative to their share prices. Investors who need regular income from their portfolio would get only a modest amount from this fund on its own.
What companies are excluded from DSI?
DSI's index, the MSCI KLD 400 Social Index, excludes companies with significant involvement in many businesses. These are fossil fuel extraction and reserves, unconventional oil and gas, thermal coal power, nuclear power, alcohol, tobacco, gambling, civilian firearms, conventional, nuclear and controversial weapons, adult entertainment, and genetically modified organisms. MSCI then chooses from the remaining companies using its own ESG ratings, plus size and liquidity. These screens can cause the fund to perform differently from the overall market.
Has DSI kept up with the stock market?
Roughly, yes, with a small lag over longer periods. Through December 31, 2025, DSI returned an average of 14.54% a year over ten years and 13.8% over five. The MSCI USA Index, a broad U.S. stock benchmark, returned 14.79% and 13.87% over the same periods. In 2025, DSI gained 17.93%, compared with 17.75% for the index. Because of its ESG screens, any single year can differ from the market.