At a glance
EIS charges 0.59% a year, below the 0.61% average of the 3 funds most like it (the 2nd cheapest of 4). It has $897.3M in assets, the largest of that group; it paid 1.5% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +24.5% with distributions reinvested (S&P 500: +11.5%), 2nd of those 4 funds; over three years it returned +42.6% a year. At its worst it fell 38.2% in the 2020 crash (S&P 500: 33.7%) and 27.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 26 months after the lows. Its ten largest positions make up 52.8% of the fund, out of 121 in all.
The short version
The iShares MSCI Israel ETF (EIS), from BlackRock, tracks the MSCI Israel Capped Investable Market Index, a broad mix of large, mid-size and small Israeli companies. It is the largest of the Israel ETFs compared here, with about $897 million in net assets as of August 31, 2026. It costs 0.59% a year, the same as VanEck Israel ETF. Banks, Teva Pharmaceutical and chip makers make up much of the fund, and nearly all of it is in one country.
Price history
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EIS +24.5% 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 | |
|---|---|---|---|---|---|---|
| EIS official prospectus, to Dec 31, 2024 | — | +33.79% | — | +7.16% | +6.55% | — |
| MSCIACWI Ex USA Index Net index, same period | — | +5.53% | — | +4.10% | +4.80% | — |
| EIS price data to Oct 27, 2026 | +13.7% | +24.5% | +42.6% | +12.3% | +11.9% | +7.0% |
- Over the year to Oct 27, 2026, EIS returned +24.5%, 2nd of 4 among similar funds.
- Its 5-year annualized return was +12.3% and its 10-year +11.9%.
- In the 2020 COVID crash it fell 38.2% and regained its old high 9.1 months after the low.
- Its worst full calendar year was 2011 (-32.7%); its best was 2009 (+81.3%).
- The deepest fall in its price history was 51.9% (May 30, 2008 to Nov 20, 2008), recovered by Jan 4, 2010.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.7% | — |
| 2025 | +45.0% | — |
| 2024 | +34.5% | +33.79% |
| 2023 | +5.5% | +5.32% |
| 2022 | -27.0% | -26.99% |
| 2021 | +22.8% | +23.23% |
| 2020 | +12.1% | +11.48% |
| 2019 | +20.9% | +20.91% |
| 2018 | -4.8% | -4.99% |
| 2017 | +12.8% | +13.08% |
| 2016 | -4.0% | -4.08% |
| 2015 | +7.8% | +7.13% |
| 2014 | -1.7% | — |
| 2013 | +18.3% | — |
| 2012 | +8.7% | — |
| 2011 | -32.7% | — |
| 2010 | +15.3% | — |
| 2009 | +81.3% | — |
| 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 | Lost 37.6% over that stretch · deepest drop along the way 38.2%, back to its old high 9.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 27.4% over that stretch · deepest drop along the way 27.7%, back to its old high 25.8 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7700 | |
| 2025 | $1.5800 | +47.7% |
| 2024 | $1.0700 | +32.1% |
| 2023 | $0.8100 | -12.9% |
| 2022 | $0.9300 | +14.8% |
| 2021 | $0.8100 | +437.5% |
| 2020 | $0.1507 | -87.2% |
| 2019 | $1.1800 | +181.0% |
| 2018 | $0.4200 | -59.6% |
| 2017 | $1.0400 | +26.8% |
| 2016 | $0.8200 | -34.4% |
| 2015 | $1.2500 | +42.0% |
| 2014 | $0.8800 | -17.8% |
| 2013 | $1.0700 | +3.9% |
| 2012 | $1.0300 | -25.4% |
| 2011 | $1.3800 | -27.7% |
| 2010 | $1.9100 | +144.9% |
| 2009 | $0.7800 |
What's inside
As of Aug 31, 2026, the fund held 121 securities; the ten largest made up 52.84% of assets, and 3.84% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| TEVA PHARMACEUTICAL INDUSTRIES LIMITED... Other | 10.18% | |
| BANK LEUMI LE ISRAEL B.M. | 9.09% | |
| BANK HAPOALIM B.M. | 8.16% | |
| TOWER SEMICONDUCTOR LTD | 5.58% | |
| ELBIT SYSTEMS LTD | 4.76% | |
| PHOENIX FINANCIAL LTD | 3.46% | |
| ISRAEL DISCOUNT BANK LIMITED | 3.39% | |
| MIZRAHI TEFAHOT BANK LTD | 2.95% | |
| ENLIGHT RENEWABLE ENERGY LTD | 2.64% | |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD. | 2.63% | |
| NOVA LTD | 2.60% | |
| HAREL INSURANCE INVESTMENTS & FINANCIAL SERVICES LTD | 1.86% | |
| BEZEQ THE ISRAELI TELECOMMUNICATION CORP LTD | 1.77% | |
| NICE LTD | 1.52% | |
| CLAL INSURANCE ENTERPRISES HOLDINGS LIMITED | 1.47% |
By country
Israel 99%British Virgin Islands 0.35%Singapore 0.28%Netherlands 0.21%XX 0.02%By asset type
Stocks 89.41%Other 10.45%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $17.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -12.16%, -0.75%, +2.74%.
How it works
EIS tracks the MSCI Israel Capped Investable Market Index (IMI). MSCI picks the stocks and sets their weights, not BlackRock. The index covers large, mid-size and small Israeli companies. It weights them by free float-adjusted market value. That means bigger companies count for more, but only shares that are actually available to public investors are counted.
The index caps any single "group entity" at 25%. A group entity is a set of affiliated companies under common control that may each have their own listed shares. All group entities above 5% are capped at 50% combined. MSCI reviews these groups once a year. The index is rebalanced every quarter, using a process meant to keep it as close as possible to the uncapped MSCI Israel Index.
BlackRock Fund Advisors uses "representative sampling." This means it may hold a sample of the index's stocks that behaves like the full index, rather than every stock. At least 80% of assets go into index stocks or depositary receipts for them. Up to 20% can go into futures, options, swaps and cash. As of August 31, 2026, the fund held 121 securities, with 3.84% in cash. It does not take defensive positions when markets fall. Turnover was 8%, and the fund may lend out up to one-third of its assets.
What it really costs
- EIS charges 0.59% a year, versus an average of 0.61% for the similar funds below (2nd of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $60 in the first year and $738 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EIS | $60 | $189 | $329 | $738 |
In a retirement portfolio
EIS invests almost entirely in one country, and its top 10 holdings make up more than half the fund, so it works as a small add-on rather than a foundation.
EIS could add targeted exposure to Israeli banks, insurers, defense and technology companies. The price is volatility. The fund fell 38.2% in the 2020 COVID crash and recovered in about 9 months. In the 2022 bear market it fell 27.7% and took about 26 months to recover. Its deepest drop was 51.9%, between May and November 2008, and recovery took 13.5 months. Its worst calendar year was 2011, down 32.7%. Someone selling shares to cover expenses in a year like that would lock in losses. Income is modest: the yield over the past 12 months was 1.5% as of October 27, 2026, paid twice a year. Annual costs are 0.59%. In the SEC's standard $10,000 example, that comes to $738 over 10 years. 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 a small, targeted stake in Israel's banks, insurers, defense firms and chip makers through one 121-stock index fund.
- Those who prefer the largest Israel ETF compared here, with about $897 million in net assets as of August 31, 2026, and low 8% turnover.
- Investors who can hold through big swings, such as a 27.7% drop in 2022 that took about 26 months to recover.
Look elsewhere if
- Retirees who need steady income: the yield over the past 12 months was 1.5% as of October 27, 2026, paid only twice a year.
- Anyone who wants broad diversification: about 99% of the fund is in Israel, and the top 10 holdings made up about 53% as of August 31, 2026.
- Investors uneasy about regional conflict, political risk or swings in Israel's currency against the dollar, all of which the prospectus lists as key risks.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is EIS good for a retirement portfolio?
EIS is a higher-risk, single-country fund. In a retirement portfolio it usually fits as a small add-on, not a core holding. It fell 38.2% in the 2020 COVID crash and 27.7% in the 2022 bear market. Its worst calendar year was 2011, down 32.7%. Annual costs are 0.59%. Income is modest, with a 1.5% yield over the past 12 months as of October 27, 2026. Someone who may need to sell shares in a bad year would feel those drops directly.
What's the difference between EIS and ISRA?
Both are Israel stock ETFs that charge 0.59% a year, and they share about 66% of their holdings. EIS is much larger: about $897 million in net assets as of August 31, 2026, compared with about $153 million for VanEck Israel ETF (ISRA) as of June 30, 2026. As of October 27, 2026, ISRA returned 25.5% over one year and EIS returned 24.5%. Over three years, EIS was ahead, at 42.6% a year compared with 37.2% for ISRA.
Does EIS pay dividends?
Yes. EIS pays dividends twice a year. Over the 12 months through October 27, 2026, it paid $1.86 per share, a yield of about 1.5%. The payouts come from dividends paid by its Israeli holdings, such as banks and insurers, so the amount can change from one payment to the next. Because the fund owns non-US stocks, a weaker Israeli currency against the dollar can also lower what US holders receive.
What are the top holdings in EIS?
As of August 31, 2026, the largest holding in EIS was Teva Pharmaceutical at about 10.2%. Next came Bank Leumi at 9.1%, Bank Hapoalim at 8.2%, Tower Semiconductor at 5.6% and Elbit Systems at 4.8%. Phoenix Financial, Israel Discount Bank, Mizrahi Tefahot Bank, Enlight Renewable Energy and Check Point Software complete the top 10. Together, the top 10 made up about 53% of the fund, so a few companies drive much of its results.
How has EIS performed over the last 10 years?
According to its prospectus, EIS returned an average of 6.55% a year over the 10 years ended December 31, 2024. Over the same period, the MSCI ACWI ex USA Index returned 4.8% a year. The ride was bumpy: the fund lost 26.99% in 2022 and gained 33.79% in 2024. Measured by price, its 10-year return was 11.9% a year as of October 27, 2026, helped by a 45.05% gain in 2025.