At a glance
IFGL charges 0.5% a year, above the 0.29% average of the 8 funds most like it (the 7th cheapest of 9). It has $83.0M in assets, the 9th largest of that group; it paid 4.53% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −6.7% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +9.5% a year. At its worst it fell 40.2% in the 2020 crash (S&P 500: 33.7%) and 34.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months and 40 months after the lows. Its ten largest positions make up 28.5% of the fund, out of 270 in all.
The short version
iShares International Developed Real Estate ETF (IFGL) is a BlackRock index fund tracking the FTSE EPRA Nareit Developed ex US Index: property companies and real estate investment trusts (REITs) in developed markets outside the U.S. As of July 31, 2026, Japan and Australia made up about 40% of assets. Its 0.50% expense ratio is far above the 0.10% for Xtrackers' HAUZ and 0.12% for Vanguard's VNQI, which hold many of the same stocks.
Price history
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IFGL -6.7% 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 | |
|---|---|---|---|---|---|---|
| IFGL official prospectus, to Dec 31, 2025 | — | +25.23% | — | -0.10% | +2.35% | — |
| FTSE All World Ex US Index Net index, same period | — | +31.95% | — | +8.02% | +8.49% | — |
| FTSEEPRA Nareit Developed Ex US Index Net index, same period | — | +25.19% | — | -0.05% | +2.46% | — |
| IFGL price data to Oct 27, 2026 | -6.6% | -6.7% | +9.5% | -3.4% | +1.3% | +0.6% |
- Over the year to Oct 27, 2026, IFGL returned -6.7%, 7th of 9 among similar funds.
- Its 5-year annualized return was -3.4% and its 10-year +1.3%.
- In the 2020 COVID crash it fell 40.2% and regained its old high 14.3 months after the low.
- Its worst full calendar year was 2008 (-52.1%); its best was 2009 (+43.1%).
- The deepest fall in its price history was 67.9% (Dec 31, 2007 to Mar 9, 2009), recovered by Apr 8, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -6.7% | — |
| 2025 | +24.3% | +25.23% |
| 2024 | -7.2% | -8.27% |
| 2023 | +5.4% | +5.86% |
| 2022 | -24.2% | -24.22% |
| 2021 | +8.3% | +7.99% |
| 2020 | -7.5% | -7.20% |
| 2019 | +20.6% | +20.80% |
| 2018 | -6.4% | -6.69% |
| 2017 | +20.0% | +19.89% |
| 2016 | +1.4% | +1.08% |
| 2015 | -3.9% | — |
| 2014 | +0.8% | — |
| 2013 | +4.6% | — |
| 2012 | +39.6% | — |
| 2011 | -15.6% | — |
| 2010 | +14.7% | — |
| 2009 | +43.1% | — |
| 2008 | -52.1% | — |
| 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 | Lost 39.9% over that stretch · deepest drop along the way 40.2%, back to its old high 14.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34% over that stretch · deepest drop along the way 34.1%, back to its old high 40 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6400 | |
| 2025 | $0.8500 | -8.6% |
| 2024 | $0.9300 | +138.5% |
| 2023 | $0.3900 | -33.9% |
| 2022 | $0.5900 | -36.6% |
| 2021 | $0.9300 | +45.2% |
| 2020 | $0.6407 | -72.1% |
| 2019 | $2.3000 | +107.2% |
| 2018 | $1.1100 | -24.6% |
| 2017 | $1.4730 | -27.0% |
| 2016 | $2.0180 | +95.5% |
| 2015 | $1.0320 | -3.5% |
| 2014 | $1.0690 | -70.3% |
| 2013 | $3.6040 | +88.9% |
| 2012 | $1.9080 | +76.7% |
| 2011 | $1.0800 | -44.2% |
| 2010 | $1.9360 | -6.3% |
| 2009 | $2.0659 | +77.0% |
| 2008 | $1.1670 |
What's inside
As of Jul 31, 2026, the fund held 270 securities; the ten largest made up 28.46% of assets.
| Holding | Weight | |
|---|---|---|
| GOODMAN GROUP Other | 5.76% | |
| Mitsubishi Estate Company, Limited | 3.68% | |
| Mitsui Fudosan Co., Ltd. | 3.47% | |
| SUN HUNG KAI PROPERTIES LIMITED | 2.77% | |
| Vonovia SE | 2.46% | |
| SEGRO PUBLIC LIMITED COMPANY | 2.44% | |
| UNIBAIL-RODAMCO-WESTFIELD SE Other | 2.06% | |
| Sumitomo Realty & Development Co., Ltd. | 2.02% | |
| SCENTRE GROUP Other | 1.99% | |
| Swiss Prime Site AG | 1.81% | |
| LINK REIT Other | 1.80% | |
| CAPITALAND INTEGRATED COMMERCIAL TRUST Other | 1.71% | |
| KLEPIERRE SA | 1.40% | |
| CAPITALAND ASCENDAS REIT Other | 1.14% | |
| PSP Swiss Property AG | 1.14% |
By country
Japan 23.39%Australia 16.66%United Kingdom 9.69%Singapore 8.97%Hong Kong 6.94%By asset type
Stocks 66.04%Other 33.17%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $2.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.55%, -2.56%, +3.38%.
How it works
IFGL tracks the FTSE EPRA Nareit Developed ex US Index. FTSE International Limited, an index provider independent of BlackRock, decides which companies are in the index and how much each one weighs. The index covers companies that own, trade or develop income-producing real estate in developed markets except the U.S. As of April 30, 2026, that meant 21 countries, including Japan, Australia, the U.K., Singapore, Hong Kong and Canada. Holdings include REITs, real estate operating companies and real estate service firms.
BlackRock uses representative sampling. Instead of buying every stock in the index, it may hold a sample chosen to match the index's size, industry mix, yield and other traits. At least 80% of net assets must be in index components. As of July 31, 2026, the fund had about 270 holdings, and the top ten made up 28.5% of assets. The largest were Goodman Group (5.8%), Mitsubishi Estate (3.7%) and Mitsui Fudosan (3.5%). Portfolio turnover was 9%, so trading is light.
A few mechanics matter. The fund may use derivatives. As of July 31, 2026, four stock index futures came to about 0.01% of assets. It may lend out securities worth up to one-third of its total assets. Its holdings are priced in yen, Australian dollars, pounds and other currencies, so a stronger U.S. dollar can lower its value. It does not take defensive positions when markets fall.
What it really costs
- IFGL charges 0.5% a year, versus an average of 0.29% for the similar funds below (7th of 9, cheapest first).
- Of that, 0.48% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IFGL | $51 | $160 | $280 | $628 |
In a retirement portfolio
IFGL adds property companies in Japan, Australia, Europe and Asia that a mostly U.S. portfolio may lack, and its one-year beta was 0.65.
IFGL could add overseas landlords and developers, such as Goodman Group and Mitsubishi Estate, to a portfolio built mostly on U.S. stocks and bonds. Its trailing 12-month yield was 4.53% as of October 27, 2026, paid quarterly. The risks are steep. It lost 52.1% in 2008. Its deepest drop, 67.9% from December 2007 to March 2009, did not recover until April 2013. It fell 40.2% in the 2020 COVID crash and took about 14 months to recover. It fell 34.1% in 2022 and did not regain its peak until February 2026. Anyone who sold shares to cover spending during those stretches would have locked in losses. Its 0.50% expense ratio is high for its peer group. The SEC's standard example puts costs at $628 over 10 years on $10,000. 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 with mostly U.S. holdings who want property companies in Japan, Australia, the U.K., Singapore and Hong Kong in one fund of about 270 holdings.
- Income-focused holders comfortable with quarterly payouts that vary; the trailing yield was 4.53% as of October 27, 2026, and dividends aren't guaranteed.
- Long-term holders who can sit through deep slumps, such as the 34.1% drop in 2022 that took about 40 months to recover.
Look elsewhere if
- Cost-conscious investors: HAUZ (0.10%) and VNQI (0.12%) share much of IFGL's portfolio for a fraction of its 0.50% expense ratio.
- Anyone who may need to sell within a few years; the fund lost 52.1% in 2008 and 24.22% in 2022.
- Those who prefer larger funds; IFGL had about $83 million in net assets as of July 31, 2026, the smallest in its nine-fund comparison group.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IFGL this fund | — | 0.5% | $83.0M | -6.7% | +9.5% |
| HAUZ DBX ETF Trust - Xtrackers International Rea… | 71% | 0.1% | $1.06B | -6.9% | +9.6% |
| VNQI Vanguard Global ex-U.S. Real Estate ETF | 67% | 0.12% | $3.86B | -7.3% | +10.1% |
| RWX SPDR Dow Jones International Real Estate ETF | 57% | 0.59% | $273.0M | -4.8% | +8.6% |
| GQRE FlexShares Global Quality Real Estate Index… | 25% | 0.45% | $424.9M | +3.2% | +13.7% |
| REET iShares Global REIT ETF | 24% | 0.14% | $5.13B | +4.1% | +13.5% |
| AVRE Avantis Real Estate ETF | 24% | 0.17% | $861.1M | +3.5% | +12.6% |
| RWO SPDR Dow Jones Global Real Estate ETF | 24% | 0.5% | $1.25B | +5.2% | +13.8% |
Questions investors ask
Does IFGL pay monthly dividends?
No. IFGL pays dividends quarterly. Over the 12 months through October 27, 2026, it paid about $0.95 per share, a trailing yield of 4.53%. Payouts vary because they depend on what the underlying property companies and REITs distribute, and those companies aren't required to keep paying. The holdings pay in foreign currencies, so a stronger U.S. dollar can also shrink the dollar value of each payment.
IFGL vs HAUZ: what's the difference?
Mainly cost and size. Both hold developed-market real estate outside the U.S., and about 71% of their holdings overlap based on the latest N-PORT reports. IFGL's expense ratio is 0.50%, while HAUZ charges 0.10%. HAUZ is also much larger, at about $1.06 billion in net assets as of August 31, 2026, versus about $83 million for IFGL as of July 31, 2026. Returns have been close: through October 27, 2026, IFGL returned -6.7% over one year and 9.5% a year over three, against -6.9% and 9.6% for HAUZ.
What does IFGL hold?
IFGL holds about 270 property stocks and REITs from developed markets outside the U.S. As of July 31, 2026, Japan was the largest country at 23.4% of assets, followed by Australia (16.7%), the U.K. (9.7%), Singapore (9.0%), Hong Kong (6.9%) and Canada (5.8%). The biggest positions were Goodman Group, Mitsubishi Estate, Mitsui Fudosan, Sun Hung Kai Properties and Vonovia. The top ten made up 28.5% of the fund.
Is IFGL a good investment for retirement?
It depends on the role. IFGL may suit a small slice of a portfolio meant to add overseas real estate and quarterly income, with a trailing yield of 4.53% as of October 27, 2026. But it has been volatile. It lost 52.1% in 2008 and 24.22% in 2022, and its 10-year average annual return was 2.35% through December 31, 2025. Its 0.50% expense ratio is also high next to similar funds, which average 0.29%.
How has IFGL performed over the last 10 years?
Weakly. Through December 31, 2025, IFGL returned 2.35% a year over 10 years and -0.10% a year over five years, roughly in line with its index (2.46% and -0.05%). The broader FTSE All World ex US Index returned 8.49% a year over the same 10 years. Yearly results have swung widely, from -24.22% in 2022 to 25.23% in 2025. Based on prices through October 27, 2026, the fund was down 6.6% year to date.