At a glance
IGE charges 0.37% a year, above the 0.29% average of the 7 funds most like it (the 5th cheapest of 8). It has $707.9M in assets, the 7th largest of that group; it paid 1.84% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +40.9% with distributions reinvested (S&P 500: +11.5%), 7th of those 8 funds; over three years it returned +21.2% a year. At its worst it fell 50.9% in the 2020 crash (S&P 500: 33.7%) and 25.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 18 months after the lows. Its ten largest positions make up 40.0% of the fund, out of 151 in all.
The short version
The iShares North American Natural Resources ETF (IGE) is a BlackRock index fund that tracks the S&P North American Natural Resources Sector Index. The index holds U.S.-traded energy and materials stocks of U.S. and Canadian companies, and leaves out chemical companies and steel makers. Most energy funds hold only oil and gas. IGE also owns mining and materials stocks such as Newmont and Freeport-McMoRan. It costs 0.37% a year, more than the 0.29% average for similar funds.
Price history
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IGE +40.9% 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 | |
|---|---|---|---|---|---|---|
| IGE official prospectus, to Dec 31, 2025 | — | +20.47% | — | +19.93% | +9.18% | — |
| S And P Global Broad Market Index Net index, same period | — | +21.96% | — | +10.50% | +11.28% | — |
| IGE price data to Oct 27, 2026 | +33.0% | +40.9% | +21.2% | +18.6% | +10.2% | +7.1% |
- Over the year to Oct 27, 2026, IGE returned +40.9%, 7th of 8 among similar funds.
- Its 5-year annualized return was +18.6% and its 10-year +10.2%.
- In the 2020 COVID crash it fell 50.9% and regained its old high 11.2 months after the low.
- Its worst full calendar year was 2008 (-42.9%); its best was 2021 (+39.4%).
- The deepest fall in its price history was 67.5% (Jul 3, 2014 to Mar 18, 2020), recovered by Mar 10, 2022.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +33.0% | — |
| 2025 | +20.4% | +20.47% |
| 2024 | +7.5% | +7.53% |
| 2023 | +3.1% | +3.12% |
| 2022 | +33.3% | +33.35% |
| 2021 | +39.4% | +39.27% |
| 2020 | -19.6% | -19.46% |
| 2019 | +17.1% | +16.98% |
| 2018 | -21.6% | -21.45% |
| 2017 | +0.8% | +0.71% |
| 2016 | +30.1% | +30.13% |
| 2015 | -24.6% | — |
| 2014 | -10.3% | — |
| 2013 | +15.6% | — |
| 2012 | +2.0% | — |
| 2011 | -7.8% | — |
| 2010 | +23.4% | — |
| 2009 | +37.1% | — |
| 2008 | -42.9% | — |
| 2007 | +33.5% | — |
| 2006 | +16.4% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 51.5% over that stretch · deepest drop along the way 61.5%, back to its old high 66.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 50.8% over that stretch · deepest drop along the way 50.9%, back to its old high 11.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 19.9% over that stretch · deepest drop along the way 25.7%, back to its old high 17.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.8500 | |
| 2025 | $1.1700 | +8.3% |
| 2024 | $1.0800 | -6.9% |
| 2023 | $1.1600 | -3.3% |
| 2022 | $1.2000 | +30.4% |
| 2021 | $0.9200 | +17.9% |
| 2020 | $0.7800 | -53.3% |
| 2019 | $1.6700 | +125.7% |
| 2018 | $0.7400 | -1.1% |
| 2017 | $0.7480 | +25.1% |
| 2016 | $0.5980 | -30.9% |
| 2015 | $0.8650 | +23.2% |
| 2014 | $0.7020 | +7.5% |
| 2013 | $0.6530 | +9.6% |
| 2012 | $0.5960 | +32.2% |
| 2011 | $0.4510 | -21.7% |
| 2010 | $0.5760 | +59.6% |
| 2009 | $0.3610 | +4.4% |
| 2008 | $0.3457 | -4.2% |
| 2007 | $0.3610 | -6.1% |
| 2006 | $0.3843 |
What's inside
As of Jun 30, 2026, the fund held 151 securities; the ten largest made up 39.99% of assets. It also reported 7.09% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Exxon Mobil Corp. | 9.48% | |
| Chevron Corp. | 8.81% | |
| ConocoPhillips | 3.60% | |
| Enbridge, Inc. | 3.36% | |
| Newmont Corp. | 2.83% | |
| Williams Cos., Inc. (The) | 2.58% | |
| Freeport-McMoRan, Inc. | 2.57% | |
| Canadian Natural Resources Ltd. | 2.34% | |
| Agnico Eagle Mines Ltd. | 2.24% | |
| Valero Energy Corp. | 2.20% | |
| Marathon Petroleum Corp. | 2.12% | |
| CRH plc | 2.03% | |
| SLB Ltd. | 1.97% | |
| EOG Resources, Inc. | 1.96% | |
| TC Energy Corp. | 1.96% |
By country
United States 66.88%Canada 25.38%Ireland 2.88%Curaçao 1.97%Switzerland 0.92%By asset type
Stocks 99.78%By sector
Sectors of the companies held, for the 54.3% 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 Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $115.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.87%, -3.55%, -6.17%.
How it works
IGE tracks the S&P North American Natural Resources Sector Index, run by S&P Dow Jones Indices. The index holds U.S.-traded stocks of natural resource companies in the U.S. and Canada. It picks them from the energy and materials sectors of GICS, a standard system for sorting companies by industry. Chemical companies and steel makers are left out. Large, mid-size and small companies can all qualify. The index provider, not BlackRock, decides which stocks are in the index and how much each one weighs.
BlackRock uses "representative sampling." This means it buys a selection of index stocks that together match the index's size, industry mix, yield and other traits, so the fund may not own every stock in the index. In normal conditions, at least 80% of net assets must be in index stocks. As of June 30, 2026, the fund held 151 stocks, and the 10 largest made up about 40% of assets. Exxon Mobil (9.5%) and Chevron (8.8%) were the biggest positions. About 67% of assets were in U.S. companies and 25% in Canadian ones.
The fund may also hold cash, money market funds and derivatives to help it track the index. On June 30, 2026, it held two very small stock-index futures positions. It may lend out securities worth up to one-third of its assets, and its 7.1% cash position was probably mostly collateral from that lending. Portfolio turnover was 7%, which means little trading.
What it really costs
- IGE charges 0.37% a year, versus an average of 0.29% for the similar funds below (5th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $38 in the first year and $468 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IGE | $38 | $119 | $208 | $468 |
In a retirement portfolio
IGE puts concentrated money into one cyclical part of the market and has lost more than half its value more than once, so it fits better as a small side position than as a core holding.
IGE adds a larger stake in oil, gas, pipeline and mining companies than a broad stock fund holds. At times it has moved differently from the wider market. Between the market's high and low in the 2022 bear market, it gained 19.9%, even though it fell 25.7% between June and September of that year. In other crises it was hit hard. It fell 61.5% in 2008 and took about 67 months to recover. It fell 50.9% in the 2020 crash. Its deepest drop was 67.5%, from July 2014 to March 2020, and it did not fully recover until March 2022.
Someone who has to sell shares or take income during a slump like that would lock in large losses. The yield was 1.84% as of October 27, 2026, paid quarterly. Under the SEC's standard example, costs come to $468 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 wanting oil, pipeline and mining stocks together, from Exxon Mobil (9.5%) and Chevron (8.8%) to Enbridge and Newmont, as of June 30, 2026.
- Investors seeking U.S. and Canadian resource stocks through the S&P North American Natural Resources Sector Index; Canada was about 25% (June 30, 2026).
- Patient investors who can ride commodity cycles; it returned 19.93% a year over five years but 9.18% over ten, to December 31, 2025.
Look elsewhere if
- Cost-focused investors: the 0.37% yearly expense ratio tops the 0.29% peer average and energy-only funds like XLE (0.08%) and VDE (0.09%).
- Anyone who may need to withdraw money during slumps: the fund fell 67.5% from July 2014 to March 2020, recovering by March 2022.
- Retirees needing sizable income: the yield over the past 12 months, paid quarterly, was 1.84% as of October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IGE this fund | — | 0.37% | $707.9M | +40.9% | +21.2% |
| NANR SPDR S&P North American Natural Resources E… | 62% | 0.35% | $735.5M | +40.6% | +22.6% |
| IXC iShares Global Energy ETF | 61% | 0.41% | $2.00B | +54.8% | +20.9% |
| FTXN First Trust Nasdaq Oil & Gas ETF | 49% | 0.6% | $180.7M | +57.0% | +16.5% |
| XLE Energy Select Sector SPDR Fund | 48% | 0.08% | $35.72B | +64.6% | -4.0% |
| FENY Fidelity MSCI Energy Index ETF | 47% | 0.084% | $2.01B | +56.9% | +20.5% |
| VDE Vanguard Energy ETF | 47% | 0.09% | $13.26B | +62.1% | +21.4% |
| IYE iShares U.S. Energy ETF | 44% | 0.39% | $1.76B | +56.7% | +20.5% |
Questions investors ask
What's the difference between IGE and NANR?
IGE and NANR are similar funds that differ mostly in cost and exact holdings. Both hold North American natural resource stocks, and about 62% of their holdings overlapped in June 30, 2026 reports. NANR, the SPDR S&P North American Natural Resources ETF, costs 0.35% a year, compared with 0.37% for IGE. Returns have been close. Through October 27, 2026, IGE returned 40.9% over one year and 21.2% a year over three years. NANR returned 40.6% and 22.6%. Each had roughly $700 million in assets.
Does IGE pay dividends?
Yes, IGE pays dividends every quarter. Over the 12 months to October 27, 2026, it paid $1.21 per share, a yield of 1.84%. The money comes from dividends paid by the companies the fund owns, such as Exxon Mobil, Chevron and Enbridge. So the amount can rise or fall with those companies' profits, which tend to follow energy and metal prices. Investors who mainly want income may find the yield modest.
Is IGE just an oil and gas fund?
No. Energy companies make up most of the fund, but IGE also holds miners and materials companies. As of June 30, 2026, Exxon Mobil (9.5%) and Chevron (8.8%) made up about 18% of assets together, and ConocoPhillips and Enbridge were also large positions. Newmont, Freeport-McMoRan, Agnico Eagle Mines and CRH were among the 15 largest holdings too. The index leaves out chemical companies and steel makers.
What is IGE's expense ratio?
IGE's expense ratio is 0.37% a year, according to its prospectus filed July 27, 2026. Under the SEC's standard example, $10,000 invested with a 5% annual return would cost about $38 in the first year and $468 over 10 years. That is above the 0.29% average for similar funds and ranks 5th of 8 on cost. Large energy-only funds cost much less: XLE charges 0.08% and VDE 0.09%. Both hold a narrower mix of companies.
How has IGE performed over the long term?
IGE has had strong recent years but uneven long-term results. As of December 31, 2025, its average annual return was 19.93% over five years and 9.18% over ten years. The S&P Global Broad Market Index returned 10.5% and 11.28% over the same periods. The ride was rough. The fund lost 21.45% in 2018 and 19.46% in 2020, including a 44.01% drop in the first quarter of 2020. It then gained 39.27% in 2021 and 33.35% in 2022.