At a glance
ILCB charges 0.03% a year, the same as the average of the 7 funds most like it (the 3rd cheapest of 8). It has $950.0M in assets, the 6th largest of that group; it paid 0.98% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +13.4% with distributions reinvested (S&P 500: +11.5%), 3rd of those 8 funds; over three years it returned +25.0% a year. At its worst it fell 25.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low.
The short version
iShares Morningstar U.S. Equity ETF (ILCB) is a BlackRock index fund. As its name says, it follows a Morningstar index of U.S. stocks. Its main draw is low cost: its expense ratio of 0.03% a year matches the 0.03% average of similar broad U.S. stock ETFs. Its income is modest, with a trailing yield of 0.98% as of October 27, 2026, paid quarterly.
Price history
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ILCB +13.4% 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 | |
|---|---|---|---|---|---|---|
| ILCB price data to Oct 27, 2026 | +13.9% | +13.4% | +25.0% | +12.2% | — | +13.7% |
- Over the year to Oct 27, 2026, ILCB returned +13.4%, 3rd of 8 among similar funds.
- Its 5-year annualized return was +12.2%.
- Its worst full calendar year was 2022 (-19.5%); its best was 2023 (+26.9%).
- The deepest fall in its price history was 25.5% (Dec 29, 2021 to Oct 12, 2022), recovered by Dec 13, 2023.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +13.9% |
| 2025 | +17.7% |
| 2024 | +25.0% |
| 2023 | +26.9% |
| 2022 | -19.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Not in the price data, which starts Mar 26, 2021 |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Mar 26, 2021 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 25.4% over that stretch · deepest drop along the way 25.4%, back to its old high 14 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7400 | |
| 2025 | $1.0500 | +9.4% |
| 2024 | $0.9600 | +3.2% |
| 2023 | $0.9300 | +6.9% |
| 2022 | $0.8700 |
How it works
ILCB is an index fund. Instead of a manager picking stocks, it aims to match the return of a Morningstar index of U.S. stocks, as its name indicates. BlackRock runs it under the iShares brand. The fund's prospectus was not available for this review. So the exact index name, its rules for choosing and weighting companies, and its rebalancing schedule are not covered here.
Its structure is plain. It does not use leverage, does not bet against the market, and does not sell options to raise income. It owns stocks and passes their dividends to shareholders every quarter. As of October 27, 2026, its one-year beta was 1.01. Beta measures how closely a fund moves with the overall stock market, and 1.0 means it moves in step. That figure suggests ILCB behaves much like a broad U.S. stock market fund.
Like any ETF, it trades on an exchange throughout the day. That means the market price can differ slightly from the value of the stocks it holds. The fund's record dates back to June 28, 2004. The index rules and the full list of holdings are in the iShares prospectus and on the fund's web page.
What it really costs
- ILCB charges 0.03% a year, versus an average of 0.03% for the similar funds below (3rd of 8, cheapest first).
In a retirement portfolio
It is a low-cost, plain index fund of U.S. stocks that has moved almost in step with the broad market.
ILCB could serve as the U.S. stock core of a portfolio at a cost of 0.03% a year. Its price history starts in March 2021, so it has no record for the 2008 crisis or the 2020 crash. In the 2022 bear market it fell 25.4% between January 3 and October 12, 2022. It did not get back to its old high until December 13, 2023, about 14 months later. Its worst calendar year was 2022, at −19.5%. Anyone who had to sell shares or draw income during that stretch would have locked in losses. Holding cash or bonds elsewhere is one way people avoid selling stocks in a bad year. Income is small: the trailing yield was 0.98% as of October 27, 2026, paid quarterly. 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 one broad U.S. stock index fund for 0.03% a year, in line with similar funds.
- Long-term holders who can sit through drops like 2022's 25.4% fall, which took about 14 months to recover.
- People who reinvest dividends or don't need much income from this fund; its yield was 0.98% as of October 27, 2026.
Look elsewhere if
- Income seekers: its quarterly payouts totaled $1.05 a share over the 12 months to October 27, 2026, a yield of 0.98%.
- People focused on cost: BKLC lists a 0% expense ratio and BBUS lists 0.02%, both below ILCB's 0.03%.
- Anyone who may need to sell within a few years: it lost 19.5% in 2022 and its three-year volatility was 15%.
Close alternatives
Matched by legacy category (no holdings report for this fund).
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| ILCB this fund | 0.03% | $950.0M | +13.4% | +25.0% |
| USPX Franklin U.S. Equity Index ETF | 0.03% | $1.20B | +12.9% | +24.9% |
| SCHX Schwab U.S. Large-Cap ETF | 0.03% | $49.80B | +10.9% | +21.9% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 0% | $3.20B | +13.4% | +25.4% |
| BBUS JPMorgan BetaBuilders U.S. Equity ETF | 0.02% | $4.30B | +13.0% | +24.8% |
| STXF Strive 500 ETF | 0.05% | $778.0M | +13.5% | +25.1% |
| VOTE TCW Transform 500 ETF | 0.05% | $718.8M | +13.5% | +25.2% |
| PBUS Invesco MSCI USA ETF | 0.04% | $5.80B | +13.1% | +24.9% |
Questions investors ask
What index does ILCB track?
ILCB follows a Morningstar index of U.S. stocks, as its full name, iShares Morningstar U.S. Equity ETF, indicates. The fund's prospectus was not available for this review, so the exact index name, the number of stocks and the largest holdings can't be confirmed here. As of October 27, 2026, its one-year beta was 1.01, so it has moved almost exactly in line with the broad market. The full holdings list is on the iShares fund page.
ILCB vs BBUS: what's the difference?
Both are low-cost, broad U.S. stock ETFs. JPMorgan BetaBuilders U.S. Equity ETF (BBUS) charges 0.02% a year, compared with 0.03% for ILCB. BBUS is also bigger, with about $4.3 billion in net assets versus roughly $950 million for ILCB. Returns have been close. As of October 27, 2026, ILCB returned 13.4% over one year and 25% a year over three years, versus 13% and 24.8% for BBUS. Before choosing between them, it is worth comparing each fund's index and holdings.
Does ILCB pay dividends?
Yes. ILCB pays dividends every quarter, passing along what the companies it owns pay out. Over the 12 months to October 27, 2026, it paid $1.05 a share, a trailing yield of 0.98%. A trailing yield is the past year's payouts divided by the share price. That is a modest income stream, typical of a broad stock fund. It is not designed for investors who rely mainly on dividends.
What is ILCB's expense ratio?
ILCB's expense ratio is 0.03% a year. The expense ratio is the yearly fee taken from the fund's assets. That matches the 0.03% average of the similar broad U.S. stock ETFs it is compared with, and ranks 3rd lowest of 8. A few rivals cost less: BNY Mellon US Large Cap Core Equity ETF (BKLC) lists 0% and JPMorgan BetaBuilders U.S. Equity ETF (BBUS) lists 0.02%. Schwab U.S. Large-Cap ETF (SCHX) also charges 0.03%.
How much did ILCB drop in 2022?
ILCB lost 19.47% in calendar year 2022, its worst year on record since its price history began in March 2021. From peak to low the fall was deeper. It dropped 25.5% from December 29, 2021, to October 12, 2022, and only regained that peak on December 13, 2023, about 14 months later. It then gained 26.9% in 2023 and 24.96% in 2024. Past results don't predict future ones.