At a glance
ISHP charges 0.6% a year, above the 0.29% average of the 6 funds most like it (the 6th cheapest of 7). It has $5.0M in assets, the 7th largest of that group; it paid 1.24% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −16.4% with distributions reinvested (S&P 500: +11.5%), the weakest of those 7 funds; over three years it returned +15.3% a year. Its ten largest positions make up 20.5% of the fund, out of 61 in all.
The short version
First Trust S-Network E-Commerce ETF (ISHP) tracks the S-Network Global E-Commerce Index, a basket of online retailers, marketplaces, ad-supported platforms and payment and logistics firms worldwide. It takes the 15 largest eligible stocks in each of those four segments and weights them equally, so Wayfair counts as much as Alphabet. The catches: a 0.60% expense ratio, more than double the 0.29% peer average, and just $5 million in assets as of June 30, 2026.
Price history
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ISHP -16.4% 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 | |
|---|---|---|---|---|---|---|
| ISHP official prospectus, to Dec 31, 2025 | — | +11.94% | — | +7.89% | — | +8.80% |
| ISHP price data to Oct 27, 2026 | -10.8% | -16.4% | +15.3% | — | — | +2.6% |
- Over the year to Oct 27, 2026, ISHP returned -16.4%, 7th of 7 among similar funds.
- Its worst full calendar year was 2025 (+12.3%); its best was 2024 (+24.2%).
- The deepest fall in its price history was 42.7% (Feb 9, 2022 to Nov 3, 2022), recovered by Oct 2, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -10.8% | — |
| 2025 | +12.3% | +11.94% |
| 2024 | +24.2% | +24.27% |
| 2023 | +22.2% | +24.32% |
| 2022 | — | -34.36% |
| 2021 | — | +28.80% |
| 2020 | — | +15.41% |
| 2019 | — | +20.22% |
| 2018 | — | -2.06% |
| 2017 | — | +9.43% |
| 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 | Not in the price data, which starts Jan 27, 2022 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Jan 27, 2022 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1400 | |
| 2025 | $0.5200 | +44.4% |
| 2024 | $0.3600 | -20.0% |
| 2023 | $0.4500 |
What's inside
As of Jun 30, 2026, the fund held 61 securities; the ten largest made up 20.53% of assets.
| Holding | Weight | |
|---|---|---|
| ALLEGRO.EU SA | 2.31% | |
| WAYFAIR INC | 2.16% | |
| REDDIT INC | 2.14% | |
| WILLIAMS SONOMA INC | 2.08% | |
| DOORDASH INC | 2.04% | |
| BEST BUY CO INC | 2.01% | |
| PINTEREST INC | 2.00% | |
| EBAY INC | 1.99% | |
| ALPHABET INC | 1.92% | |
| EXPEDIA GROUP INC | 1.89% | |
| AIRBNB INC | 1.89% | |
| GLOBAL PAYMENTS INC | 1.88% | |
| CORPAY INC | 1.85% | |
| SCOUT24 SE | 1.84% | |
| CAR GROUP LTD | 1.84% |
By country
United States 53.44%Cayman Islands 12.82%United Kingdom 5.3%Germany 3.66%Japan 3.36%By asset type
Stocks 99.63%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.86%, -2.19%, -3.80%.
How it works
ISHP is an index fund: it aims to match, before fees, the S-Network Global E-Commerce Index, owned and maintained by VettaFi LLC. To be added, a company must belong to the broader S-Network Global 5500 Index, meet size and trading standards, and earn at least half its revenue from one or more of four segments: content navigation (search and social sites paid by advertisers), online retail, online marketplaces, and e-commerce infrastructure such as payments and logistics.
The index takes the 15 largest eligible stocks by market value in each segment and gives every stock the same weight. As of June 30, 2026, the fund held 61 stocks; the largest, Allegro.eu, was 2.3% of assets, Alphabet was 1.9%, and the top 10 totaled 20.5%. Weights drift with prices until the index resets them and updates its membership each quarter; the fund then trades to match. Turnover, the share of holdings replaced in a year, was 41%.
The fund holds stocks worldwide, including in emerging markets, so currency swings affect returns; 53.4% of assets were in US companies as of June 30, 2026. Some Chinese companies are closed to direct foreign investment, so the fund owns shares of offshore shell companies tied to them by contracts, a setup called a variable interest entity (VIE), rather than the businesses themselves.
What it really costs
- ISHP charges 0.6% a year, versus an average of 0.29% for the similar funds below (6th of 7, cheapest first).
In a retirement portfolio
It is a narrow, higher-cost bet on e-commerce stocks that lost 34.36% in 2022, so it fits at the edges of a portfolio rather than at its center.
ISHP could add exposure to e-commerce companies, from Allegro.eu to DoorDash, alongside a broad stock fund, but it has fallen hard in downturns. Launched in 2016, it missed the 2008 crisis. In the 2020 COVID crash it lost 26.74% in the first quarter, then gained 30.45% in the second. Its worst calendar year was 2022, down 34.36%. In prices tracked since January 2022, its deepest drop was 42.7%, from February to November 2022, and it took 23 months from that low to recover. Cashing out or drawing income in a slump like that would have locked in steep losses.
Income is small: it yielded 1.24% over the 12 months to October 27, 2026, paid twice a year. The 0.60% expense ratio is more than double the 0.29% average of similar funds. Past results don't predict future returns, and a sound plan looks at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting an equal-weighted e-commerce slice, not one led by giants: Wayfair, Reddit, DoorDash and Alphabet each held roughly 2% as of June 30, 2026.
- Investors seeking global e-commerce exposure: just 53.4% sat in US companies on June 30, 2026, with the rest spread from the UK to Japan.
- Long-term holders able to sit through a 42.7% drop in 2022 and a 23-month climb back from the low.
Look elsewhere if
- Cost-focused investors: ISHP charges 0.60% a year, versus 0.09% for VCR and 0.08% for XLY, both broad consumer discretionary funds.
- Anyone wary of tiny funds, which are likelier to close: ISHP held about $5 million on June 30, 2026, smallest of the seven funds compared.
- Retirees needing steady income: ISHP yielded 1.24% over the 12 months to October 27, 2026, paid only twice a year.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ISHP this fund | — | 0.6% | $5.0M | -16.4% | +15.3% |
| IBUY Amplify Online Retail ETF | 28% | 0.65% | $107.3M | -6.8% | +20.2% |
| RSPD Invesco S&P 500 Equal Weight Consumer Discr… | 18% | 0.4% | $328.9M | -4.9% | +13.3% |
| XLY Consumer Discretionary Select Sector SPDR F… | 11% | 0.08% | $22.59B | -0.5% | -8.0% |
| VCR Vanguard Consumer Discretionary ETF | 11% | 0.09% | $6.63B | -2.6% | +16.3% |
| RXI iShares Global Consumer Discretionary ETF | 10% | 0.41% | $251.7M | -7.8% | +13.3% |
| FDIS Fidelity MSCI Consumer Discretionary Index … | 10% | 0.084% | $1.68B | -2.3% | +16.4% |
Questions investors ask
What stocks does ISHP hold?
ISHP held 61 e-commerce stocks as of June 30, 2026, at roughly equal weights. The five largest were Allegro.eu (2.3%), Wayfair (2.2%), Reddit (2.1%), Williams-Sonoma (2.1%) and DoorDash (2.0%). Pinterest, eBay, Alphabet and Expedia were also in the top 10. Together, the top 10 made up just 20.5% of assets. The prospectus notes significant investments in consumer discretionary and communication services companies, and 53.4% of assets were in US companies.
Does ISHP pay dividends?
Yes, but the payout is small. ISHP makes distributions twice a year, and over the 12 months to October 27, 2026, it paid $0.43 per share, a yield of 1.24%. The fund's goal is to track an e-commerce stock index, not to produce income, so most of any return has to come from changes in the share price. Retirees who rely on portfolio income may find funds built for yield a closer fit.
What's the difference between ISHP and IBUY?
The biggest differences are size and returns. Amplify Online Retail ETF (IBUY) is ISHP's closest match by holdings, though their overlap is limited. IBUY had about $107 million in assets versus roughly $5 million for ISHP as of June 30, 2026. ISHP is slightly cheaper, at 0.60% a year versus 0.65%. Through October 27, 2026, IBUY lost 6.8% over one year and gained 20.2% a year over three years, versus a 16.4% loss and 15.3% a year for ISHP.
How has ISHP performed over the long term?
ISHP averaged 8.8% a year from its September 2016 launch through December 31, 2025, and 7.89% a year over the five years to that date, according to its prospectus. The path was bumpy: it lost 34.36% in 2022, then gained 24.32% in 2023 and 24.27% in 2024. It rose 11.94% in 2025 but fell 16.4% in the year through October 27, 2026, based on market prices.
What is ISHP's expense ratio?
ISHP's expense ratio is 0.60% a year, according to its prospectus filed July 29, 2026. That is more than double the 0.29% average of the six similar funds compared here, and only IBUY, at 0.65%, costs more. Broad consumer discretionary index funds are far cheaper: XLY charges 0.08%, Fidelity MSCI Consumer Discretionary Index ETF (FDIS) 0.084% and Vanguard Consumer Discretionary ETF (VCR) 0.09%, though they track the broader sector rather than an e-commerce index.