At a glance
ITOT charges 0.03% a year, below the 0.06% average of the 8 funds most like it (the 2nd cheapest of 9). It has $94.14B in assets, the 5th largest of that group; it paid 1.03% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +11.4% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +21.8% a year. At its worst it fell 35.0% in the 2020 crash (S&P 500: 33.7%) and 25.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 14 months after the lows. Its ten largest positions make up 32.1% of the fund, out of 2,498 in all.
The short version
iShares Core S&P Total U.S. Stock Market ETF (ITOT), from BlackRock, tracks the S&P Total Market Index. That index combines the S&P 500 with mid-sized, small and very small U.S. companies. Its 0.03% annual fee, per its July 2026 prospectus, ties Vanguard Total Stock Market ETF (VTI) for lowest among similar funds, which averaged 0.07%. Still, its 10 largest holdings, led by NVIDIA and Apple, made up 32.1% of assets as of June 30, 2026.
Price history
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ITOT +11.4% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ITOT official prospectus, to Dec 31, 2025 | — | +17.02% | — | +13.07% | +14.21% | — |
| S And P Total Market Index index, same period | — | +17.05% | — | +13.07% | +14.22% | — |
| ITOT price data to Nov 2, 2026 | +11.2% | +11.4% | +21.8% | +10.7% | +15.0% | +10.7% |
- Over the year to Nov 2, 2026, ITOT returned +11.4%, 8th of 9 among similar funds.
- Its 5-year annualized return was +10.7% and its 10-year +15.0%.
- In the 2020 COVID crash it fell 35% and regained its old high 4.7 months after the low.
- Its worst full calendar year was 2008 (-36.5%); its best was 2013 (+32.7%).
- The deepest fall in its price history was 55.2% (Oct 9, 2007 to Mar 9, 2009), recovered by Mar 16, 2012.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.2% | — |
| 2025 | +17.0% | +17.02% |
| 2024 | +23.8% | +23.82% |
| 2023 | +26.1% | +26.11% |
| 2022 | -19.5% | -19.51% |
| 2021 | +25.7% | +25.64% |
| 2020 | +20.7% | +20.75% |
| 2019 | +30.7% | +30.87% |
| 2018 | -5.3% | -5.27% |
| 2017 | +21.4% | +21.23% |
| 2016 | +12.6% | +12.59% |
| 2015 | +0.9% | — |
| 2014 | +13.0% | — |
| 2013 | +32.7% | — |
| 2012 | +15.8% | — |
| 2011 | +1.7% | — |
| 2010 | +16.2% | — |
| 2009 | +26.6% | — |
| 2008 | -36.5% | — |
| 2007 | +5.2% | — |
| 2006 | +14.2% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.2% over that stretch · deepest drop along the way 55.2%, back to its old high 36.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35% over that stretch · deepest drop along the way 35%, back to its old high 4.7 months after the low |
| 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 14.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.2000 | |
| 2025 | $1.6500 | +3.8% |
| 2024 | $1.5900 | +3.2% |
| 2023 | $1.5400 | +9.2% |
| 2022 | $1.4100 | +10.2% |
| 2021 | $1.2800 | +4.9% |
| 2020 | $1.2200 | -10.9% |
| 2019 | $1.3700 | +12.3% |
| 2018 | $1.2200 | +18.4% |
| 2017 | $1.0300 | +10.2% |
| 2016 | $0.9350 | 0.0% |
| 2015 | $0.9350 | +16.9% |
| 2014 | $0.8000 | +11.9% |
| 2013 | $0.7150 | +14.4% |
| 2012 | $0.6250 | +19.0% |
| 2011 | $0.5250 | +12.9% |
| 2010 | $0.4650 | 0.0% |
| 2009 | $0.4650 | -14.7% |
| 2008 | $0.5450 | +1.9% |
| 2007 | $0.5350 | +144.3% |
| 2006 | $0.2190 |
What's inside
As of Jun 30, 2026, the fund held 2,498 securities; the ten largest made up 32.1% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp. | 6.63% | |
| Apple, Inc. | 5.81% | |
| Microsoft Corp. | 3.79% | |
| Amazon.com, Inc. | 3.19% | |
| Alphabet, Inc. Class A | 2.86% | |
| Broadcom, Inc. | 2.45% | |
| Alphabet, Inc. Class C | 2.29% | |
| Micron Technology, Inc. | 1.78% | |
| Meta Platforms, Inc. | 1.69% | |
| Tesla, Inc. | 1.62% | |
| Eli Lilly & Co. | 1.30% | |
| Advanced Micro Devices, Inc. | 1.30% | |
| Berkshire Hathaway, Inc. | 1.25% | |
| JPMorgan Chase & Co. | 1.20% | |
| Intel Corp. | 0.90% |
By country
United States 96.49%Ireland 1.88%Switzerland 0.29%Bermuda 0.26%Cayman Islands 0.16%By asset type
Stocks 99.77%Preferred stock 0%Other 0%By sector
Sectors of the companies held, for the 80.8% 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 added a net $2.13B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.42%, +5.17%, -0.36%.
How it works
ITOT follows the S&P Total Market Index, built by S&P Dow Jones Indices, a firm independent of BlackRock. The index joins two parts. The S&P 500 covers large U.S. companies. The S&P Completion Index covers mid-sized, small and very small (micro-cap) companies outside the S&P 500. As of March 31, 2026, they made up about 88% and 12% of the index's value.
Stocks are weighted by float-adjusted market value, which counts only shares available to public investors. Bigger companies get bigger slices, giving a few giants outsized influence. As of June 30, 2026, NVIDIA was 6.6% of the fund, Apple 5.8% and Microsoft 3.8%. The index provider decides which companies join or leave, and the fund follows. Portfolio turnover, a measure of trading, was 3%.
BlackRock uses representative sampling: instead of owning every index stock, it holds a mix matching the index's size, industry, yield and other traits. As of June 30, 2026, it held about 2,500 stocks. Normally at least 80% of net assets sit in index stocks. The fund may also use derivatives such as stock index futures. It can lend out securities worth up to a third of its total assets. It has tracked closely: over the 10 years ended December 31, 2025, the fund returned 14.21% a year versus 14.22% for the index.
What it really costs
- ITOT charges 0.03% a year, versus an average of 0.06% for the similar funds below (2nd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ITOT | $3 | $10 | $17 | $39 |
In a retirement portfolio
It covers nearly the whole U.S. stock market, about 2,500 stocks as of June 30, 2026, for a 0.03% annual fee.
ITOT could anchor the stock side of a portfolio, but it carries full stock-market risk. It fell 55.2% from October 2007 to March 2009 and did not regain that peak until March 2012. It dropped 35% in the 2020 COVID crash, recovering by August 2020, and 25.4% in the 2022 slump, recovering in December 2023. In 2008, its worst year, it lost 36.5%. Withdrawing from it during such slumps locks in losses, so stock funds are often paired with cash or bonds to draw on in down years.
Income is modest: its quarterly dividends totaled $1.69 a share over the 12 months to October 27, 2026, a 1.01% yield. The 0.03% fee is tiny: the SEC's standard example puts its cost at $39 over 10 years on $10,000. Past results don't predict the future, and any plan needs to weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund covering about 2,500 U.S. stocks of every size, as of June 30, 2026, instead of juggling several.
- Long-term holders able to wait out deep drops, such as the 55.2% fall from 2007 to 2009 that took until March 2012 to recover.
- Investors who want mid-sized and small companies the S&P 500 leaves out, at the same 0.03% fee as iShares Core S&P 500 ETF (IVV).
Look elsewhere if
- Income-focused investors: the yield was 1.01% as of October 27, 2026, so most of its return has come from price gains.
- Anyone wary of big-tech concentration: the top 10 holdings, led by NVIDIA, Apple and Microsoft, were 32.1% of assets as of June 30, 2026.
- Retirees needing stable value: it lost 19.51% in 2022, and the prospectus says it doesn't take defensive positions, even in falling markets.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ITOT this fund | — | 0.03% | $94.14B | +11.4% | +21.8% |
| VTI Vanguard Total Stock Market ETF | 91% | 0.03% | $2.30T | +12.5% | +23.4% |
| IWV iShares Russell 3000 ETF | 90% | 0.2% | $19.47B | +11.3% | +21.5% |
| USPX Franklin U.S. Equity Index ETF | 88% | 0.03% | $1.98B | +12.9% | +24.9% |
| SPY SPDR S&P 500 ETF Trust | 87% | 0.0945% | $781.19B | +11.5% | +21.9% |
| VOO Vanguard S&P 500 ETF | 87% | 0.03% | $1.67T | +12.4% | +23.6% |
| IVV iShares Core S&P 500 ETF | 87% | 0.03% | $888.13B | +11.5% | +22.0% |
| VV Vanguard Large Cap ETF | 87% | 0.04% | $73.83B | +12.0% | +23.8% |
Questions investors ask
Is ITOT good for retirement?
It can serve as a core stock holding, but it is almost entirely stocks and can fall hard. ITOT spreads money across about 2,500 U.S. companies (as of June 30, 2026) for a 0.03% annual fee. It lost 55.2% from October 2007 to March 2009 and 35% in the 2020 COVID crash. With a yield of 1.01% as of October 27, 2026, it offers little income, so it is often paired with bonds or cash in retirement.
What's the difference between ITOT and VTI?
Very little in practice. Both are total U.S. stock market ETFs charging 0.03% a year. ITOT comes from BlackRock's iShares and tracks the S&P Total Market Index, while VTI is Vanguard's. Their holdings overlapped by about 91% in the latest N-PORT filings, the holdings reports funds send to the SEC. Returns were nearly identical: as of October 27, 2026, ITOT returned 13.2% over one year versus 13.3% for VTI, and both returned 24.6% a year over three years.
Does ITOT pay dividends?
Yes. ITOT pays dividends quarterly, passing along dividends from the companies it owns. Over the 12 months to October 27, 2026, it paid $1.69 per share, a yield of 1.01%. That is modest, so most of its return has come from rising stock prices: it returned 13.2% over the same period.
What is ITOT's expense ratio?
ITOT's expense ratio, the annual fee taken out of fund assets, is 0.03%, according to its prospectus filed July 27, 2026. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares cashed in at the end. On that basis, costs total about $3 after one year and $39 after 10 years. That ties for lowest among nine similar funds. The other eight averaged 0.07%, and iShares Russell 3000 ETF (IWV) charges 0.20%.
Does ITOT include small-cap stocks?
Yes, but they're a small slice. ITOT's index pairs the S&P 500 with the S&P Completion Index, which covers mid-sized, small and micro-cap companies outside the S&P 500. As of March 31, 2026, that portion made up only about 12% of the index's value, versus about 88% for the S&P 500. So ITOT behaves much like an S&P 500 fund. Its holdings overlapped about 87% with iShares Core S&P 500 ETF (IVV), and its one-year return to October 27, 2026, was 13.2% versus 13.6% for IVV.