At a glance
IWTR charges 0.47% a year, below the 0.52% average of the 3 funds most like it (the cheapest of 4). It has $6.4M in assets, the 3rd largest of that group. Over the past year it returned +0.0% with distributions reinvested (S&P 500: +11.5%), 2nd of those 4 funds; over three years it returned +13.9% a year. Its ten largest positions make up 55.5% of the fund, out of 54 in all.
The short version
iShares MSCI Water Management Multisector ETF (IWTR) is a BlackRock index fund tracking a global index of water businesses plus companies MSCI judges to manage water efficiently. That wider net puts chipmakers such as Taiwan Semiconductor and hotel group Marriott beside water firms Geberit and Xylem. Its 0.47% annual fee is below the 0.52% average of three similar funds, but it is tiny, with about $6.4 million in assets as of May 31, 2025.
Price history
The interactive chart needs JavaScript.
IWTR 0.0% 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 | |
|---|---|---|---|---|---|---|
| IWTR price data to Oct 27, 2026 | 0.0% | 0.0% | +13.9% | — | — | +11.7% |
- Over the year to Oct 27, 2026, IWTR returned 0.0%, 2nd of 4 among similar funds.
- Its worst full calendar year was 2024 (+5.4%); its best was 2025 (+17.3%).
- The deepest fall in its price history was 18.7% (Sep 26, 2024 to Apr 8, 2025), recovered by May 13, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +17.3% |
| 2024 | +5.4% |
| 2023 | +15.3% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.3600 | -65.4% |
| 2024 | $1.0400 | -18.8% |
| 2023 | $1.2800 |
What's inside
As of May 31, 2025, the fund held 54 securities; the ten largest made up 55.53% of assets, and 4.91% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Geberit AG | 7.48% | |
| Xylem Inc/NY | 5.99% | |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.97% | |
| Core & Main Inc | 5.93% | |
| Marriott International Inc/MD | 5.89% | |
| Engie SA | 5.20% | |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 5.10% | |
| NXP Semiconductors NV | 5.03% | |
| Intel Corp | 4.62% | |
| Badger Meter Inc | 4.31% | |
| Texas Instruments Inc | 4.29% | |
| Watts Water Technologies Inc | 3.92% | |
| Zurn Elkay Water Solutions Corp | 3.11% | |
| Wienerberger AG | 2.46% | |
| Kurita Water Industries Ltd | 2.33% |
By country
United States 42.78%Taiwan 8.53%Switzerland 7.48%Brazil 6.6%France 5.27%By asset type
Stocks 95.86%Preferred stock 0.76%What changed recently
- Over the three months to May 31, 2025, investors added a net $1.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.50%, +3.63%, +6.66%.
How it works
IWTR tracks the MSCI ACWI IMI Sustainable Water Transition Extended Capped Index. MSCI starts with a global index of large, mid-size and small companies across 23 developed and 24 emerging markets. It removes tobacco, controversial weapons, civilian firearms, thermal coal and oil sands businesses, firms in serious ESG (environmental, social and governance) controversies, the bottom 25% on MSCI's environmental and water-stress scores, and companies misaligned with UN goals on clean water, responsible production and ocean life.
From what remains, MSCI picks two groups. The "water supply" group covers water utilities and companies earning at least 10% of revenue from water products and services, such as treatment chemicals, smart meters, filters and desalination. The "water usage" group adds companies that score well on managing their own water use. That helps explain why, as of May 31, 2025, chipmakers Taiwan Semiconductor, NXP, Intel and Texas Instruments and hotel group Marriott sat beside Geberit, Xylem, Core & Main and Badger Meter.
On that date the fund held 54 stocks, and the 10 largest made up 55.5% of assets. Portfolio turnover, the share of holdings replaced over a year, was 53%, according to the prospectus. It is a plain stock fund with no leverage; its only derivatives were small stock index futures, about 0.03% of assets.
What it really costs
- IWTR charges 0.47% a year, versus an average of 0.52% for the similar funds below (1st of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $48 in the first year and $591 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IWTR | $48 | $151 | $263 | $591 |
In a retirement portfolio
A concentrated, single-theme stock fund with about $6.4 million in assets as of May 31, 2025, it fits a small slice of a portfolio rather than its core.
IWTR adds a global water theme: as of May 31, 2025, 42.8% of assets were in US stocks, with large stakes in Taiwan, Switzerland and Brazil. It launched in September 2022, after the 2008 and 2020 crashes and late in the 2022 bear market. Each full calendar year from 2023 to 2025 was positive; the weakest was 2024, at 5.4%. Its deepest drop was 18.7%, from September 26, 2024, to April 8, 2025, and it recovered by May 13, 2025. Withdrawals near that low would have come at depressed prices.
It made no distributions in the year to October 27, 2026, so it is not an income source. Its 0.47% annual fee works out to $48 in year one and $591 over 10 years on $10,000 in the SEC's standard example. 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 a global water theme that also includes MSCI-rated efficient water users like Taiwan Semiconductor and Marriott, not just utilities and equipment makers.
- Fee-conscious thematic investors: the 0.47% expense ratio matches the lowest among similar funds and undercuts CGW's 0.59% and AQWA's 0.50%.
- Those wanting ESG screens: the index excludes tobacco, controversial weapons, civilian firearms, thermal coal, oil sands and companies in serious environmental controversies.
Look elsewhere if
- Retirees needing income: IWTR made no distributions in the year to October 27, 2026, so spending money would have to come from cashing out shares.
- Those wary of tiny funds: IWTR had about $6.4 million as of May 31, 2025; CGW had about $1.05 billion as of July 31, 2026.
- Those wanting pure water exposure: as of May 31, 2025, chipmakers TSMC, Intel and Texas Instruments and hotel group Marriott ranked among the largest holdings.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
What does IWTR invest in?
IWTR invests in global stocks chosen by the MSCI ACWI IMI Sustainable Water Transition Extended Capped Index. It owns two kinds of companies: water businesses such as Geberit, Xylem, Core & Main and Brazil's SABESP, and firms MSCI rates as efficient water users, such as Taiwan Semiconductor, NXP, Intel and Marriott. As of May 31, 2025, it held 54 stocks, 42.8% of assets were in US companies, and the 10 largest holdings made up 55.5%.
What is IWTR's expense ratio?
IWTR's expense ratio, the yearly fee taken from fund assets, is 0.47%, according to its prospectus filed December 20, 2024. In the SEC's standard example, $10,000 invested with a 5% yearly return would cost $48 after one year, $263 after five years and $591 after ten. The fee is below the 0.52% average of three similar funds and matches the iShares Environmental Infrastructure and Industrials ETF (EFRA).
Does IWTR pay dividends?
Not in the latest year on record. IWTR made no distributions in the 12 months to October 27, 2026, so its trailing yield, meaning income paid over the past year as a share of the price, was 0% on that date. The fund is built around a water theme rather than income. Retirees who rely on regular payouts may find it worth comparing with dividend-focused stock funds or bond funds, which aim to pay income on a set schedule.
What's the difference between IWTR and CGW?
IWTR costs less but is far smaller. It charges 0.47% a year versus 0.59% for the Invesco S&P Global Water Index ETF (CGW). CGW had about $1.05 billion in net assets as of July 31, 2026, while IWTR had about $6.4 million as of May 31, 2025. Their holdings overlap by about 32%. Over the three years to October 27, 2026, CGW returned 14.8% a year and IWTR 13.9%. IWTR's index also picks companies for efficient water use, not only water revenue.
Is IWTR good for retirement?
IWTR may fit better as a small satellite holding than as the core of a retirement portfolio. It focuses on one theme, held 54 stocks as of May 31, 2025, and made no distributions in the year to October 27, 2026. It launched in September 2022, missing the 2008 and 2020 crashes and most of the 2022 bear market. Its deepest drop was 18.7%, from September 2024 to April 2025. Full calendar years were positive: 15.25% in 2023, 5.39% in 2024 and 17.29% in 2025.