At a glance
IYE charges 0.37% a year, above the 0.33% average of the 8 funds most like it (the 4th cheapest of 9). It has $1.76B in assets, the 5th largest of that group; it paid 1.88% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +56.7% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +20.5% a year. At its worst it fell 56.8% in the 2020 crash (S&P 500: 33.7%) and 25.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 4 months after the lows. Its ten largest positions make up 70.4% of the fund, out of 40 in all.
The short version
BlackRock's iShares U.S. Energy ETF (IYE) tracks the Russell 1000 Energy RIC 22.5/45 Capped Index, giving focused exposure to about 40 U.S. oil and gas producers, refiners and pipeline companies. It is top-heavy: ExxonMobil and Chevron made up about 22.7% and 16% of assets as of July 31, 2026. Its expense ratio (annual fee) of 0.37% is far above Fidelity's FENY (0.084%) and Vanguard's VDE (0.09%), which hold largely the same stocks.
Price history
The interactive chart needs JavaScript.
IYE +56.7% 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 | |
|---|---|---|---|---|---|---|
| IYE official prospectus, to Dec 31, 2025 | — | +7.41% | — | +22.31% | +7.14% | — |
| Russell3000Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| IYE price data to Oct 27, 2026 | +53.7% | +56.7% | +20.5% | +21.6% | +10.3% | +7.5% |
- Over the year to Oct 27, 2026, IYE returned +56.7%, 7th of 9 among similar funds.
- Its 5-year annualized return was +21.6% and its 10-year +10.3%.
- In the 2020 COVID crash it fell 56.8% and regained its old high 11.6 months after the low.
- Its worst full calendar year was 2008 (-37.2%); its best was 2022 (+60.2%).
- The deepest fall in its price history was 73.7% (Jun 23, 2014 to Mar 18, 2020), recovered by May 6, 2022.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +53.7% | — |
| 2025 | +7.3% | +7.41% |
| 2024 | +6.1% | +6.04% |
| 2023 | -2.2% | -2.29% |
| 2022 | +60.2% | +60.36% |
| 2021 | +53.5% | +53.37% |
| 2020 | -33.5% | -33.44% |
| 2019 | +10.0% | +9.93% |
| 2018 | -19.4% | -19.20% |
| 2017 | -1.8% | -1.95% |
| 2016 | +25.5% | +25.60% |
| 2015 | -22.2% | — |
| 2014 | -9.6% | — |
| 2013 | +25.7% | — |
| 2012 | +4.3% | — |
| 2011 | +3.7% | — |
| 2010 | +19.0% | — |
| 2009 | +19.3% | — |
| 2008 | -37.2% | — |
| 2007 | +35.8% | — |
| 2006 | +20.1% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 47% over that stretch · deepest drop along the way 55.8%, back to its old high 54.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 56.5% over that stretch · deepest drop along the way 56.8%, back to its old high 11.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 43.6% over that stretch · deepest drop along the way 25.6%, back to its old high 3.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.0100 | |
| 2025 | $1.3500 | +7.1% |
| 2024 | $1.2600 | -4.5% |
| 2023 | $1.3200 | -15.4% |
| 2022 | $1.5600 | +73.3% |
| 2021 | $0.9000 | -6.2% |
| 2020 | $0.9600 | -54.9% |
| 2019 | $2.1300 | +117.3% |
| 2018 | $0.9800 | -7.5% |
| 2017 | $1.0600 | +21.8% |
| 2016 | $0.8700 | -24.3% |
| 2015 | $1.1500 | +25.0% |
| 2014 | $0.9200 | +17.8% |
| 2013 | $0.7810 | +14.9% |
| 2012 | $0.6800 | +21.9% |
| 2011 | $0.5580 | +11.8% |
| 2010 | $0.4990 | +2.0% |
| 2009 | $0.4890 | +12.2% |
| 2008 | $0.4357 | +15.8% |
| 2007 | $0.3763 | +5.6% |
| 2006 | $0.3563 |
What's inside
As of Jul 31, 2026, the fund held 40 securities; the ten largest made up 70.36% of assets.
| Holding | Weight | |
|---|---|---|
| EXXONMOBIL HOLDINGS CORPORATION | 22.73% | |
| CHEVRON CORPORATION | 16.01% | |
| CONOCOPHILLIPS | 6.44% | |
| MARATHON PETROLEUM CORPORATION | 4.08% | |
| VALERO ENERGY CORPORATION | 4.06% | |
| THE WILLIAMS COMPANIES, INC. | 3.83% | |
| PHILLIPS 66 | 3.72% | |
| EOG RESOURCES, INC. | 3.49% | |
| SLB N.V. | 3.25% | |
| KINDER MORGAN, INC. | 2.74% | |
| BAKER HUGHES COMPANY | 2.63% | |
| TARGA RESOURCES CORP. | 2.52% | |
| ONEOK, INC. | 2.51% | |
| CHENIERE ENERGY, INC. | 2.42% | |
| DEVON ENERGY CORPORATION | 2.23% |
By country
United States 95.12%Curaçao 3.25%United Kingdom 1.24%Ireland 0.27%By asset type
Stocks 99.88%By sector
Sectors of the companies held, for the 63.6% 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 Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $31.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -5.31%, -4.86%, +11.51%.
How it works
IYE tracks the Russell 1000 Energy RIC 22.5/45 Capped Index from FTSE Russell, which is part of the London Stock Exchange Group. The index takes the energy companies in the Russell 1000, roughly the 1,000 largest U.S. stocks. It then weights them by float-adjusted market value, meaning the value of the shares available for public trading. Both large and mid-size companies can qualify.
A few giants dominate U.S. energy, so the index sets limits at each quarterly rebalance. No single company can be more than 22.5% of the index. Companies that are each above 4.5% can't add up to more than 45% together. Between rebalances, price moves can push weights past these limits. As of July 31, 2026, ExxonMobil was 22.7% of the fund and Chevron was 16.0%. The top 10 holdings made up about 70%.
BlackRock runs the fund using representative sampling. It holds a selection of stocks picked to match the index's overall profile, so it may not own every member. At least 80% of net assets must be in index components. The fund may also use derivatives such as index futures, which were 0.01% of assets as of July 31, 2026. It can hold cash and lend out up to one-third of its total assets to other investors for a fee. Portfolio turnover, the share of holdings replaced in a year, was a low 8%.
What it really costs
- IYE charges 0.37% a year, versus an average of 0.33% for the similar funds below (4th of 9, 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 |
|---|---|---|---|---|
| IYE | $38 | $119 | $208 | $468 |
In a retirement portfolio
IYE is a concentrated bet on one cyclical sector, and it has had very deep drops, so it fits best as a small add-on rather than a foundation.
IYE could add exposure to U.S. oil producers, refiners and pipeline companies, which sometimes move differently from the broad market. During the 2022 bear market it gained 43.6% while stocks fell, though it still dropped 25.6% in June and July 2022. Other crises were harsh. It fell 55.8% from May 2008 to March 2009 and did not recover until September 2013. It lost 56.8% in early 2020. Its deepest drop, 73.7% from June 2014 to March 2020, did not recover until May 2022. Anyone forced to sell shares during stretches like these would lock in steep losses. The yield was 1.88% as of October 27, 2026, paid quarterly. Costs are 0.37% a year, about $38 in the first year 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 a modest energy slice alongside a broad U.S. stock fund, covering ExxonMobil, Chevron, ConocoPhillips, refiners and pipeline companies with a single purchase.
- Investors who like some dividend income: IYE pays quarterly, and its yield over the past year was 1.88% as of October 27, 2026.
- Patient investors who can ride out long slumps: the fund fell 73.7% from June 2014 to March 2020 and did not recover until May 2022.
Look elsewhere if
- Cost-focused investors: Fidelity's FENY (0.084%) and Vanguard's VDE (0.09%) share about 90% of IYE's holdings yet charge far less than IYE's 0.37% expense ratio.
- Retirees who need steady withdrawals: energy is cyclical, and the fund lost 33.44% in 2020 and 19.2% in 2018.
- Investors seeking broad market growth: over the decade to December 31, 2025, IYE returned 7.14% a year versus 14.29% for the Russell 3000 Index.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IYE this fund | — | 0.37% | $1.76B | +56.7% | +20.5% |
| FENY Fidelity MSCI Energy Index ETF | 91% | 0.084% | $2.01B | +56.9% | +20.5% |
| VDE Vanguard Energy ETF | 90% | 0.09% | $13.26B | +62.1% | +21.4% |
| XLE Energy Select Sector SPDR Fund | 66% | 0.08% | $35.72B | +64.6% | -4.0% |
| FTXN First Trust Nasdaq Oil & Gas ETF | 60% | 0.6% | $180.7M | +57.0% | +16.5% |
| RSPG Invesco S&P 500 Equal Weight Energy ETF | 59% | 0.4% | $573.6M | +56.1% | +19.7% |
| FXN First Trust Energy AlphaDEX Fund | 50% | 0.61% | $379.1M | +58.5% | +15.6% |
| IXC iShares Global Energy ETF | 42% | 0.41% | $2.00B | +54.8% | +20.9% |
Questions investors ask
What does IYE invest in?
IYE invests in U.S. energy stocks from the Russell 1000 Energy RIC 22.5/45 Capped Index, from oil producers and refiners to pipeline and oilfield service companies. As of July 31, 2026, its largest holdings were ExxonMobil (22.7%), Chevron (16.0%), ConocoPhillips (6.4%), Marathon Petroleum (4.1%) and Valero (4.1%). The top 10 made up about 70% of the fund's $1.76 billion in net assets, and stocks made up 99.9% of the portfolio.
What's the difference between IYE and VDE?
The main difference is cost. IYE charges 0.37% a year, while Vanguard Energy ETF (VDE) charges 0.09%. Their holdings overlap by about 90%, and both returned 56.7% over the year to October 27, 2026, and 20.5% a year over three years. VDE is also much larger, with $13.3 billion in net assets as of August 31, 2026. Fidelity MSCI Energy Index ETF (FENY) charges 0.084%, overlaps IYE by 91% and is also worth comparing.
Does IYE pay monthly dividends?
No. IYE pays dividends quarterly, not monthly. Its trailing 12-month yield was 1.88% as of October 27, 2026, or about $1.35 per share. The trailing yield is the past year's payouts divided by the share price. Energy companies' dividends can rise and fall with oil and gas prices, so the fund's payouts aren't fixed and can change from one quarter to the next.
What is IYE's expense ratio?
IYE's expense ratio is 0.37% a year, according to its prospectus filed August 21, 2026. The SEC's standard example assumes $10,000 invested with a 5% yearly return. On that basis, costs come to about $38 after one year, $208 after five years and $468 after ten. The average for similar funds was 0.33%. Several large energy ETFs cost much less, including XLE at 0.08% and VDE at 0.09%.
Is IYE a good long-term investment?
Its long-term record has been profitable but very uneven. Through December 31, 2025, IYE returned 7.14% a year over 10 years, compared with 14.29% for the Russell 3000 Index. Over five years it led, with 22.31% a year against 13.15%. Calendar-year returns ranged from -33.44% in 2020 to 60.36% in 2022. Its deepest drop was 73.7%, from June 2014 to March 2020, and it didn't recover until May 2022.