At a glance
IYJ charges 0.37% a year, above the 0.27% average of the 8 funds most like it (the 6th cheapest of 9). It has $1.94B in assets, the 7th largest of that group; it paid 0.67% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +6.4% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +19.2% a year. At its worst it fell 40.0% in the 2020 crash (S&P 500: 33.7%) and 25.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 5 months and 15 months after the lows. Its ten largest positions make up 36.4% of the fund, out of 211 in all.
The short version
iShares U.S. Industrials ETF (IYJ) is a BlackRock index fund that tracks the Russell 1000 Industrials 40 Act 15/22.5 Daily Capped Index. As of July 31, 2026, it held about 211 large and mid-size U.S. companies. Its definition of "industrials" is unusual: Visa and Mastercard were its two largest holdings. It charges 0.37% a year, while similar Vanguard, Fidelity and SPDR industrials funds charge 0.08% to 0.09%.
Price history
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IYJ +6.4% 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 | |
|---|---|---|---|---|---|---|
| IYJ official prospectus, to Dec 31, 2025 | — | +11.94% | — | +9.85% | +12.47% | — |
| Russell3000Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| Russell1000Industrials40Act index, same period | — | +12.35% | — | +10.27% | +12.93% | — |
| IYJ price data to Oct 27, 2026 | +6.6% | +6.4% | +19.2% | +8.3% | +12.2% | +9.7% |
- Over the year to Oct 27, 2026, IYJ returned +6.4%, 8th of 9 among similar funds.
- Its 5-year annualized return was +8.3% and its 10-year +12.2%.
- In the 2020 COVID crash it fell 40% and regained its old high 5.4 months after the low.
- Its worst full calendar year was 2008 (-40.3%); its best was 2013 (+39.9%).
- The deepest fall in its price history was 62.4% (Oct 9, 2007 to Mar 9, 2009), recovered by Jan 2, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.5% | — |
| 2025 | +11.9% | +11.94% |
| 2024 | +17.8% | +17.85% |
| 2023 | +19.9% | +19.87% |
| 2022 | -13.5% | -13.48% |
| 2021 | +17.0% | +16.93% |
| 2020 | +17.4% | +17.43% |
| 2019 | +32.3% | +32.23% |
| 2018 | -11.7% | -11.59% |
| 2017 | +24.0% | +23.97% |
| 2016 | +18.9% | +18.94% |
| 2015 | -2.0% | — |
| 2014 | +6.7% | — |
| 2013 | +39.9% | — |
| 2012 | +16.3% | — |
| 2011 | -2.0% | — |
| 2010 | +24.2% | — |
| 2009 | +24.5% | — |
| 2008 | -40.3% | — |
| 2007 | +12.3% | — |
| 2006 | +12.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 62.4% over that stretch · deepest drop along the way 62.4%, back to its old high 45.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40% over that stretch · deepest drop along the way 40%, back to its old high 5.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.1% over that stretch · deepest drop along the way 25.9%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.7800 | |
| 2025 | $1.2300 | +5.1% |
| 2024 | $1.1700 | -1.7% |
| 2023 | $1.1900 | +16.7% |
| 2022 | $1.0200 | +18.6% |
| 2021 | $0.8600 | -11.8% |
| 2020 | $0.9750 | -11.4% |
| 2019 | $1.1000 | +20.0% |
| 2018 | $0.9166 | -3.5% |
| 2017 | $0.9500 | +13.8% |
| 2016 | $0.8350 | +7.1% |
| 2015 | $0.7800 | +0.6% |
| 2014 | $0.7750 | +49.7% |
| 2013 | $0.5177 | +70.3% |
| 2012 | $0.3040 | +23.7% |
| 2011 | $0.2457 | +20.8% |
| 2010 | $0.2034 | -10.8% |
| 2009 | $0.2280 | -8.4% |
| 2008 | $0.2490 | +13.5% |
| 2007 | $0.2193 | +25.7% |
| 2006 | $0.1745 |
What's inside
As of Jul 31, 2026, the fund held 211 securities; the ten largest made up 36.4% of assets.
| Holding | Weight | |
|---|---|---|
| VISA INC. | 7.23% | |
| MASTERCARD INCORPORATED | 5.54% | |
| GENERAL ELECTRIC COMPANY | 4.45% | |
| CATERPILLAR INC. | 4.43% | |
| RTX CORPORATION | 3.47% | |
| GE VERNOVA INC. | 3.19% | |
| AMERICAN EXPRESS COMPANY | 2.14% | |
| UNION PACIFIC CORPORATION | 2.07% | |
| THE BOEING COMPANY | 1.96% | |
| EATON CORPORATION PUBLIC LIMITED COMPANY | 1.93% | |
| DEERE & COMPANY | 1.75% | |
| CAPITAL ONE FINANCIAL CORPORATION | 1.56% | |
| PARKER-HANNIFIN CORPORATION | 1.47% | |
| LOCKHEED MARTIN CORPORATION | 1.42% | |
| HOWMET AEROSPACE INC. | 1.34% |
By country
United States 91.83%Ireland 7.1%Cayman Islands 0.25%Jersey 0.25%Bermuda 0.16%By asset type
Stocks 99.85%By sector
Sectors of the companies held, for the 73.5% 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 $96.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.48%, +5.69%, -1.62%.
How it works
The fund tracks an index built by FTSE Russell, which is part of the London Stock Exchange Group. The index starts with the Russell 1000, roughly the 1,000 largest U.S. companies, and keeps the ones Russell classifies as industrials. The Russell 1000 weights companies by float-adjusted market value. That means bigger companies count for more, based only on the shares available to the public. Russell's definition of the sector is broad. As of July 31, 2026, the largest holdings were Visa (7.2%), Mastercard (5.5%), General Electric (4.4%), Caterpillar (4.4%) and RTX (3.5%), with American Express and Capital One also in the top 15.
Caps keep a few giants from taking over. At each quarterly rebalance, no single company can be more than 15% of the index. Companies that are each above 4.5% can add up to no more than 22.5% together. Between reviews, Russell checks the index daily. If companies above 4.8% add up to more than 24%, the index is re-capped that day. Even so, the top 10 holdings made up 36.4% of the fund.
BlackRock Fund Advisors uses "representative sampling." It holds a group of stocks that closely resembles the index, but not always every member. At least 80% of assets must be in index stocks. The fund may use derivatives such as futures and may lend up to one-third of its assets. Turnover was 4%, so trading is light.
What it really costs
- IYJ charges 0.37% a year, versus an average of 0.27% for the similar funds below (6th 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 |
|---|---|---|---|---|
| IYJ | $38 | $119 | $208 | $468 |
In a retirement portfolio
It is a single-sector stock fund with deep past drops and little income, so it fits best as a small addition next to broader holdings.
IYJ could add a tilt toward U.S. industrial and payment companies alongside a broad stock fund. It has fallen hard in downturns. Its deepest drop was 62.4%, from October 2007 to March 2009. After that bottom, it took about 46 months to get back to its old high, in January 2013. Its worst calendar year was 2008, at −40.3%. It fell 40% in the 2020 COVID crash and recovered by September 2020. It fell 25.9% in 2022 and didn't recover until December 2023. Anyone who had to sell shares during those stretches would have locked in losses.
Income is small. The trailing yield was 0.67% as of October 27, 2026, paid quarterly. In the SEC's standard $10,000 example, costs come to $38 after one year and $468 after 10 years. 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 industrial names like GE, Caterpillar and RTX mixed with payment companies Visa and Mastercard, which led its holdings as of July 31, 2026.
- Holders of a broad U.S. stock fund looking for a small, capped industrials position with low trading (4% turnover).
- People who can sit through deep drops: it fell 62.4% in 2008–09 and 40% in early 2020 before recovering each time.
Look elsewhere if
- Cost-focused investors: VIS, FIDU and XLI charge 0.08%–0.09% a year. IYJ charges 0.37%, ranking 6th of 9 similar funds on cost.
- Investors who want a pure industrials fund. Visa, Mastercard, American Express and Capital One were among its top holdings as of July 31, 2026.
- Retirees seeking income from their holdings. The trailing yield was just 0.67% as of October 27, 2026, paid quarterly.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IYJ this fund | — | 0.37% | $1.94B | +6.4% | +19.2% |
| VIS Vanguard Industrials ETF | 71% | 0.09% | $8.56B | +7.5% | +21.9% |
| FIDU Fidelity MSCI Industrial Index ETF | 71% | 0.084% | $2.30B | +7.5% | +21.8% |
| XLI Industrial Select Sector SPDR Fund | 59% | 0.08% | $33.96B | +9.4% | +21.3% |
| EXI iShares Global Industrials ETF | 50% | 0.41% | $1.44B | +8.2% | +22.5% |
| FXR First Trust Industrials/Producer Durables A… | 39% | 0.6% | $741.6M | +6.6% | +17.6% |
| SPHQ Invesco S&P 500® Quality ETF | 30% | 0.15% | $19.45B | +13.5% | +19.9% |
| PPA Invesco Aerospace & Defense ETF | 25% | 0.57% | $8.26B | -1.3% | +26.1% |
Questions investors ask
What's the difference between IYJ and VIS?
Both are U.S. industrials index funds, and their holdings overlapped by about 71%. The biggest difference is cost. The Vanguard Industrials ETF (VIS) charges 0.09% a year, compared with 0.37% for IYJ. As of October 27, 2026, VIS returned 7.5% over one year versus 6.4% for IYJ. Over three years, VIS averaged 21.9% a year versus 19.2% for IYJ. IYJ follows a Russell index whose top holdings included Visa and Mastercard.
Why does IYJ hold Visa and Mastercard?
Because its index uses FTSE Russell's definition of the industrials sector, and that definition is broader than some others. As of July 31, 2026, Visa (7.2%) and Mastercard (5.5%) were the fund's two largest holdings. American Express and Capital One were also in the top 15. Of the holdings with sector data, 46.8% of the fund was classed as industrials and 18.8% as financials. Investors expecting only factories, railroads and defense contractors may be surprised.
Does IYJ pay dividends?
Yes. IYJ pays dividends quarterly, but the amounts are small. Over the 12 months through October 27, 2026, it paid about $1.05 per share. That works out to a trailing yield of 0.67%. The payout comes from the dividends of the companies it holds, so it can rise or fall over time. For investors who want steady income, this fund's main appeal is growth potential, not the payout.
What is IYJ's expense ratio?
IYJ's expense ratio is 0.37% a year, according to its prospectus filed August 21, 2026. In the SEC's standard example of $10,000 invested with a 5% annual return, costs total $38 after one year, $208 after five years and $468 after 10 years. The average for similar funds was 0.27%, and IYJ ranked 6th of 9 on cost. Vanguard, Fidelity and SPDR industrials funds charge 0.08% to 0.09%.
How has IYJ performed over 10 years?
IYJ returned an average of 12.47% a year over the 10 years ending December 31, 2025, according to its prospectus. Its own index returned 12.93% over the same period; the gap mostly reflects fees. The broad Russell 3000 Index returned 14.29%, so the fund trailed the overall U.S. market. Over five years, IYJ averaged 9.85% a year versus 13.15% for the Russell 3000. Its worst quarter was a 25.55% drop in early 2020.