At a glance
IYW charges 0.37% a year, above the 0.17% average of the 8 funds most like it (the 7th cheapest of 9). It has $23.58B in assets, the 5th largest of that group; it paid 0.11% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +13.9% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +30.4% a year. At its worst it fell 30.5% in the 2020 crash (S&P 500: 33.7%) and 37.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 13 months after the lows. Its ten largest positions make up 65.3% of the fund, out of 149 in all.
The short version
The iShares U.S. Technology ETF (IYW) is a BlackRock index fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, a one-fund way to own about 150 large and mid-sized U.S. tech companies, led by NVIDIA, Apple and Microsoft as of July 31, 2026. About 15% sits in communication services firms such as Alphabet and Meta Platforms. Its 0.37% yearly fee (expense ratio) is more than double the 0.17% average of similar funds.
Price history
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IYW +13.9% 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 | |
|---|---|---|---|---|---|---|
| IYW official prospectus, to Dec 31, 2025 | — | +25.44% | — | +18.96% | +23.02% | — |
| Russell3000Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| Russell1000Technology RIC index, same period | — | +25.91% | — | +19.40% | +23.52% | — |
| IYW price data to Nov 2, 2026 | +18.5% | +13.9% | +30.4% | +16.7% | +23.9% | +15.5% |
- Over the year to Nov 2, 2026, IYW returned +13.9%, 7th of 9 among similar funds.
- Its 5-year annualized return was +16.7% and its 10-year +23.9%.
- In the 2020 COVID crash it fell 30.5% and regained its old high 2.4 months after the low.
- Its worst full calendar year was 2008 (-43.4%); its best was 2023 (+65.5%).
- The deepest fall in its price history was 55% (Oct 31, 2007 to Nov 20, 2008), recovered by Jan 12, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +18.5% | — |
| 2025 | +25.4% | +25.44% |
| 2024 | +30.3% | +30.21% |
| 2023 | +65.5% | +65.50% |
| 2022 | -34.8% | -34.80% |
| 2021 | +35.4% | +35.19% |
| 2020 | +47.5% | +47.52% |
| 2019 | +46.6% | +46.92% |
| 2018 | -0.9% | -0.96% |
| 2017 | +36.6% | +36.58% |
| 2016 | +13.7% | +13.69% |
| 2015 | +3.7% | — |
| 2014 | +19.4% | — |
| 2013 | +26.3% | — |
| 2012 | +10.9% | — |
| 2011 | -0.6% | — |
| 2010 | +12.0% | — |
| 2009 | +63.1% | — |
| 2008 | -43.4% | — |
| 2007 | +14.8% | — |
| 2006 | +9.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 52.2% over that stretch · deepest drop along the way 55%, back to its old high 25.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.5% over that stretch · deepest drop along the way 30.5%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 37.5% over that stretch · deepest drop along the way 37.5%, back to its old high 13.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1900 | |
| 2025 | $0.2900 | -14.7% |
| 2024 | $0.3400 | -19.0% |
| 2023 | $0.4200 | +10.5% |
| 2022 | $0.3800 | +5.6% |
| 2021 | $0.3600 | -24.6% |
| 2020 | $0.4775 | +14.4% |
| 2019 | $0.4175 | +14.4% |
| 2018 | $0.3650 | +9.8% |
| 2017 | $0.3325 | -2.9% |
| 2016 | $0.3425 | +15.1% |
| 2015 | $0.2975 | +1.7% |
| 2014 | $0.2925 | +46.3% |
| 2013 | $0.1999 | +379.4% |
| 2012 | $0.0417 | +71.6% |
| 2011 | $0.0243 | +41.3% |
| 2010 | $0.0172 | +5.5% |
| 2009 | $0.0163 | +13.2% |
| 2008 | $0.0144 | +80.0% |
| 2007 | $0.0080 | -37.0% |
| 2006 | $0.0127 |
What's inside
As of Jul 31, 2026, the fund held 149 securities; the ten largest made up 65.26% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 13.65% | |
| APPLE INC. | 13.15% | |
| MICROSOFT CORPORATION | 10.68% | |
| ALPHABET INC. Class A | 6.18% | |
| ALPHABET INC. | 5.05% | |
| BROADCOM INC. | 4.62% | |
| META PLATFORMS, INC. | 3.79% | |
| ADVANCED MICRO DEVICES, INC. | 3.06% | |
| MICRON TECHNOLOGY, INC. | 2.97% | |
| APPLIED MATERIALS, INC. | 2.10% | |
| INTEL CORPORATION | 2.06% | |
| LAM RESEARCH CORPORATION | 1.91% | |
| PALANTIR TECHNOLOGIES INC. | 1.43% | |
| PALO ALTO NETWORKS, INC. | 1.40% | |
| TEXAS INSTRUMENTS INCORPORATED | 1.31% |
By country
United States 99.31%Cayman Islands 0.29%Singapore 0.22%Australia 0.06%Netherlands 0.03%By asset type
Stocks 99.95%By sector
Sectors of the companies held, for the 91.8% 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 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 added a net $198.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.94%, -0.15%, -5.67%.
How it works
IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, built by FTSE Russell, part of the London Stock Exchange Group. The index starts with the Russell 1000, roughly the 1,000 largest U.S. companies, and keeps only those in the technology sector. Bigger companies count for more, based on the market value of their publicly traded shares.
To limit concentration, the index applies two caps at each quarterly rebalance (the regular reset of weights): no single company can exceed 22.5%, and companies above 4.5% each can't total more than 45%. Between rebalances, price moves can push weights past those limits. As of July 31, 2026, NVIDIA (13.7%), Apple (13.2%) and Microsoft (10.7%) led, Alphabet's two share classes added 6.2% and 5.0%, and the top 10 holdings made up 65% of the fund.
BlackRock uses representative sampling: it holds securities chosen to behave like the index, not necessarily every index stock, and must keep at least 80% of assets in index components. It may use derivatives such as futures contracts (negligible as of July 31, 2026). It may also lend out securities worth up to one-third of total assets for extra income. Turnover, the share of the portfolio traded in a year, was 15%, per the prospectus. The fund never takes defensive positions in falling markets.
What it really costs
- IYW charges 0.37% a year, versus an average of 0.17% for the similar funds below (7th 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 |
|---|---|---|---|---|
| IYW | $38 | $119 | $208 | $468 |
In a retirement portfolio
It concentrates on one sector, with 65% of assets in its top 10 holdings as of July 31, 2026, and a beta of 1.76, meaning it moved about 1.76 times as much as the market over the year to October 29, 2026.
IYW could add growth to a portfolio built around broader funds, but its falls have been steep. Its deepest drop was 55%, from October 2007 to November 2008, and it took about 26 months from that low to regain its old peak, in January 2011. Its worst calendar year was 2008, at -43.4%. It fell 30.5% in the 2020 COVID crash, recovering by June 2020, and 37.5% in the 2022 bear market, not recovering until November 2023. Anyone forced to draw money from it during a slump like these would lock in losses.
It offers little income: a 0.1% yield over the 12 months to October 29, 2026, paid quarterly. Costs add up too: under the SEC's standard example, the 0.37% expense ratio comes to $468 over 10 years on $10,000. Past results don't predict future ones, 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 one fund holding about 150 U.S. tech companies, including Alphabet and Meta Platforms, as a small add-on to a broad core.
- Long-term holders who could ride out drops like its 55% fall from 2007 to 2008 or 37.5% slide in 2022 without needing the money.
- Investors seeking more tech exposure: IYW returned 23.02% a year over the 10 years to December 31, 2025, versus 14.29% for the Russell 3000 Index.
Look elsewhere if
- Cost-focused investors: IYW's 0.37% expense ratio compares with 0.09% for Vanguard Information Technology ETF (VGT) and 0.08% for Technology Select Sector SPDR Fund (XLK).
- Income seekers: IYW's yield was just 0.1% over the 12 months to October 29, 2026, paid in small quarterly dividends.
- Investors seeking broad diversification: as of July 31, 2026, the top 10 holdings were 65% of assets, with little outside technology and communication services.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IYW this fund | — | 0.37% | $23.58B | +13.9% | +30.4% |
| IGM iShares Expanded Tech Sector ETF | 78% | 0.41% | $10.71B | +21.3% | +38.6% |
| FTEC Fidelity MSCI Information Technology Index … | 78% | 0.084% | $19.85B | +15.4% | +30.0% |
| VGT Vanguard Information Technology ETF | 77% | 0.09% | $170.66B | +19.7% | +33.3% |
| XLK Technology Select Sector SPDR Fund | 75% | 0.08% | $123.91B | +20.1% | +4.0% |
| MGK Vanguard Mega Cap Growth ETF | 70% | 0.07% | $33.30B | +2.5% | +23.2% |
| VUG Vanguard Growth ETF | 69% | 0.04% | $379.29B | +3.8% | +25.1% |
| IXN iShares Global Tech ETF | 67% | 0.41% | $9.46B | +30.4% | +36.5% |
Questions investors ask
What are IYW's top holdings?
IYW's largest holdings were NVIDIA, Apple and Microsoft, at 13.7%, 13.2% and 10.7% of assets as of July 31, 2026. Alphabet followed through two share classes, at 6.2% and 5.0%, then Broadcom (4.6%), Meta Platforms (3.8%), Advanced Micro Devices (3.1%), Micron (3.0%) and Applied Materials (2.1%). The top 10 made up 65% of a portfolio of 149 holdings, and 99.3% of assets were in U.S. companies.
What's the difference between IYW and VGT?
Cost is the clearest difference. IYW charges 0.37% a year, while Vanguard Information Technology ETF (VGT) charges 0.09%. Their holdings overlap by 77%, based on their latest N-PORT reports (holdings reports filed with the SEC). VGT is far larger, with $170.7 billion in net assets as of August 31, 2026, against IYW's $23.6 billion as of July 31, 2026. Over the year to October 29, 2026, VGT's price return was 23.4% and IYW's 20.2%. Fidelity MSCI Information Technology Index ETF (FTEC), at 0.084%, overlaps IYW by 78%.
Does IYW pay dividends?
Yes, but very little. IYW pays dividends quarterly, and over the 12 months to October 29, 2026, it paid $0.25 per share, a yield of about 0.1%. Its return comes almost entirely from share-price changes, which can be large. In the 10 calendar years through 2025, its strongest quarter was a 32.14% gain, ending June 30, 2020, and its weakest a 22.28% loss, ending June 30, 2022.
Is IYW good for retirement?
IYW may fit as a small, higher-risk part of a retirement portfolio rather than its core. It has grown quickly: 23.02% a year over the 10 years to December 31, 2025, against 14.29% for the Russell 3000 Index. But it fell 55% from October 2007 to November 2008 and didn't regain that peak until January 2011, and it lost 34.80% in 2022. With a yield of about 0.1% as of October 29, 2026, it offers little income to draw on in bad years. Past results don't predict future returns.
What is IYW's expense ratio?
IYW's expense ratio, the yearly fee taken from fund assets, is 0.37%, according to its prospectus filed August 21, 2026. In the SEC's standard example ($10,000 invested, a 5% yearly return, cashing out at the end of each period), that adds up to $38 after one year, $208 after five and $468 after 10. It ranks 7th-cheapest of nine similar funds including itself; the other eight average 0.17%, and Technology Select Sector SPDR Fund (XLK) charges 0.08%.