At a glance
IYY charges 0.2% a year, above the 0.04% average of the 8 funds most like it (the most expensive of 9). It has $2.95B in assets, the 7th largest of that group; it paid 0.86% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +13.0% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +24.5% a year. At its worst it fell 34.9% 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 35.0% of the fund, out of 966 in all.
The short version
The iShares Dow Jones U.S. ETF (IYY) is a BlackRock index fund. It tracks the Dow Jones U.S. Index, which aims to cover the top 95% of U.S.-traded stocks by market value. As of July 31, 2026, it held 966 stocks, led by NVIDIA, Apple and Microsoft. Its main drawback is cost. The expense ratio is 0.20%, while eight similar broad U.S. stock funds average 0.04%.
Price history
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IYY +13.0% 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 | |
|---|---|---|---|---|---|---|
| IYY official prospectus, to Dec 31, 2025 | — | +17.13% | — | +13.30% | +14.23% | — |
| S And P Total Market Index index, same period | — | +17.05% | — | +13.07% | +14.22% | — |
| Dow Jones US Index index, same period | — | +17.36% | — | +13.51% | +14.45% | — |
| IYY price data to Oct 27, 2026 | +13.5% | +13.0% | +24.5% | +11.7% | +15.0% | +10.5% |
- Over the year to Oct 27, 2026, IYY returned +13.0%, 4th of 9 among similar funds.
- Its 5-year annualized return was +11.7% and its 10-year +15.0%.
- In the 2020 COVID crash it fell 34.9% and regained its old high 4.7 months after the low.
- Its worst full calendar year was 2008 (-37.7%); its best was 2013 (+32.1%).
- The deepest fall in its price history was 55.7% (Oct 9, 2007 to Mar 9, 2009), recovered by Sep 13, 2012.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.5% | — |
| 2025 | +17.1% | +17.13% |
| 2024 | +24.2% | +24.20% |
| 2023 | +26.5% | +26.34% |
| 2022 | -19.6% | -19.54% |
| 2021 | +26.4% | +26.26% |
| 2020 | +20.1% | +20.16% |
| 2019 | +30.8% | +30.87% |
| 2018 | -5.1% | -5.11% |
| 2017 | +21.3% | +21.24% |
| 2016 | +12.0% | +12.04% |
| 2015 | +0.4% | — |
| 2014 | +12.9% | — |
| 2013 | +32.1% | — |
| 2012 | +14.9% | — |
| 2011 | +0.2% | — |
| 2010 | +15.5% | — |
| 2009 | +26.9% | — |
| 2008 | -37.7% | — |
| 2007 | +5.0% | — |
| 2006 | +14.4% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 55.7% over that stretch · deepest drop along the way 55.7%, back to its old high 42.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 34.9% over that stretch · deepest drop along the way 34.9%, 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 14.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.1300 | |
| 2025 | $1.5800 | +4.6% |
| 2024 | $1.5100 | +1.3% |
| 2023 | $1.4900 | +7.2% |
| 2022 | $1.3900 | +13.9% |
| 2021 | $1.2200 | -1.2% |
| 2020 | $1.2350 | -13.9% |
| 2019 | $1.4350 | +16.7% |
| 2018 | $1.2300 | +14.4% |
| 2017 | $1.0750 | +5.9% |
| 2016 | $1.0150 | +1.0% |
| 2015 | $1.0050 | +16.9% |
| 2014 | $0.8600 | +46.5% |
| 2013 | $0.5870 | +64.5% |
| 2012 | $0.3568 | +23.5% |
| 2011 | $0.2888 | +12.8% |
| 2010 | $0.2560 | +4.3% |
| 2009 | $0.2455 | -15.5% |
| 2008 | $0.2905 | +3.3% |
| 2007 | $0.2813 | +11.8% |
| 2006 | $0.2517 |
What's inside
As of Jul 31, 2026, the fund held 966 securities; the ten largest made up 35.02% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA CORPORATION | 7.03% | |
| APPLE INC. | 6.56% | |
| MICROSOFT CORPORATION | 4.99% | |
| AMAZON.COM, INC. | 3.84% | |
| ALPHABET INC. Class A | 3.02% | |
| BROADCOM INC. | 2.66% | |
| ALPHABET INC. | 2.44% | |
| META PLATFORMS, INC. | 1.77% | |
| JPMORGAN CHASE & CO. | 1.36% | |
| BERKSHIRE HATHAWAY INC. | 1.36% | |
| MICRON TECHNOLOGY, INC. | 1.34% | |
| ELI LILLY AND COMPANY | 1.31% | |
| TESLA, INC. | 1.27% | |
| ADVANCED MICRO DEVICES, INC. | 1.12% | |
| EXXONMOBIL HOLDINGS CORPORATION | 0.93% |
By country
United States 96.49%Ireland 1.95%Switzerland 0.31%Bermuda 0.27%United Kingdom 0.15%By asset type
Stocks 99.82%By sector
Sectors of the companies held, for the 84.8% 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 withdrew a net $17.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.20%, -0.69%, -0.27%.
How it works
IYY follows the Dow Jones U.S. Index. The index comes from S&P Dow Jones Indices, a company independent of BlackRock. It includes all the U.S. companies in the Dow Jones Global Index and aims to represent the top 95% of U.S.-traded stocks by float-adjusted market capitalization. That means each company is weighted by the value of its shares available to public investors, so the largest firms count the most. Stocks must also meet minimum trading-volume rules. The index provider decides what goes in and how much each stock weighs, and the lineup changes over time.
BlackRock Fund Advisors uses "representative sampling." It doesn't have to own every stock in the index. Instead, it holds a mix chosen to match the index's size, industry mix, yield and risk. Under normal conditions, at least 80% of assets must be in index stocks. Turnover was 3%, so the fund trades very little. The fund may also use futures, hold cash and lend out securities worth up to one-third of its total assets.
Because weights follow market value, a few giants carry a lot of weight. As of July 31, 2026, the top 10 holdings made up 35% of assets: NVIDIA was 7.0%, Apple 6.6% and Microsoft 5.0%. The prospectus warns the fund could become "non-diversified" if a few stocks grow large enough. Its results would then depend more on those companies.
What it really costs
- IYY charges 0.2% a year, versus an average of 0.04% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IYY | $20 | $64 | $113 | $255 |
In a retirement portfolio
It gives broad, low-turnover exposure to about 95% of the U.S. stock market's value, the kind of holding that can anchor a long-term portfolio.
IYY could serve as the U.S. stock core of a portfolio, but it carries full stock-market risk. In the 2008 financial crisis, it lost 55.7% between October 9, 2007, and March 9, 2009. It didn't regain that peak until September 13, 2012. It fell 34.9% in the 2020 COVID crash and was back by August 2020. In the 2022 bear market it fell 25.4% and recovered by December 2023. Its worst calendar year was 2008, at -37.7%. Someone drawing money during a stretch like that may have to cash out shares at low prices. Many retirees hold bonds or cash for this reason. The yield was 0.86% over the 12 months to October 27, 2026, paid quarterly, so this is not an income fund. Under the SEC's standard example, it costs $255 over 10 years on $10,000, which is more than similar funds charge. Past results don't predict future returns, 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 covering about 95% of U.S. stock market value, from NVIDIA and Apple down to hundreds of smaller companies.
- Long-term holders who can ride out deep drops, such as the 55.7% fall in 2008–09 and the 25.4% decline in 2022.
- Existing IYY holders who would owe capital gains taxes by switching, which could outweigh the 0.20% fee gap with cheaper funds.
Look elsewhere if
- Cost-focused investors: similar funds such as SCHX (0.03%) and BBUS (0.02%) charge a fraction of IYY's 0.20% expense ratio.
- Retirees wanting steady income: the trailing 12-month yield was only 0.86% as of October 27, 2026, paid quarterly.
- Those wanting less exposure to big tech: technology made up 32.5% of assets and the top 10 holdings 35% as of July 31, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IYY this fund | — | 0.2% | $2.95B | +13.0% | +24.5% |
| SCHX Schwab U.S. Large-Cap ETF | 93% | 0.03% | $74.17B | +10.9% | +21.9% |
| BKLC BNY Mellon US Large Cap Core Equity ETF | 93% | 0% | $5.47B | +13.4% | +25.4% |
| BBUS JPMorgan BetaBuilders U.S. Equity ETF | 93% | 0.02% | $8.89B | +13.0% | +24.8% |
| PBUS Invesco MSCI USA ETF | 93% | 0.04% | $11.67B | +13.1% | +24.9% |
| SCHK Schwab 1000 Index ETF | 93% | 0.05% | $5.86B | +13.2% | +24.8% |
| VONE Vanguard Russell 1000 ETF | 92% | 0.07% | $11.91B | +13.0% | +24.6% |
| GUSA Goldman Sachs MarketBeta U.S. 1000 Equity E… | 92% | 0.11% | $2.40B | +13.0% | +24.7% |
Questions investors ask
What index does IYY track?
IYY tracks the Dow Jones U.S. Index from S&P Dow Jones Indices. That index aims to cover the top 95% of U.S.-traded stocks by float-adjusted market value. So IYY is a broad U.S. stock fund. It is not a fund of the 30-stock Dow Jones Industrial Average. As of July 31, 2026, it held 966 stocks, led by NVIDIA (7.0%), Apple (6.6%) and Microsoft (5.0%).
What is the IYY expense ratio?
IYY's expense ratio is 0.20% 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 would total about $20 after one year, $113 after five years and $255 after ten. That ranks IYY 9th of 9 on cost against similar broad U.S. stock funds, which average 0.04%.
IYY vs SCHX: what's the difference?
Both are broad U.S. stock index funds, and their holdings overlapped by 93% in the latest N-PORT reports. The main difference is cost: SCHX charges 0.03%, while IYY charges 0.20%. SCHX is also much larger, with about $74.2 billion in net assets as of August 31, 2026. IYY had $2.95 billion as of July 31, 2026. Returns have been close. Over three years, IYY returned 24.5% a year through October 27, 2026, and SCHX returned 24.8% a year through October 29.
Does IYY pay dividends?
Yes, IYY pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.61 per share, a yield of 0.86%. The yield is low partly because the fund leans heavily on large technology companies. Those companies tend to pay small dividends compared with their share prices. Most of the fund's long-term return has come from rising share prices rather than income.
Is IYY good for retirement?
IYY can serve as the U.S. stock core of a retirement portfolio, but it carries full stock-market risk. Its 10-year average annual return was 14.23% as of December 31, 2025. It still lost 19.54% in 2022 and fell 55.7% during the 2008 financial crisis, and it took until September 2012 to recover from that drop. Its 0.20% fee is higher than similar funds charge. Past results don't predict future returns.