At a glance
IZRL charges 0.49% a year, below the 0.64% average of the 3 funds most like it (the cheapest of 4). It has $136.9M in assets, the 3rd largest of that group; it paid 2.71% of its price in distributions over the past 12 months, annual. Over the past year it returned −0.2% with distributions reinvested (S&P 500: +11.5%), the weakest of those 4 funds; over three years it returned +25.0% a year. At its worst it fell 42.4% in the 2020 crash (S&P 500: 33.7%) and 42.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 36 months after the lows. Its ten largest positions make up 16.9% of the fund, out of 65 in all.
The short version
ARK Israel Innovative Technology ETF (IZRL) is an index fund that holds about 60 to 65 Israeli technology, health care and industrial companies from the ARK Israeli Innovation Index, and gives each one roughly the same weight. Its expense ratio is 0.49% a year, lower than the three similar Israel ETFs we compared, which average 0.64%. Equal weighting tilts it toward smaller companies, and it trailed larger Israel funds such as EIS over the year to October 27, 2026.
Price history
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IZRL -0.2% 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 | |
|---|---|---|---|---|---|---|
| IZRL official prospectus, to Dec 31, 2024 | — | +15.50% | — | +0.27% | — | +2.50% |
| IZRL price data to Oct 27, 2026 | -3.8% | -0.2% | +25.0% | -0.4% | — | +5.1% |
- Over the year to Oct 27, 2026, IZRL returned -0.2%, 4th of 4 among similar funds.
- Its 5-year annualized return was -0.4%.
- In the 2020 COVID crash it fell 42.4% and regained its old high 2.5 months after the low.
- Its worst full calendar year was 2022 (-38.6%); its best was 2025 (+37.0%).
- The deepest fall in its price history was 60% (Feb 16, 2021 to Oct 27, 2023), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -3.8% | — |
| 2025 | +37.0% | — |
| 2024 | +15.3% | +15.50% |
| 2023 | +11.4% | +11.20% |
| 2022 | -38.6% | -38.67% |
| 2021 | -3.5% | -2.82% |
| 2020 | +34.1% | +32.41% |
| 2019 | +21.8% | +21.93% |
| 2018 | -6.2% | -5.00% |
| 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 | Lost 37.3% over that stretch · deepest drop along the way 42.4%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 41.8% over that stretch · deepest drop along the way 42%, back to its old high 35.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.7800 | +680.0% |
| 2024 | $0.1000 | 0.0% |
| 2021 | $0.1000 | -79.2% |
| 2019 | $0.4800 | -15.8% |
| 2018 | $0.5700 |
What's inside
As of Jul 31, 2026, the fund held 65 securities; the ten largest made up 16.92% of assets.
| Holding | Weight | |
|---|---|---|
| TEVA PHARMACEUTICAL INDUSTRIES LTD | 1.76% | |
| PAGAYA TECHNOLOGIES LTD | 1.74% | |
| MONDAY.COM LTD | 1.74% | |
| ELBIT SYSTEMS LTD | 1.71% | |
| PCB TECHNOLOGIES LTD | 1.70% | |
| SOL-GEL TECHNOLOGIES LTD | 1.70% | |
| NAYAX LTD | 1.67% | |
| WIX.COM LTD | 1.65% | |
| BRAINSWAY LTD | 1.63% | |
| SIMILARWEB LTD | 1.61% | |
| AFCON HOLDINGS LTD | 1.61% | |
| SILICOM LTD | 1.61% | |
| RISKIFIED LTD | 1.60% | |
| COGNYTE SOFTWARE LTD | 1.60% | |
| BEZEQ THE ISRAEL TELECOMMUNICATION CORP LTD | 1.60% |
By country
Israel 93.66%United States 2.96%British Virgin Islands 1.5%By asset type
Stocks 98.12%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +9.07%, -6.80%, -3.27%.
How it works
IZRL tracks the ARK Israeli Innovation Index. ARK's own Index Products Group created the index, and Solactive AG calculates and publishes it. To qualify, a company must be listed on an exchange, be incorporated or based in Israel, and belong to one of six FactSet sectors: health technology, communications, technology services, electronic technology, consumer services or producer manufacturing. The index aims to capture firms whose main business involves "disruptive innovation," meaning new technology that upends an industry. As of November 14, 2025, it held 60 stocks with market values (the total worth of a company's shares) between about $177 million and $30 billion.
Every stock gets the same weight, and the weights are reset each quarter. So a smaller firm such as PCB Technologies counts about as much as Teva Pharmaceutical. As of July 31, 2026, the fund held 65 stocks. None was above 1.8% of assets, and the top 10 together were 16.9%. The fund normally keeps at least 80% of its assets in index stocks or their depositary receipts (certificates that trade in the US and represent foreign shares). It usually buys every stock in the index.
Many holdings trade in Tel Aviv, and that market is closed for parts of the US trading day. As a result, the ETF's price can drift above or below the value of what it owns. The fund is "non-diversified" under federal law, which lets it put more money into fewer companies. It also does not move to cash when markets fall.
What it really costs
- IZRL charges 0.49% a year, versus an average of 0.64% for the similar funds below (1st of 4, cheapest first).
- Of that, 0.48% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $616 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IZRL | $50 | $157 | $274 | $616 |
In a retirement portfolio
It is a single-country, equal-weighted technology fund that has fallen more than 40% twice since 2020, so it fits best as a small slice beside broader holdings.
IZRL could add Israeli technology, health care and industrial companies that broad US funds hold little of, but the ride has been rough. It launched in December 2017, so it has no record from 2008. In the 2020 COVID crash it fell 42.4% and recovered in about 2.5 months. In the 2022 bear market it fell 42% and took until September 29, 2025 to recover. 2022 was its worst calendar year, a 38.7% loss. Its deepest drop, 60% from February 2021 to October 2023, had not been fully made up as of October 27, 2026. Selling shares in a year like 2022 would lock in steep losses. The fund pays income once a year, with a 2.71% trailing yield as of October 27, 2026, and it costs 0.49% a year. 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 a small, deliberate stake in Israeli companies such as Monday.com, Wix.com, Teva Pharmaceutical and Elbit Systems.
- Cost-conscious buyers of single-country funds: its 0.49% expense ratio is below ITEQ (0.75%), ISRA (0.59%) and EIS (0.59%).
- People who like equal weighting, where no single stock was more than about 1.8% of assets as of July 31, 2026.
Look elsewhere if
- Retirees who may need to sell in downturns: it fell 42% in 2022 and didn't recover until September 2025.
- Investors who want Israel exposure that has kept pace with EIS, which returned 24.5% versus IZRL's -0.2% over the year to October 27, 2026.
- Anyone who needs regular income: it pays only once a year, and its 2.71% trailing yield (as of October 27, 2026) can change.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is IZRL good for retirement?
IZRL works better as a small, higher-risk add-on than as a core retirement holding. It owns only Israeli companies, mostly technology, health care and industrial firms. It fell 42% in the 2022 bear market and took until September 29, 2025 to recover. Its worst calendar year was 2022, a 38.7% loss. Its 1-year volatility (a measure of how much its price swings) was 22.1% as of October 27, 2026. Some investors hold a fund like this as a modest slice of a diversified portfolio.
What's the difference between IZRL and ITEQ?
Both are Israel technology ETFs, but only about 36% of their holdings overlap. IZRL costs 0.49% a year, while the Amplify BlueStar Israel Technology ETF (ITEQ) costs 0.75%, and IZRL gives every stock an equal weight. Their returns have differed. As of October 27, 2026, ITEQ returned 5.9% over one year and IZRL returned -0.2%. Over three years, IZRL's average annual return of 25% beat ITEQ's 20.7%. The two funds are similar in size.
Does IZRL pay dividends?
Yes, but only once a year. IZRL paid $0.78 per share over the 12 months to October 27, 2026, which works out to a trailing yield of 2.71%. Payouts from a fund like this can change a lot from year to year, so the trailing figure may not repeat. Most of the fund's holdings are Israeli companies, so changes in exchange rates against the US dollar can also affect the value of the dividends.
What are IZRL's top holdings?
As of July 31, 2026, the largest holdings were Teva Pharmaceutical, Pagaya Technologies, Monday.com, Elbit Systems, PCB Technologies, Sol-Gel Technologies, Nayax, Wix.com, BrainsWay and Similarweb. Each was only about 1.6% to 1.8% of assets, because the index weights all its stocks equally. Together the top 10 made up 16.9% of assets, out of 65 holdings in total. About 94% of assets were in companies based in Israel.
What is IZRL's expense ratio?
IZRL's expense ratio is 0.49% a year, according to its November 2025 prospectus. That includes a 0.48% management fee. In the SEC's standard example, $10,000 invested at a 5% yearly return would cost about $50 after one year, $274 after five years and $616 after ten. That is below the 0.64% average of the three similar Israel ETFs we compared it with: ITEQ, ISRA and EIS.