iShares S&P 100 ETF

The iShares S&P 100 ETF (OEF) tracks the S&P 100. That index holds 100 large, established S&P 500 companies, worth about 64% of U.S. stock market value as of March 31, 2026. It gives concentrated exposure to the biggest names: its 10 largest holdings, led by NVIDIA and Apple, were about 51% of assets as of June 30, 2026. It also costs more: its 0.20% annual fee is well above the 0.03% charged by S&P 500 funds IVV and VOO.

• Over the year to Nov 2, 2026, OEF returned +8.3%, 8th of 9 among similar funds.
• Its 5-year annualized return was +13.0%.
• Its worst full calendar year was 2022 (-21.0%); its best was 2023 (+32.7%).
• The deepest fall in its price history was 26.5% (Jan 3, 2022 to Oct 12, 2022), recovered by Dec 7, 2023.

As of Jun 30, 2026, the fund held 102 securities; the ten largest made up 50.72% of assets.

By sector

• Over the three months to Jun 30, 2026, investors withdrew a net $459.4M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +11.55%, +6.30%, -2.73%.

OEF tracks the S&P 100, an index run by S&P Dow Jones Indices. The index is a subset of the S&P 500. It holds blue-chip (large, well-established) companies from many industries that have exchange-listed options (contracts to buy or sell shares at a set price). The index provider, not BlackRock, picks the companies and sets their weights, and the lineup changes over time. As of June 30, 2026, NVIDIA (10.5%), Apple (9.2%) and Microsoft (6.0%) were the largest positions.

BlackRock uses “representative sampling.” This means it may hold a sample of index stocks with similar overall traits, such as size, industry mix and yield, rather than every one. Its stated policy, though, is to invest substantially all assets in index stocks in about the same proportions as the index. It may also hold cash and derivatives (contracts tied to other assets' prices), such as stock index futures.

The fund doesn't try to beat the index or turn defensive when markets fall. It trades very little: its portfolio turnover rate, the share of holdings replaced in a year, was 5%. It may lend out securities worth up to one-third of its total assets. If index weights shift enough, the fund may become “non-diversified” under federal fund rules, which would put more of its money in a handful of companies. That change would not need a shareholder vote.

• OEF charges 0.2% 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 $20 in the first year and $255 over 10 years (assuming a 5% annual return).

It holds about 100 of the largest U.S. companies in one low-turnover index fund, though it is more concentrated and costlier than broad S&P 500 funds such as IVV and VOO.

OEF could anchor a portfolio's stock holdings, but it falls with the market. In 2022 it dropped 26.5% from January 3 to October 12, its deepest decline since June 2020. It then took about 14 months from that low, until December 7, 2023, to recover. Its worst calendar year from 2016 through 2025 was 2022, down 21%. It lost 17.4% in the first quarter of 2020, during the COVID crash. Its 2008 results aren't covered here. Anyone forced to sell shares in a slump like 2022 would sell at low prices, which is why many retirees hold cash or bonds for near-term needs.

Income is modest: the fund's 12-month yield was 0.85% as of October 29, 2026, paid quarterly. Its 0.20% annual fee is above the 0.03% charged by IVV and VOO. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.