iShares ESG MSCI USA Leaders ETF

iShares ESG MSCI USA Leaders ETF (SUSL), from BlackRock, tracks the MSCI USA Extended ESG Leaders Index. The index holds U.S. large and mid-sized companies that score highest within their sector on environmental, social and governance (ESG) measures. Its 0.10% expense ratio is below the 0.16% average of similar ESG funds. The fund leans heavily on technology: as of August 31, 2026, NVIDIA and Microsoft together made up about a quarter of its assets.

• Over the year to Oct 27, 2026, SUSL returned +14.8%, 3rd of 9 among similar funds.
• Its 5-year annualized return was +12.4%.
• In the 2020 COVID crash it fell 34.3% and regained its old high 5.1 months after the low.
• Its worst full calendar year was 2022 (-20.2%); its best was 2021 (+31.5%).
• The deepest fall in its price history was 34.3% (Feb 19, 2020 to Mar 23, 2020), recovered by Aug 24, 2020.

As of Aug 31, 2026, the fund held 263 securities; the ten largest made up 47.49% of assets.

By sector

• Over the three months to Aug 31, 2026, investors added a net $39.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.18%, -0.09%, +3.62%.

The index starts with the MSCI USA Index of U.S. large and mid-sized stocks. MSCI then removes companies involved in tobacco, alcohol, gambling, nuclear power and weapons, conventional and controversial weapons, and civilian firearms. It also removes thermal coal, oil sands and other unconventional oil and gas, arctic oil and gas, and palm oil. Companies tied to very severe controversies are dropped as well. MSCI rates the remaining companies on a scale from CCC (lowest) to AAA (highest). Only those rated BB or higher can be included.

Within each sector, MSCI ranks companies by ESG rating and size. It keeps adding the top-ranked names until the index covers about 50% of that sector's market value. This keeps the sector mix close to the broad market, and it means companies are judged against their own industry peers. Holdings are weighted by free float-adjusted market capitalization, which is the value of shares available to the public. The largest companies therefore carry the largest weights. The index is rebuilt once a year, at the end of May.

BlackRock uses representative sampling. The fund holds a selection of stocks that matches the index's overall profile rather than every stock, so its returns can drift slightly from the index. As of August 31, 2026, it held 263 companies. It is classified as non-diversified, which allows bigger positions in a few companies. Portfolio turnover was 4%, which is low.

• SUSL charges 0.1% a year, versus an average of 0.16% for the similar funds below (4th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $10 in the first year and $128 over 10 years (assuming a 5% annual return).

It offers low-cost exposure to 263 U.S. large and mid-sized stocks, though its heavy technology weighting makes it a growth-leaning version of the broad market.

SUSL could serve as the main U.S. stock position for an investor who wants ESG screens. It launched in May 2019, so it has no record from 2008. In the 2020 COVID crash, it fell 34.3% between February 19 and March 23, 2020. It was back at its old high by August 24, 2020, about five months later. In the 2022 bear market it dropped 26.7%, and recovery took 14 months, until December 13, 2023. Its worst calendar year was 2022, at -20.3%. A retiree selling shares in a year like that would lock in losses, so a separate cash or bond reserve can reduce the need to sell. Income is modest: the yield was 0.93% as of October 27, 2026, paid quarterly. In the SEC's standard example, a $10,000 investment costs $10 in the first year. 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.