iShares Technology Opportunities Active ETF

iShares Technology Opportunities Active ETF (TEK) is a BlackRock fund whose managers pick about 50 U.S. and foreign technology stocks instead of tracking an index. As of July 31, 2026, it leaned heavily on chip companies such as NVIDIA, Broadcom, SK hynix and Samsung, and about 27% of assets sat outside the U.S. Its 0.75% expense ratio is well above the 0.47% average of similar funds.

• Over the year to Oct 27, 2026, TEK returned +16.7%, 6th of 9 among similar funds.
• Its worst full calendar year was 2025 (+18.6%); its best was 2025 (+18.6%).
• The deepest fall in its price history was 28.2% (Feb 14, 2025 to Apr 8, 2025), recovered by Jun 26, 2025.

As of Jul 31, 2026, the fund held 53 securities; the ten largest made up 56.16% of assets. It also reported 3.7% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

By sector

• Over the three months to Jul 31, 2026, investors added a net $1.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +16.91%, +2.81%, -14.60%.

TEK follows no index. BlackRock's managers (called BFA in the prospectus) choose the stocks. Under normal conditions, at least 80% of net assets go into stocks of U.S. and foreign technology companies of any size. The managers pick companies they think can grow quickly and keep growing as technology develops. BFA decides what counts as a technology company. The list can include software, semiconductors, hardware, telecom, interactive media and even consumer finance. The fund can invest in developed and emerging markets.

No formula sets how much each stock gets. The managers decide, and they can trade often. Portfolio turnover, the share of holdings replaced in a year, was 67%. The fund is "non-diversified," which means it can put more money into fewer companies. As of July 31, 2026, it held 53 stocks, and the top 10 made up about 56% of assets. It can also hold preferred stock, depositary receipts, convertible securities, privately placed Rule 144A securities and shares bought in IPOs.

The prospectus allows options, futures, currency swaps and currency forwards. The fund can use them in place of owning stocks directly, to reduce currency risk, or to boost returns, which adds leverage risk. The July 31, 2026 holdings report showed no derivative positions. TEK is a plain stock fund. It is not leveraged and does not sell options for income.

• TEK charges 0.75% a year, versus an average of 0.47% for the similar funds below (8th of 9, cheapest first).
• Of that, 0.77% is the management fee; the rest covers other fund expenses.
• The fee includes a 0.02% waiver from the adviser, which may end.
• Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $952 over 10 years (assuming a 5% annual return).

TEK is a concentrated, actively managed tech fund that has swung about twice as much as the broad market, so it fits better as a small add-on than as a foundation.

TEK launched in October 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its only full calendar year was 2025, when it returned 18.89%. Even in that year, its worst quarter lost 12.91%. Its deepest drop was 28.2%, from February 14 to April 8, 2025. It recovered by June 26, 2025, about 2.6 months later. Anyone who had to draw money out during that slide would have locked in losses. Its trailing yield was 1.27% as of October 27, 2026, paid once a year, so it is not an income source. On the SEC's standard $10,000 example, costs come to $77 after one year and $952 over 10 years. Past results don't predict the future, and a retirement plan should look at the whole portfolio, not one fund.

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