At a glance
WOOD charges 0.39% a year, below the 0.41% average of the 2 funds most like it (the 2nd cheapest of 3). It has $246.8M in assets, the 2nd largest of that group; it paid 2.57% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −7.0% with distributions reinvested (S&P 500: +11.5%), the weakest of those 3 funds; over three years it returned −0.2% a year. At its worst it fell 38.7% in the 2020 crash (S&P 500: 33.7%) and 30.7% in the 2022 bear market (S&P 500: 24.5%). Its ten largest positions make up 59.8% of the fund, out of 37 in all.
The short version
iShares Global Timber & Forestry ETF (WOOD) is a BlackRock index fund that tracks the S&P Global Timber & Forestry Index. The index holds timber REITs (real estate investment trusts that own forests), forest products makers, and paper and packaging companies worldwide. WOOD charges 0.39% a year. That is about half the 0.74% charged by its closest rival, Invesco MSCI Global Timber ETF (CUT). It is a narrow, volatile sector bet.
Price history
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WOOD -7.0% 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 | |
|---|---|---|---|---|---|---|
| WOOD official prospectus, to Dec 31, 2025 | — | -3.66% | — | -0.12% | +6.04% | — |
| S&P Global Broad Market Index Net index, same period | — | +21.96% | — | +10.50% | +11.28% | — |
| WOOD price data to Oct 27, 2026 | -7.7% | -7.0% | -0.2% | -3.0% | +4.6% | +3.6% |
- Over the year to Oct 27, 2026, WOOD returned -7.0%, 3rd of 3 among similar funds.
- Its 5-year annualized return was -3.0% and its 10-year +4.6%.
- In the 2020 COVID crash it fell 38.7% and regained its old high 4.8 months after the low.
- Its worst full calendar year was 2022 (-19.4%); its best was 2009 (+36.7%).
- The deepest fall in its price history was 62.6% (Sep 19, 2008 to Mar 9, 2009), recovered by Jan 11, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -7.7% | — |
| 2025 | -3.3% | -3.66% |
| 2024 | -4.2% | -3.96% |
| 2023 | +13.8% | +13.83% |
| 2022 | -19.4% | -19.14% |
| 2021 | +17.0% | +16.73% |
| 2020 | +20.3% | +20.52% |
| 2019 | +19.8% | +19.58% |
| 2018 | -17.7% | -17.57% |
| 2017 | +34.5% | +34.28% |
| 2016 | +14.3% | +13.34% |
| 2015 | -8.0% | — |
| 2014 | +1.9% | — |
| 2013 | +18.9% | — |
| 2012 | +23.6% | — |
| 2011 | -15.4% | — |
| 2010 | +16.2% | — |
| 2009 | +36.7% | — |
| 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 38.1% over that stretch · deepest drop along the way 38.7%, back to its old high 4.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 25.1% over that stretch · deepest drop along the way 30.7%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.6300 | |
| 2025 | $1.8100 | +13.1% |
| 2024 | $1.6000 | +19.4% |
| 2023 | $1.3400 | -18.3% |
| 2022 | $1.6400 | +43.9% |
| 2021 | $1.1400 | +46.2% |
| 2020 | $0.7800 | -37.1% |
| 2019 | $1.2400 | -23.0% |
| 2018 | $1.6100 | +89.6% |
| 2017 | $0.8490 | -4.1% |
| 2016 | $0.8850 | -9.0% |
| 2015 | $0.9730 | +7.4% |
| 2014 | $0.9060 | +10.8% |
| 2013 | $0.8180 | +40.5% |
| 2012 | $0.5820 | -35.3% |
| 2011 | $0.8990 | -19.2% |
| 2010 | $1.1130 | +160.7% |
| 2009 | $0.4270 |
What's inside
As of Jun 30, 2026, the fund held 37 securities; the ten largest made up 59.78% of assets.
| Holding | Weight | |
|---|---|---|
| WEYERHAEUSER COMPANY | 8.56% | |
| SMURFIT WESTROCK PUBLIC LIMITED COMPANY | 7.70% | |
| West Fraser Timber Co. Ltd. | 6.97% | |
| INTERNATIONAL PAPER COMPANY | 6.81% | |
| SUZANO S.A. | 6.51% | |
| KLABIN S.A. Other | 5.59% | |
| SYLVAMO CORPORATION | 4.62% | |
| RAYONIER INC. | 4.40% | |
| Stora Enso Oyj | 4.37% | |
| Nine Dragons Paper (Holdings) Limited | 4.26% | |
| SCG PACKAGING PUBLIC COMPANY LIMITED Other | 4.14% | |
| UPM-Kymmene Oyj | 4.13% | |
| Oji Holdings Corporation | 4.05% | |
| Svenska Cellulosa Aktiebolaget SCA | 4.04% | |
| MONDI PLC | 3.85% |
By country
United States 24.39%Brazil 12.85%Japan 9.66%Sweden 9.27%Finland 8.51%By asset type
Stocks 89.62%Other 9.88%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $182K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.29%, -1.48%, -1.04%.
How it works
WOOD tracks the S&P Global Timber & Forestry Index, which picks stocks from the S&P Global BMI, a broad index of developed and emerging markets. A company must be worth at least $300 million in total and have at least $100 million in float-adjusted value. Float-adjusted value counts only shares the public can freely trade. It must also trade at least $3 million a day. Companies that earn more than 75% of their revenue from timber and forestry get in automatically, and so do all timber REITs. If that gives fewer than 100 names, the index adds companies by their "Exposure Score" (the share of revenue tied to timber). It goes down to a score of 0.5. Screens remove companies tied to controversial weapons, tobacco or thermal coal, or that break the UN Global Compact.
Each stock's weight is its Exposure Score times its float-adjusted value, within certain limits. The index rebuilds its list in March and September and reweights every quarter. BlackRock Fund Advisors uses representative sampling: it holds a sample that resembles the index, not every stock. As of June 30, 2026, the fund had 40 positions in 37 issuers. The prospectus lists portfolio turnover of 65%.
The fund is concentrated. Its top 10 holdings were about 60% of assets, led by Weyerhaeuser (8.6%) and Smurfit Westrock (7.7%). Because the fund is priced in dollars, weaker foreign currencies can cut its returns.
What it really costs
- WOOD charges 0.39% a year, versus an average of 0.41% for the similar funds below (2nd of 3, cheapest first).
- Of that, 0.38% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $493 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WOOD | $40 | $125 | $219 | $493 |
In a retirement portfolio
WOOD is a concentrated, volatile bet on one global industry, so it fits better as a small side position than as a core holding.
WOOD gives focused exposure to timberland owners and paper and packaging makers in the U.S., Brazil, Japan and Scandinavia. Its swings have been large. It fell 62.6% from September 2008 to March 2009 and took about 22 months to recover. In the 2020 COVID crash it dropped 38.7%, then recovered in about five months. From January to September 2022 it fell 30.7%, and it had not regained that peak as of October 27, 2026. Its worst calendar year was 2022, at about −19%. Selling shares in years like those would lock in steep losses. The trailing yield (income from the past 12 months divided by price) was 2.57% as of October 27, 2026, paid twice a year. Costs are 0.39% a year. In the SEC's standard example, that is $493 over 10 years on $10,000. Past results don't predict future returns. 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, targeted stake in timber and packaging companies such as Weyerhaeuser, Smurfit Westrock, West Fraser and International Paper.
- Cost-conscious buyers of this niche: WOOD's 0.39% expense ratio is about half the 0.74% charged by Invesco MSCI Global Timber ETF.
- Investors comfortable with foreign markets and currencies: about three-quarters of assets were outside the U.S. as of June 30, 2026.
Look elsewhere if
- Investors seeking a core holding: WOOD's 10-year return of 6.04% a year trailed the S&P Global BMI's 11.28% as of December 31, 2025.
- Retirees who may need to sell in downturns: WOOD fell 62.6% in 2008–2009 and was still below its January 2022 peak in October 2026.
- Income seekers who want monthly checks: WOOD pays twice a year, and its trailing yield was 2.57% as of October 27, 2026.
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
What does WOOD ETF invest in?
WOOD invests in timber and forestry companies worldwide by tracking the S&P Global Timber & Forestry Index. As of June 30, 2026, it held 40 positions in 37 issuers. The largest were Weyerhaeuser (8.6%), Smurfit Westrock (7.7%), West Fraser Timber (7.0%), International Paper (6.8%) and Suzano (6.5%). The top 10 made up about 60% of assets. U.S. companies were 24.4% of the fund, followed by Brazil (12.9%), Japan (9.7%), Sweden (9.3%) and Finland (8.5%).
What's the difference between WOOD and CUT?
Both are global timber index funds, but WOOD is cheaper and larger. WOOD charges 0.39% a year. Invesco MSCI Global Timber ETF (CUT) charges 0.74%. In their latest N-PORT reports, the two funds shared about 59% of their holdings. WOOD had $246.8 million in net assets as of June 30, 2026. CUT had $32.7 million as of July 31, 2026. As of October 27, 2026, CUT had returned more over one year (−1.4% vs. −7%) and three years (2.2% vs. −0.2% a year).
Does WOOD pay dividends?
Yes. WOOD pays dividends twice a year. In the 12 months through October 27, 2026, it paid $1.69 per share, a trailing yield of 2.57%. The money comes from dividends paid by the companies it owns, including timber REITs. REITs are companies that own real estate, here forests, and usually pass most of their income to shareholders. Payments can change from one period to the next, so WOOD is not built for steady monthly income.
What is WOOD's expense ratio?
WOOD's expense ratio is 0.39% a year, according to its prospectus filed July 27, 2026. That includes a 0.38% management fee. The SEC's standard example assumes $10,000 invested with a 5% annual return. On that basis, costs would be about $40 after one year, $125 after three, $219 after five and $493 after 10. WOOD's fee is close to the 0.41% average of its comparison group. It is about half the 0.74% charged by Invesco MSCI Global Timber ETF.
How has WOOD performed compared with the stock market?
WOOD has trailed broad global stocks. As of December 31, 2025, it returned −3.66% over one year, −0.12% a year over five years and 6.04% a year over 10 years. The S&P Global Broad Market Index returned 21.96%, 10.5% and 11.28% over the same periods. WOOD's yearly results swing widely, from +34.28% in 2017 to −19.14% in 2022. Its worst quarter lost 28.22%, in early 2020. Its deepest drop was 62.6%, from 2008 to 2009.