At a glance
WSML charges 0.3% a year, above the 0.13% average of the 3 funds most like it (the most expensive of 4). It has $671.8M in assets, the 4th largest of that group; it paid 2.84% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +13.8% with distributions reinvested (S&P 500: +11.5%), the weakest of those 4 funds. Its ten largest positions make up 4.2% of the fund, out of 3,516 in all.
The short version
iShares MSCI World Small-Cap ETF (WSML) is a BlackRock index fund that tracks the MSCI World Small Cap Index. As of August 31, 2026, it held 3,516 smaller companies across developed markets, with 58% in the US and 13% in Japan. It reaches further than US-only small-cap funds. But its 0.30% annual fee is higher than similar funds such as Vanguard Small Cap ETF (0.05%), and it only launched in April 2025.
Price history
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WSML +13.8% 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 | |
|---|---|---|---|---|---|---|
| WSML price data to Oct 27, 2026 | +13.2% | +13.8% | — | — | — | +27.4% |
- Over the year to Oct 27, 2026, WSML returned +13.8%, 4th of 4 among similar funds.
- The deepest fall in its price history was 10.7% (Feb 26, 2026 to Mar 30, 2026), recovered by Apr 17, 2026.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +13.2% |
| 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 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2900 |
What's inside
As of Aug 31, 2026, the fund held 3,516 securities; the ten largest made up 4.18% of assets. It also reported 5.4% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| SANDISK CORPORATION | 2.07% | |
| MODERNA, INC. | 0.43% | |
| ATI INC | 0.26% | |
| NVENT ELECTRIC PUBLIC LIMITED COMPANY | 0.22% | |
| US FOODS HOLDING CORP. | 0.21% | |
| TENET HEALTHCARE CORPORATION | 0.21% | |
| CARPENTER TECHNOLOGY CORPORATION | 0.21% | |
| ROYAL GOLD, INC. | 0.20% | |
| ROKU, INC. | 0.19% | |
| WOODWARD, INC. | 0.18% | |
| GUARDANT HEALTH, INC. | 0.18% | |
| VIATRIS INC. | 0.17% | |
| OVINTIV INC. | 0.17% | |
| TD SYNNEX CORPORATION | 0.16% | |
| ITT INC. | 0.16% |
By country
United States 58.27%Japan 12.53%Canada 4.49%United Kingdom 4.09%Australia 3.47%By asset type
Stocks 97.9%Other 1.29%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.89%, -2.57%, +2.85%.
How it works
WSML follows the MSCI World Small Cap Index, which is built by MSCI Inc. In each developed country, MSCI ranks listed companies by their free float-adjusted market value, meaning the value of the shares available to public investors. Companies in the bottom 10% to 20% of each country make the index, and all of them are included. MSCI sets each company's weight, so country weights shift as markets move. As of August 31, 2025, the index covered 23 countries, including the US, Japan, Canada, the UK and Australia.
BlackRock Fund Advisors manages the fund using "representative sampling." Instead of buying every stock, it holds a sample chosen to match the index's size, sector, yield and risk traits. The fund generally keeps at least 80% of its assets in index stocks or close equivalents. Up to 20% can go into futures, swaps, cash and other holdings that help it track the index. As of August 31, 2026, it held 3,516 issuers. MSCI reviews and rebalances the index every quarter, in February, May, August and November. Portfolio turnover was 14%, which is low compared with actively managed funds.
The fund may lend out up to one-third of its assets to other institutions for a fee. This adds a small risk if a borrower fails to return the shares. Many holdings trade in foreign currencies, so a stronger US dollar can lower the fund's value.
What it really costs
- WSML charges 0.3% a year, versus an average of 0.13% for the similar funds below (4th of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $31 in the first year and $— over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WSML | $31 | $97 | $— | $— |
In a retirement portfolio
It adds thousands of smaller companies, many outside the US, to a portfolio usually built on large-company funds.
WSML could widen a portfolio built mainly on large US companies by adding small companies from 23 developed countries. Its record is short. It launched in April 2025, so it didn't exist during the 2008, 2020 or 2022 downturns, and it has no full calendar year of results. Its deepest drop was 10.7%, from February 26 to March 30, 2026, and it had recovered by April 17, 2026. In past crises, small-company stocks have often fallen harder than large ones. A retiree who has to sell in a bad year could face bigger losses than this short record shows. The fund paid $0.97 a share in the 12 months to October 27, 2026, a 2.84% yield, paid twice a year. Its 0.30% expense ratio works out to about $31 in costs on $10,000 in the first 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 one fund covering small companies in 23 developed countries, not just the US, with Japan at about 13% of assets.
- Long-term holders who want a broad index spread across 3,516 issuers; the top 10 made up just 4.18% as of August 31, 2026.
- Investors who value some stock income: the trailing yield was 2.84% as of October 27, 2026, paid twice a year.
Look elsewhere if
- Cost-focused investors: the 0.30% expense ratio is well above Vanguard Small Cap ETF's 0.05% and the 0.13% average of similar funds.
- Anyone who wants a long track record: the fund launched in April 2025 and hasn't been through a full bear market.
- Retirees who need monthly income, or who are uneasy with currency swings and the ups and downs of small-company stocks.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
What does WSML invest in?
WSML holds stocks of smaller companies in developed countries and tracks the MSCI World Small Cap Index. As of August 31, 2026, it owned 3,516 issuers: 58% in the US, 13% in Japan and about 4% each in Canada and the UK. The largest holding was Sandisk at 2.07%. Next came Moderna, ATI, nVent Electric and US Foods, each under 0.5%. The top 10 holdings made up just 4.18% of assets.
What is the expense ratio of WSML?
WSML's expense ratio is 0.30% a year, according to its prospectus filed December 19, 2025. The SEC's standard example assumes $10,000 invested and a 5% annual return. On that basis, costs come to about $31 after one year and $97 after three. That is the highest of the similar funds compared here. Vanguard Small Cap ETF charges 0.05%, Vanguard Small Cap Value ETF 0.07% and Dimensional U.S. Small Cap ETF 0.27%.
What's the difference between WSML and VB?
The main differences are geography and cost. WSML tracks small companies across developed markets. As of August 31, 2026, 58% was in US stocks, with the rest in places like Japan, Canada and the UK. Vanguard Small Cap ETF (VB) has about a 35% holdings overlap with WSML and charges 0.05% versus WSML's 0.30%. VB is also far larger. VB returned 16.1% over one year as of October 30, 2026. WSML returned 13.8% as of October 27, 2026.
Does WSML pay dividends?
Yes. WSML pays dividends twice a year. In the 12 months to October 27, 2026, it paid $0.97 a share, a trailing yield of 2.84%. The payouts come from dividends paid by the companies the fund owns. Amounts can vary from one payment to the next. Because many holdings pay in foreign currencies, exchange-rate moves can also change what investors receive.
How has WSML performed since launch?
WSML's price rose 27.4% from its April 2025 launch through October 27, 2026. That includes 13.8% over the year to that date and 13.2% in 2026 through October 27. The prospectus doesn't yet show official long-term returns. The fund's largest decline was 10.7%, from February 26 to March 30, 2026, and it was back at its previous high by April 17, 2026. One-year volatility was 15.8%. Its beta of 1.01 means it moved about in line with the overall stock market.