IAI — iShares U.S. Broker-Dealers & Securities Exchanges ETF

IAI Price Performance — Growth of $10,000

Value of a $10,000 investment in IAI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

IAI Drawdown

The "underwater" chart: IAI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is a Financial category fund issued by iShares with $1.33 billion in assets under management. Currently trading at $188.85, the fund holds an overall rank of #378 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 50.1 out of 100. Investors in this fund face an expense ratio of 0.38% while receiving a dividend yield of 1.17%. The fund's position within the Financial category, which contains 9 ETFs tracked by ETFValuer, places it in the lower half of the broader market spectrum. The asset size of $1.33 billion suggests a moderate level of investor adoption relative to the total universe of tracked funds. Its price point of $188.85 reflects the cumulative performance of the underlying broker-dealer and securities exchange holdings. This combination of rank, grade, and cost structure defines the fund's current standing among its peers.

Over the short term, the fund posted a 1-day return of +0.11% and a 1-week gain of +0.13%, indicating modest immediate momentum. The 1-month return accelerated significantly to +7.41%, followed by a 3-month return of +6.58%, showing a period of strong recent performance. However, the 6-month return of +2.36% suggests a deceleration in gains over the intermediate horizon compared to the prior quarter. Year-to-date performance stands at +4.58%, while the 1-year return reached +8.68%. The long-term trajectory is highlighted by a 3-year return of +102.39%, which represents a substantial divergence from the shorter-term annualized figures. This pattern indicates that while recent monthly and quarterly gains have been positive, the fund's long-term compounding has been the primary driver of total returns.

The fund carries a Moderate volatility label and a beta of 1.18, implying that its price movements tend to be slightly more sensitive to market fluctuations than the broader benchmark. A Sharpe ratio of 0.18 suggests that the risk-adjusted returns generated by the fund have been relatively low relative to the volatility experienced. The maximum drawdown of -23.14% indicates the fund has experienced significant declines during adverse market conditions. This combination of a beta above 1.0 and a substantial maximum drawdown points to a profile where the fund amplifies market moves in both directions. The low Sharpe ratio further implies that the returns achieved during up markets have not sufficiently compensated for the magnitude of the downside risk. Consequently, the fund exhibits behavior characterized by heightened sensitivity to market shifts and notable periods of capital erosion.

AI-generated summary based on the data on this page.

IAI Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 73.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how IAI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With IAI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with IAI's top 10 — IYF overlaps most, holding 4 of the same companies as IAI's top 10 (48.4% of IAI's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

IAI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 105K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.33B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: IAI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

IAI Performance History

How IAI Compares to Other Financial ETFs