What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares U.S. Consumer Focused ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 13.78%.
For the same period, the S&P Total Market Index returned 15.73%.
What contributed to performance?
While U.S. consumer spending remained resilient during the reporting period, consumer patterns began to shift towards prioritizing essentials. The consumer discretionary sector was the largest contributor to the Fund’s return. Notably, a major e-commerce firm in the broadline retail segment saw significant gains due to its expansion into groceries and continued growth of its cloud computing business. Among specialty retail names, automotive retail companies benefited. An online used car platform was supported by an increased demand for used cars, while an auto parts and accessories specialist gained as consumers held onto older vehicles for longer. In the consumer staples sector, a focus on value and affordability helped two large discount retailers, as well as customer loyalty, lower pricing, investments in technology, and e-commerce strength.
What detracted from performance?
There were no meaningful detractors from the Fund’s performance during the reporting period.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: March 21, 2018 through July 31, 2025
Initial Investment of $10,000
Fund | S&P Total Market Index | |
|---|---|---|
Mar 18 | $ | $ |
Apr 18 | $ | $ |
May 18 | $ | $ |
Jun 18 | $ | $ |
Jul 18 | $ | $ |
Aug 18 | $ | $ |
Sep 18 | $ | $ |
Oct 18 | $ | $ |
Nov 18 | $ | $ |
Dec 18 | $ | $ |
Jan 19 | $ | $ |
Feb 19 | $ | $ |
Mar 19 | $ | $ |
Apr 19 | $ | $ |
May 19 | $ | $ |
Jun 19 | $ | $ |
Jul 19 | $ | $ |
Aug 19 | $ | $ |
Sep 19 | $ | $ |
Oct 19 | $ | $ |
Nov 19 | $ | $ |
Dec 19 | $ | $ |
Jan 20 | $ | $ |
Feb 20 | $ | $ |
Mar 20 | $ | $ |
Apr 20 | $ | $ |
May 20 | $ | $ |
Jun 20 | $ | $ |
Jul 20 | $ | $ |
Aug 20 | $ | $ |
Sep 20 | $ | $ |
Oct 20 | $ | $ |
Nov 20 | $ | $ |
Dec 20 | $ | $ |
Jan 21 | $ | $ |
Feb 21 | $ | $ |
Mar 21 | $ | $ |
Apr 21 | $ | $ |
May 21 | $ | $ |
Jun 21 | $ | $ |
Jul 21 | $ | $ |
Aug 21 | $ | $ |
Sep 21 | $ | $ |
Oct 21 | $ | $ |
Nov 21 | $ | $ |
Dec 21 | $ | $ |
Jan 22 | $ | $ |
Feb 22 | $ | $ |
Mar 22 | $ | $ |
Apr 22 | $ | $ |
May 22 | $ | $ |
Jun 22 | $ | $ |
Jul 22 | $ | $ |
Aug 22 | $ | $ |
Sep 22 | $ | $ |
Oct 22 | $ | $ |
Nov 22 | $ | $ |
Dec 22 | $ | $ |
Jan 23 | $ | $ |
Feb 23 | $ | $ |
Mar 23 | $ | $ |
Apr 23 | $ | $ |
May 23 | $ | $ |
Jun 23 | $ | $ |
Jul 23 | $ | $ |
Aug 23 | $ | $ |
Sep 23 | $ | $ |
Oct 23 | $ | $ |
Nov 23 | $ | $ |
Dec 23 | $ | $ |
Jan 24 | $ | $ |
Feb 24 | $ | $ |
Mar 24 | $ | $ |
Apr 24 | $ | $ |
May 24 | $ | $ |
Jun 24 | $ | $ |
Jul 24 | $ | $ |
Aug 24 | $ | $ |
Sep 24 | $ | $ |
Oct 24 | $ | $ |
Nov 24 | $ | $ |
Dec 24 | $ | $ |
Jan 25 | $ | $ |
Feb 25 | $ | $ |
Mar 25 | $ | $ |
Apr 25 | $ | $ |
May 25 | $ | $ |
Jun 25 | $ | $ |
Jul 25 | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Industry allocation
Ten largest holdings
Industry | Percent of TotaI InvestmentsFootnote Reference(a) |
|---|---|
Specialty Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Consumer Staples Distribution & Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Hotels, Restaurants & Leisure........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Broadline Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Textiles, Apparel & Luxury Goods........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Financial Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Commercial Services & Supplies........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Ground Transportation........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Software........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Entertainment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
OtherFootnote Reference(b)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Home Depot, Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Walmart, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Costco Wholesale Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
TJX Cos., Inc. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Lowe's Cos., Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
O'Reilly Automotive, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Ross Stores, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Chipotle Mexican Grill, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Starbucks Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Footnote(b) | Ten largest industries are presented. Additional industries are found in Other. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
IEDI-07/25-AR
What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)
Fund name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|---|---|
iShares U.S. Tech Independence Focused ETF | $ |
How did the Fund perform last year?
For the reporting period ended July 31, 2025, the Fund returned 31.85%.
For the same period, the S&P Total Market Index returned 15.73%.
What contributed to performance?
Companies across the information technology sector contributed to the Fund’s return during the reporting period. Semiconductor stocks gained amid unprecedented demand for artificial intelligence (“AI”) and generative AI, data center expansions, and continued innovation in chips and network solutions. An application software company specializing in data analysis and artificial intelligence experienced robust growth across its government and commercial sectors. Meanwhile, systems software firms benefited from strong demand in cloud-delivered businesses, including cybersecurity, and increasing adoption of AI technologies. In the consumer discretionary sector, a major e-commerce firm in the broadline retail segment saw significant gains due to its expansion into groceries and continued growth of its cloud computing business.
What detracted from performance?
There were no meaningful detractors from the Fund’s return during the reporting period.
The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not intended to be a forecast of future events and are no guarantee of future results.
Fund performance
Cumulative performance: March 21, 2018 through July 31, 2025
Initial Investment of $10,000
Fund | S&P Total Market Index | |
|---|---|---|
Mar 18 | $ | $ |
Apr 18 | $ | $ |
May 18 | $ | $ |
Jun 18 | $ | $ |
Jul 18 | $ | $ |
Aug 18 | $ | $ |
Sep 18 | $ | $ |
Oct 18 | $ | $ |
Nov 18 | $ | $ |
Dec 18 | $ | $ |
Jan 19 | $ | $ |
Feb 19 | $ | $ |
Mar 19 | $ | $ |
Apr 19 | $ | $ |
May 19 | $ | $ |
Jun 19 | $ | $ |
Jul 19 | $ | $ |
Aug 19 | $ | $ |
Sep 19 | $ | $ |
Oct 19 | $ | $ |
Nov 19 | $ | $ |
Dec 19 | $ | $ |
Jan 20 | $ | $ |
Feb 20 | $ | $ |
Mar 20 | $ | $ |
Apr 20 | $ | $ |
May 20 | $ | $ |
Jun 20 | $ | $ |
Jul 20 | $ | $ |
Aug 20 | $ | $ |
Sep 20 | $ | $ |
Oct 20 | $ | $ |
Nov 20 | $ | $ |
Dec 20 | $ | $ |
Jan 21 | $ | $ |
Feb 21 | $ | $ |
Mar 21 | $ | $ |
Apr 21 | $ | $ |
May 21 | $ | $ |
Jun 21 | $ | $ |
Jul 21 | $ | $ |
Aug 21 | $ | $ |
Sep 21 | $ | $ |
Oct 21 | $ | $ |
Nov 21 | $ | $ |
Dec 21 | $ | $ |
Jan 22 | $ | $ |
Feb 22 | $ | $ |
Mar 22 | $ | $ |
Apr 22 | $ | $ |
May 22 | $ | $ |
Jun 22 | $ | $ |
Jul 22 | $ | $ |
Aug 22 | $ | $ |
Sep 22 | $ | $ |
Oct 22 | $ | $ |
Nov 22 | $ | $ |
Dec 22 | $ | $ |
Jan 23 | $ | $ |
Feb 23 | $ | $ |
Mar 23 | $ | $ |
Apr 23 | $ | $ |
May 23 | $ | $ |
Jun 23 | $ | $ |
Jul 23 | $ | $ |
Aug 23 | $ | $ |
Sep 23 | $ | $ |
Oct 23 | $ | $ |
Nov 23 | $ | $ |
Dec 23 | $ | $ |
Jan 24 | $ | $ |
Feb 24 | $ | $ |
Mar 24 | $ | $ |
Apr 24 | $ | $ |
May 24 | $ | $ |
Jun 24 | $ | $ |
Jul 24 | $ | $ |
Aug 24 | $ | $ |
Sep 24 | $ | $ |
Oct 24 | $ | $ |
Nov 24 | $ | $ |
Dec 24 | $ | $ |
Jan 25 | $ | $ |
Feb 25 | $ | $ |
Mar 25 | $ | $ |
Apr 25 | $ | $ |
May 25 | $ | $ |
Jun 25 | $ | $ |
Jul 25 | $ | $ |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
Average Annual Total Returns | 1 Year | 5 Years | Since Fund
Inception |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
S&P Total Market Index........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The inception date of the Fund was
What did the Fund invest in?
(as of July 31, 2025)
Industry allocation
Ten largest holdings
Industry | Percent of TotaI InvestmentsFootnote Reference(a) |
|---|---|
Software........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Semiconductors & Semiconductor Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Broadline Retail........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
IT Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Interactive Media & Services........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Capital Markets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Communications Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Technology Hardware, Storage & Peripherals........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Electronic Equipment, Instruments & Components........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Aerospace & Defense........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
OtherFootnote Reference(b)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Broadcom, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Palantir Technologies, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
NVIDIA Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Amazon.com, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Microsoft Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Salesforce, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Oracle Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Meta Platforms, Inc., Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Apple, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Accenture plc, Class A........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
Footnote(b) | Ten largest industries are presented. Additional industries are found in Other. |
Additional information
If you wish to view additional information about the Fund, including but not limited to financial statements, the Fund’s prospectus, and proxy voting policies and procedures, please visit blackrock.com/fundreports. For proxy voting records, visit blackrock.com/proxyrecords.
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
The Fund is not sponsored, endorsed, issued, sold, or promoted by S&P Dow Jones Indices LLC and its affiliates, nor does this company make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the company listed above.
©2025 BlackRock, Inc. or its affiliates. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.
IETC-07/25-AR