What were the Fund costs for the period?
(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. Power Infrastructure ETF | $ |
| Footnote | Description |
Footnote(a) | |
Footnote(b) |
How did the Fund perform during the period?
For the year ended March 31, 2026, the Fund returned 13.10%.
For the same period, the S&P Total Market Index returned 18.14% and the S&P U.S. Power Infrastructure Select Index (Spliced) returned 13.19%.
What contributed to performance?
During the year, the energy sector was the leading contributor to the Fund’s return. Oil prices surged late in the reporting period amid renewed Middle East geopolitical tensions that heightened supply fears including potential disruptions to shipments through the Strait of Hormuz. Oil and gas refining and marketing and transportation firms were supported by global fuel prices and refining margins. In the coal and consumable fuels subsector, a uranium producer gained as rising power demand and renewed interest in nuclear energy supported uranium market fundamentals. The industrials sector benefited as rising electricity demand from data centers supported demand for gas turbines, grid equipment orders, liquid cooling systems, and utility infrastructure upgrades.
What detracted from performance?
During the year, a solar technology company detracted from the Fund’s return amid political and tariff uncertainty, and declining backlog and orders.
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: April 1, 2016 through March 31, 2026
Initial investment of $10,000
Fund | S&P Total Market Index | S&P U.S. Power Infrastructure Select Index (Spliced) | MSCI All Country World Index (Net) | |
|---|---|---|---|---|
Mar 16 | $10,000 | $ | $ | $10,000 |
Apr 16 | $10,902 | $ | $ | $10,148 |
May 16 | $10,603 | $ | $ | $10,161 |
Jun 16 | $11,034 | $ | $ | $10,099 |
Jul 16 | $10,795 | $ | $ | $10,534 |
Aug 16 | $10,911 | $ | $ | $10,570 |
Sep 16 | $11,185 | $ | $ | $10,634 |
Oct 16 | $11,046 | $ | $ | $10,454 |
Nov 16 | $11,634 | $ | $ | $10,533 |
Dec 16 | $12,113 | $ | $ | $10,761 |
Jan 17 | $11,705 | $ | $ | $11,055 |
Feb 17 | $11,475 | $ | $ | $11,365 |
Mar 17 | $11,516 | $ | $ | $11,504 |
Apr 17 | $11,303 | $ | $ | $11,683 |
May 17 | $11,179 | $ | $ | $11,941 |
Jun 17 | $10,978 | $ | $ | $11,995 |
Jul 17 | $11,428 | $ | $ | $12,331 |
Aug 17 | $11,158 | $ | $ | $12,378 |
Sep 17 | $12,167 | $ | $ | $12,618 |
Oct 17 | $12,432 | $ | $ | $12,879 |
Nov 17 | $12,630 | $ | $ | $13,129 |
Dec 17 | $13,193 | $ | $ | $13,340 |
Jan 18 | $13,700 | $ | $ | $14,093 |
Feb 18 | $12,581 | $ | $ | $13,501 |
Mar 18 | $12,746 | $ | $ | $13,202 |
Apr 18 | $13,926 | $ | $ | $13,338 |
May 18 | $14,128 | $ | $ | $13,355 |
Jun 18 | $14,261 | $ | $ | $13,282 |
Jul 18 | $14,533 | $ | $ | $13,683 |
Aug 18 | $14,112 | $ | $ | $13,791 |
Sep 18 | $14,738 | $ | $ | $13,850 |
Oct 18 | $13,295 | $ | $ | $12,813 |
Nov 18 | $12,794 | $ | $ | $13,000 |
Dec 18 | $11,656 | $ | $ | $12,084 |
Jan 19 | $12,720 | $ | $ | $13,039 |
Feb 19 | $13,022 | $ | $ | $13,388 |
Mar 19 | $13,205 | $ | $ | $13,556 |
Apr 19 | $13,261 | $ | $ | $14,013 |
May 19 | $12,154 | $ | $ | $13,182 |
Jun 19 | $12,906 | $ | $ | $14,045 |
Jul 19 | $12,459 | $ | $ | $14,087 |
Aug 19 | $11,493 | $ | $ | $13,752 |
Sep 19 | $12,069 | $ | $ | $14,042 |
Oct 19 | $11,979 | $ | $ | $14,426 |
Nov 19 | $12,011 | $ | $ | $14,778 |
Dec 19 | $12,680 | $ | $ | $15,298 |
Jan 20 | $11,402 | $ | $ | $15,130 |
Feb 20 | $9,723 | $ | $ | $13,908 |
Mar 20 | $6,966 | $ | $ | $12,030 |
Apr 20 | $8,105 | $ | $ | $13,319 |
May 20 | $8,172 | $ | $ | $13,898 |
Jun 20 | $8,244 | $ | $ | $14,342 |
Jul 20 | $8,054 | $ | $ | $15,100 |
Aug 20 | $8,169 | $ | $ | $16,025 |
Sep 20 | $7,118 | $ | $ | $15,508 |
Oct 20 | $6,690 | $ | $ | $15,131 |
Nov 20 | $8,570 | $ | $ | $16,996 |
Dec 20 | $8,995 | $ | $ | $17,785 |
Jan 21 | $9,203 | $ | $ | $17,704 |
Feb 21 | $10,630 | $ | $ | $18,115 |
Mar 21 | $10,831 | $ | $ | $18,598 |
Apr 21 | $10,824 | $ | $ | $19,411 |
May 21 | $11,434 | $ | $ | $19,704 |
Jun 21 | $11,931 | $ | $ | $19,973 |
Jul 21 | $11,101 | $ | $ | $20,111 |
Aug 21 | $11,144 | $ | $ | $20,614 |
Sep 21 | $12,359 | $ | $ | $19,763 |
Oct 21 | $13,223 | $ | $ | $20,771 |
Nov 21 | $12,373 | $ | $ | $20,271 |
Dec 21 | $12,880 | $ | $ | $21,082 |
Jan 22 | $14,668 | $ | $ | $20,047 |
Feb 22 | $15,081 | $ | $ | $19,529 |
Mar 22 | $16,208 | $ | $ | $19,952 |
Apr 22 | $16,100 | $ | $ | $18,355 |
May 22 | $18,228 | $ | $ | $18,377 |
Jun 22 | $15,579 | $ | $ | $16,828 |
Jul 22 | $16,768 | $ | $ | $18,002 |
Aug 22 | $17,226 | $ | $ | $17,340 |
Sep 22 | $15,580 | $ | $ | $15,680 |
Oct 22 | $18,439 | $ | $ | $16,626 |
Nov 22 | $19,091 | $ | $ | $17,916 |
Dec 22 | $18,283 | $ | $ | $17,211 |
Jan 23 | $18,794 | $ | $ | $18,445 |
Feb 23 | $17,837 | $ | $ | $17,916 |
Mar 23 | $17,658 | $ | $ | $18,468 |
Apr 23 | $18,406 | $ | $ | $18,733 |
May 23 | $16,722 | $ | $ | $18,533 |
Jun 23 | $17,785 | $ | $ | $19,609 |
Jul 23 | $18,950 | $ | $ | $20,327 |
Aug 23 | $19,281 | $ | $ | $19,759 |
Sep 23 | $19,901 | $ | $ | $18,941 |
Oct 23 | $19,053 | $ | $ | $18,372 |
Nov 23 | $18,960 | $ | $ | $20,068 |
Dec 23 | $19,031 | $ | $ | $21,032 |
Jan 24 | $18,964 | $ | $ | $21,155 |
Feb 24 | $19,393 | $ | $ | $22,063 |
Mar 24 | $20,960 | $ | $ | $22,756 |
Apr 24 | $21,232 | $ | $ | $22,005 |
May 24 | $21,351 | $ | $ | $22,898 |
Jun 24 | $20,783 | $ | $ | $23,408 |
Jul 24 | $20,912 | $ | $ | $23,786 |
Aug 24 | $20,676 | $ | $ | $24,390 |
Sep 24 | $19,906 | $ | $ | $24,956 |
Oct 24 | $19,688 | $ | $ | $24,397 |
Nov 24 | $20,234 | $ | $ | $25,309 |
Dec 24 | $18,856 | $ | $ | $24,710 |
Jan 25 | $19,200 | $ | $ | $25,540 |
Feb 25 | $19,493 | $ | $ | $25,386 |
Mar 25 | $20,505 | $ | $ | $24,383 |
Apr 25 | $18,218 | $ | $ | $24,610 |
May 25 | $18,764 | $ | $ | $26,025 |
Jun 25 | $19,854 | $ | $ | $27,193 |
Jul 25 | $20,340 | $ | $ | $27,562 |
Aug 25 | $21,128 | $ | $ | $28,243 |
Sep 25 | $21,033 | $ | $ | $29,266 |
Oct 25 | $21,321 | $ | $ | $29,921 |
Nov 25 | $21,795 | $ | $ | $29,917 |
Dec 25 | $20,749 | $ | $ | $30,230 |
Jan 26 | $21,788 | $ | $ | $31,125 |
Feb 26 | $23,554 | $ | $ | $31,526 |
Mar 26 | $23,192 | $ | $ | $29,262 |
See “Average annual total returns” for additional information on fund performance.
Average annual total returns
........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | 1 Year | 5 Years | 10 Years |
|---|---|---|---|
Fund NAV........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |||
MSCI All Country World Index (Net)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Key Fund statistics
Net Assets........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
|---|---|
Number of Portfolio Holdings........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Net Investment Advisory Fees........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | $ |
Portfolio Turnover Rate........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
The Fund's total return is 9.77% for the period from September 1, 2025 to March 31, 2026.
The S&P U.S. Power Infrastructure Select Index (Spliced) reflects the performance of the MSCI ACWI Select Energy Producers Investable Market Index (Net) through October 28, 2025, and the S&P U.S. Power Infrastructure Select Index thereafter, which reflect the times when each index was the Underlying Index of the Fund.
The Fund will no longer compare its performance to the MSCI All Country World Index (Net) effective approximately one year from October 29, 2025.
What did the Fund invest in?
(as of March 31, 2026)
Industry allocation
Ten largest holdings
Industry | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
Electric Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Electrical Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Oil, Gas & Consumable Fuels........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Multi-Utilities........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Construction & Engineering........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Semiconductors & Semiconductor Equipment........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Independent Power and Renewable Electricity Producers........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Metals & Mining........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Electronic Equipment, Instruments & Components........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Building Products........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ |
Security | Percent of Total InvestmentsFootnote Reference(a) |
|---|---|
GE Vernova, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
NextEra Energy, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Eaton Corp. PLC........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Quanta Services, Inc......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
EQT Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Southern Co. (The)........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Duke Energy Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Expand Energy Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... | |
Hubbell, Inc., Class B........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................ | |
Constellation Energy Corp......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... |
| Footnote | Description |
Footnote(a) | Excludes money market funds. |
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 MSCI Inc., S&P Dow Jones Indices LLC, and their respective affiliates, nor do these companies make any representation regarding the advisability of investing in the Fund. BlackRock is not affiliated with the companies listed above.
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