Key Highlights

  • IACT (ASX:IACT) gives active exposure to large and mid-cap US stocks chosen by a factor rotation model.
  • The fund's only holding is the iShares U.S. Equity Factor Rotation Active ETF, at 99.96%.
  • Technology makes up 41.04%, financial services 13.84% and communication services 9.99%.
  • Management fees and costs are 0.45%, and the annual yield is 0.54%.

iShares U.S. Factor Rotation Active ETF (ASX:IACT) traded at $30.20 during the trading session on 30 October 2026, down 1.01%, with 25,967 units changing hands. IACT is an active US equity fund: rather than holding an index, it shifts exposure between investment styles such as value, quality and momentum according to a proprietary model. The fund was admitted to the ASX on 11 June 2025 and is benchmarked to the MSCI USA NR USD index.

Fund Details

The ISIN is AU0000396475 and management fees and costs are 0.45% a year. The benchmark is the MSCI USA NR USD index, and the fund sits in the Equity World Other category.

The day's range was $30.14 to $30.37, and average daily volume is about 44,427 units. Fund size and units on issue are not stated in this article.

Stock Exposure and Sector Mix

The fund holds its exposure through a single underlying vehicle, the iShares U.S. Equity Factor Rotation Active ETF, which makes up 99.96% of the portfolio. The stock mix is therefore set by the factor model of the underlying fund.

Sector weights are technology 41.04%, financial services 13.84%, communication services 9.99%, industrials 8.88% and healthcare 7.83%. Exposure is 99.94% United States, with a tiny position in Guatemala, and 99.21% of holdings are valued above $1 billion.

Income Profile

The annual yield is 0.54%. The most recent interim distribution was $0.024, with an ex-date of 29 September 2026, a record date of 30 September 2026 and a payment date of 9 October 2026.

Session Trading

IACT traded between $30.14 and $30.37 during the session, with 25,967 units changing hands. The bid-offer range was $30.18 to $30.20.

How the Portfolio Is Built

The fund invests at least 80% of its net assets in US large and mid-cap stocks chosen by the factor rotation model. The model moves exposure between factors such as value, momentum, size and quality as their relative strength changes, so the stock mix can shift materially over time.

Because the selection is active, the holdings and weights are determined by the model rather than by a market-value index, and the portfolio can look very different from the benchmark's sector mix.

What the Exposure Means

IACT gives investors an actively rotated stock exposure to large and mid-cap US companies, with the factor model setting the mix. Its technology-led weights can change with factor shifts, which makes it a different proposition from a fixed index fund.