Highlights

  • IAI seeks exposure to US Investment banks, brokerages and securities exchanges.
  • The fund reports NAV of USD 179.86 as of 2 November 2026.
  • IAI lists an expense ratio of 0.37% and distributes quarterly.

iShares U.S. Broker-Dealers & Securities Exchanges ETF (NYSE Arca:IAI) seeks to track US investment banks, brokerages and securities exchanges. Its NAV stood at USD 179.86 as of 2 November 2026. Net Assets totalled USD 1,303,979,288 as of 2 November 2026.

Brokers Dealers and Exchanges Define the Universe

IAI tracks the Dow Jones U.S. Select Investment Services Index. The benchmark includes specialised financial service providers such as securities Brokers and dealers, online brokers and securities or commodities exchanges. It can include companies of different sizes. The resulting mandate focuses on investment services rather than the whole financial sector.

The fund uses representative sampling, selecting investments intended to resemble the benchmark’s overall characteristics. It may therefore hold a different collection of securities from the index while seeking a similar investment profile.

Portfolio Composition and Exposure

IAI reported 35 holdings as of 30 October 2026. Its allocation by Market Value included Investment Banking & Brokerage at 59.70%, Financial Exchanges & Data at 40.21% and Cash and/or Derivatives at 0.10% as of 30 October 2026.

The fact sheet dated 30 September 2026 identified holdings including Goldman Sachs Group at 18.16%, Morgan Stanley at 15.55% and Charles Schwab at 9.48%. These position weights refer to that reporting date and can change as the portfolio and market values evolve.

The same fact sheet reported a P/E ratio of 22.85x and a P/B ratio of 3.49x. These valuation measures complement the holdings information with Earnings and book-value characteristics associated with the Equity portfolio.

Fees and Distribution Policy

The published expense ratio is 0.37%. Distributions are scheduled quarterly.

The 30-day SEC Yield was 1.05% as of 30 September 2026. This standardised income measure reflects the fund’s recent income after expenses; it is separate from changes in the market value of its shares.

The prospectus notes that brokerage commissions and other intermediary charges may apply separately. Fund shares trade at market prices, which can differ from NAV, so the stated NAV does not establish the price of every exchange transaction.

Key Insights

Financial services companies are exposed to regulation, interest rates, economic conditions and market volatility. Changes in those conditions can affect the businesses represented in the portfolio.