Key Highlights

  • The fund holds 514 small- and mid-cap U.S. stocks.
  • About 41% of Market Value sits in the iShares Russell 2000 ETF, an underlying fund.
  • Net Assets total about $4.27 billion, and NAV stands at $87.78.
  • The net expense ratio is 0.15% after fee waivers, with quarterly distributions.

Small and mid-sized U.S. companies often receive less attention than large-cap names, and the iShares Russell 2500 ETF (CBOE:SMMD) provides a broad, low-cost way to access that segment. Figures in this article are current to November 9, 2026. The fund seeks to track a broad index composed of small- and mid-cap U.S. stocks, offering Diversification beyond the largest companies. The fund trades on Cboe BZX and has been listed since July 2017.

Fund Fact

Detail

Exchange and ticker

Cboe BZX: SMMD

Fund inception

July 6, 2017

Net assets

$4.27 billion

Net asset value

$87.78

Daily NAV change

+$2.62 (+3.08%)

Expense ratio (gross / net)

0.23% / 0.15%

30-day SEC yield

1.34%

Distribution frequency

Quarterly

Number of holdings

514

Holdings Mix and Structure

The fund holds a sizable position in the iShares Russell 2000 ETF, which accounts for roughly 40.6% of market value. This fund-of-funds structure means the portfolio includes exposure to underlying funds, a detail that shapes how costs are reported.

Direct holdings beneath that layer include companies such as ATI, US Foods Holding, Royal Gold and Viatris. Each of these positions represents less than one percent of market value, reflecting the wide spread of companies in the index.

Trading and Price Movement

The net asset value rose $2.62 in the latest session, or 3.08%. Shares outstanding total about 48.7 million, and the 30-day average Volume of roughly 382,000 shares indicates steady activity. The median bid-ask spread of 0.07% reflects moderate trading costs.

Shares traded slightly below NAV in recent figures, with a premium of -0.06, meaning the Market Price sat a touch under the value of underlying holdings.

Costs, Distributions and Risks

The gross expense ratio of 0.23% includes acquired fund fees of 0.08%, and fee waivers reduce the net expense ratio to 0.15%. The fund pays distributions quarterly, and the 30-day SEC Yield of 1.34% reflects a modest income profile.

Small-capitalization companies can be less stable and less liquid than larger firms, which can lead to sharper price swings. The fund-of-funds structure also means investors are exposed to the risks and expenses of the underlying holdings.

Final Word

The iShares Russell 2500 ETF offers a broad route to small- and mid-cap U.S. stocks through an index-tracking structure that includes a large position in another fund. Its quarterly income, net expense ratio and wide company count define its profile. Investors will consider how smaller companies fit within a diversified Equity allocation.