Key Highlights

  • The fund holds 30 U.S. regional banks, mostly small- and mid-sized institutions.
  • U.S. Bancorp and PNC Financial Services together account for about 30% of market value.
  • Net asset value is $60.70, after a one-day gain of $1.31, or 2.20%.
  • The expense ratio is 0.37%, and distributions are paid quarterly.

Regional banks serve local businesses and households across the United States, and the iShares U.S. Regional Banks ETF (NYSEARCA:IAT) offers a targeted holding in that group. Figures in this article are current to November 9, 2026. The fund seeks to track an index composed of U.S. regional bank equities, giving investors targeted exposure to small- and mid-sized banks. Shares trade on NYSE Arca and have been listed since May 2006.

Fund Fact

Detail

Exchange and ticker

NYSE Arca: IAT

Fund inception

May 1, 2006

Net assets

$640.3 million

Net asset value

$60.70

Daily NAV change

+$1.31 (+2.20%)

Expense ratio

0.37%

30-day SEC yield

2.78%

Distribution frequency

Quarterly

Number of holdings

30

Concentration in the Largest Banks

U.S. Bancorp accounts for about 15.1% of Market Value and PNC Financial Services about 14.7%. Truist Financial adds roughly 9.8%, so the three largest positions together make up nearly 40% of the fund.

Fifth Third, Regions Financial, Huntington Bancshares, Citizens Financial and M&T Bank follow, each with weights between about 4% and 5%. The breadth of the lower-ranked holdings is narrower than the top positions suggest.

Trading and Price Movement

The net asset value rose $1.31 in the latest session, a gain of 2.20%. Shares outstanding total about 10.6 million, and average Volume of roughly 639,000 shares a day points to steady trading. The 30-day median bid-ask spread of 0.03% reflects narrow trading costs.

The premium to NAV was 0.07 in recent figures, so shares traded close to the value of underlying holdings.

Costs, Income and Credit Cycle Risk

The expense ratio is 0.37%, consisting of a management fee of the same amount. Quarterly distributions are paid, and the 30-day SEC Yield of 2.78% reflects a moderate income profile.

Regional banks are sensitive to Interest Rate spreads, Commercial Real Estate lending and credit conditions in local economies. Because the holdings are concentrated among a handful of large regional banks, sector developments can affect the fund sharply.

Final Word

The iShares U.S. Regional Banks ETF offers targeted exposure to U.S. regional lenders, with a portfolio concentrated among its largest institutions. Its narrow trading spread, quarterly income and moderate fee define its profile. Investors will weigh regional banking exposure against their broader financial sector allocation.