Key Highlights

  • The fund holds 22 U.S. telecommunications and communications equipment companies.
  • Cisco Systems, Arista Networks and Verizon Communications are the largest positions.
  • Net asset value is $38.89, after a one-day gain of $1.83, or 4.95%.
  • The expense ratio is 0.37%, and distributions are paid quarterly.

Telecommunications covers both the carriers that deliver phone and internet service and the companies that build the networking equipment behind them. The iShares U.S. Telecommunications ETF (CBOE:IYZ) offers exposure to both groups in one holding. Figures in this article are current to November 9, 2026. The fund seeks to track an index composed of U.S. telecommunications equities, providing diversified access to companies that Supply phone, internet and communication services. Shares trade on Cboe BZX and have been listed since May 2000.

Fund Fact

Detail

Exchange and ticker

Cboe BZX: IYZ

Fund inception

May 22, 2000

Net assets

$546.4 million

Net asset value

$38.89

Daily NAV change

+$1.83 (+4.95%)

Expense ratio

0.37%

30-day SEC yield

1.34%

Distribution frequency

Quarterly

Number of holdings

22

Networking Equipment and Carriers

Cisco Systems accounts for about 22.1% of market value, and Arista Networks about 11.6%. Motorola Solutions, Ubiquiti and EchoStar add equipment exposure, together making up a significant share of the portfolio.

Carriers Verizon Communications, AT&T, Comcast and T-Mobile US account for the other large positions. Verizon, at about 11.5%, is the largest carrier in the portfolio.

Trading and Price Movement

The net asset value rose $1.83 in the latest session, a gain of 4.95%, one of the larger one-day moves in the fund's recent history. Shares outstanding total about 14 million, and the 30-day average Volume of roughly 1.5 million shares indicates active trading.

The 30-day median bid-ask spread of 0.03% reflects low trading costs. The premium to NAV was -0.03 in recent figures, so shares traded close to the value of underlying holdings.

Costs, Income and Sector 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 1.34% reflects a moderate income profile.

Telecommunications carriers face heavy Capital spending, competition and regulatory scrutiny. Equipment makers depend on network upgrade cycles and customer spending. With 22 positions, the fund's results can shift meaningfully when a few large companies move.

Final Word

The iShares U.S. Telecommunications ETF offers a compact view of American telecom carriers and networking equipment makers, with a portfolio weighted toward a few large names. Its quarterly income, moderate fee and concentrated holdings define its profile. Investors will weigh communications exposure against their broader sector and income objectives.