Rotating Factors: The Model Behind iShares IACT (ASX:IACT)

Sonal Goyal

28 October 2026 12:31 PM AEDT

Rotating Factors: The Model Behind iShares IACT (ASX:IACT)

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Key Highlights

iShares U.S. Factor Rotation Active ETF (ASX:IACT) aims to outperform large- and mid-cap US equity markets using a factor rotation model.
The portfolio is held through iShares U.S. Equity Factor Rotation Active ETF, which represents 99.96% of assets.
The fund has a management fee of 0.45%.

As of 27 October, iShares U.S. Factor Rotation Active ETF (ASX:IACT) allocates to US large- and mid-cap shares using a proprietary model that rotates between investment styles. It has traded since 11 June 2025, charges 0.45% and is benchmarked to the MSCI USA NR USD index.

Key Fact	Detail
Fund	iShares U.S. Factor Rotation Active ETF
ASX code	IACT
Issuer	BlackRock (iShares)
Category	Equity World Other
Benchmark	MSCI USA NR USD
ISIN	AU0000396475
Admitted to the ASX	11 June 2025
Fund size	Not disclosed
Management fee	0.45%
Holdings	A single underlying fund
Latest distribution	Interim, $0.024 per unit (ex-date 29 Sep 2026; payment 9 Oct 2026)

What Factor Rotation Means

Rather than following a fixed index, the fund shifts its tilt between style factors as its model directs. Under normal circumstances at least 80% of net assets, plus any borrowings for investment purposes, goes into US listed common stock of large- and mid-capitalisation companies selected by the BFA factor rotation model. In practice IACT holds units of iShares U.S. Equity Factor Rotation Active ETF (DYNF), which accounts for 99.96% of the portfolio.

What the Look-Through Shows

Look-through sector weights are technology 41.04%, financial services 13.84%, communication services 9.99% and industrials 8.88%, with energy at 4.82%. Because the model can change tilts, these weights can drift from a conventional index. Geographic exposure is 99.94% United States.

Further Portfolio Detail

By market capitalisation, 99.21% of the portfolio is in companies above $1 billion in market capitalisation.

Payment Timetable

Interim distribution details: $0.024 per unit, ex-date 29 September 2026, record date 30 September 2026, payment date 9 October 2026.

Announcements to Note

Lodgements with the ASX have included a final distribution announcement on 29 September 2026, distribution reinvestment plan prices, components of distributions on 1 October 2026 and monthly applications, redemptions and units on issue reporting on 7 October 2026.

Where the Fund Sits

iShares U.S. Factor Rotation Active ETF is classified as Equity World Other. Funds in this category are almost exclusively dedicated to global stocks, with less than 20% of the portfolio in assets other than equities. They may have a bias towards style and size characteristics, or be defined by a single sector or country exposure.

Index and Track Record Length

The fund has been listed since 11 June 2025, a period of about 1 year. Its stated benchmark is the MSCI USA NR USD index, and the issuer is BlackRock (iShares) (ISIN AU0000396475). It charges a management fee of 0.45%.

What the Dates Mean

Three dates matter for each distribution: the ex-date, after which new buyers do not qualify for the payment; the record date, when entitlements are set from the register; and the payment date, when the money is paid.

Wrapping Up

IACT packages an active factor strategy inside a single iShares holding. The latest distribution was an interim payment of $0.024 per unit on 9 October 2026.

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