Highlights

  • ISO seeks to track the S&P/ASX Small Ordinaries Total Return Index.
  • Basic materials represented 27.31% and industrials 18.32% of sector exposure.
  • The portfolio listing contained 212 holdings, with the ten largest positions representing 14.62%.
  • Management fees and costs were listed at 0.55%, with a predominantly Equity asset allocation.

iShares S&P/ASX Small Ordinaries ETF (ASX:ISO) provides exposure to an Australian smaller company benchmark. The fund seeks to track the S&P/ASX Small Ordinaries Total Return Index. At the time of writing on 6 November 2026, ISO was trading at AUD 4.77. Its portfolio covers several industries, with materials and industrials the largest allocations and relatively small individual weights among the leading holdings.

Smaller company exposure across a broad portfolio

The Small Ordinaries mandate gives ISO a different company universe from an Australian large company portfolio. Its Market Capitalisation breakdown allocated 44.95% to businesses above AUD 1 billion, 51.92% to the AUD 500 million to AUD 1 billion band and 3.13% below AUD 500 million. Smaller company exposure is therefore defined relative to the market and is not confined to its lowest-value businesses.

The portfolio listing contained 212 holdings. The benchmark objective and reported holding count describe different features of the structure. The company breadth can spread individual issuer exposure, while the size segment and sector mix retain common market risks.

Materials industrials and leading holdings

Basic materials accounted for 27.31% of sector exposure, industrials 18.32%, real estate 9.27%, consumer cyclical companies 9.19% and financial services 8.75%. Technology represented 7.33%, energy 5.50%, healthcare 5.26%, communication services 4.82% and consumer defensive companies 4.26%.

Vault Minerals was the largest holding at 2.08%, followed by Ventia Services at 1.67%, Megaport at 1.63%, Reece at 1.43% and Emerald Resources at 1.36%. PDI Gold, West African Resources, Sims, NRW Holdings and Viva Energy completed the top ten. These positions represented 14.62%, leaving most of the portfolio distributed across the remaining holdings.

Geography asset allocation and listed costs

Geographic exposure was 90.39% Australia, 3.24% New Zealand, 3.21% Canada and 3.16% United States. The asset allocation was 98.78% equities, 0.92% cash and 0.30% other assets. These figures show a primarily equity portfolio within the smaller company universe.

Management fees and costs were listed at 0.55%. A final distribution of AUD 0.170 per unit had an ex-distribution date of 1 July 2026, a Record Date of 2 July and payment on 13 July. Future amounts can vary. Smaller company trading liquidity, company financing conditions and sector movements can influence the fund, alongside differences between ETF and benchmark outcomes after costs.

Key Insights

ISO provides broad participation in an Australian smaller company benchmark with relatively low concentration in its largest positions. Materials and industrials remain important sector exposures. The market capitalisation bands and holding weights give a more precise picture of the portfolio than the small company label alone.