Key Highlights

  • The fund tracks the S&P Latin America 40 Index (Net), targeting large listed companies across Latin America.
  • Its disclosed portfolio held 41 securities as of 26 October 2026, with Nu Holdings the largest listed position at 7.67%.
  • Net fund assets stood at USD 3.53 billion on 27 October 2026; the reported annual expense ratio was 0.47%.

The iShares Latin America 40 ETF (NYSEARCA:ILF) provides equity exposure to some of the region’s largest listed businesses through an index-tracking investment strategy. The fund’s closing price was USD 33.46 on 27 October 2026, while net assets totaled USD 3,528,424,813 on the same date. Its portfolio spans financial services, energy, materials, telecommunications and consumer-related businesses. The fund’s concentration in large regional companies makes the composition of its leading holdings particularly relevant when assessing the type of Latin American market exposure it represents.

What Does the Fund Hold?

ILF seeks to follow the S&P Latin America 40 Index (Net), an index designed around major Latin American equities. Although the benchmark name refers to 40 companies, the fund reported 41 holdings as of 26 October 2026. That distinction matters because the reported holdings count reflects the securities in the portfolio at a particular date and may not exactly match the number in the index title. Holdings can change as constituent weights, market values and index composition evolve.

Nu Holdings Class A represented 7.67% of the portfolio, with a disclosed market value of USD 269.89 million. Two separately listed Petrobras exposures followed: preferred-share American depositary receipts at 7.03% and common-share American depositary receipts at 6.70%. Together, those two holdings represented 13.73% of fund weight, making the Brazilian energy company a significant single-issuer exposure across distinct security classes. These are separate holdings rather than separate corporate issuers.

Banking, Mining and Other Leading Positions

Financial institutions feature prominently among the largest positions. Itaú Unibanco Holding accounted for 6.67% and Grupo Financiero Banorte for 4.51%, while Credicorp represented 4.07%. Alongside Nu Holdings, these positions show the fund’s notable exposure to banking and financial services businesses operating in different Latin American markets. Individual weights are a portfolio snapshot as of 26 October 2026, not fixed allocations.

The materials sector also contributes substantial weight through Vale at 6.57% and Grupo México at 6.15%. Both companies are linked to mining and metals activities, giving the ETF exposure to commodity-producing businesses as well as lenders and energy producers. Outside these groups, América Móvil accounted for 3.49% of holdings, and Fomento Económico Mexicano represented 3.35%. These positions extend the fund’s business mix into communications and consumer-related activities.

Geographic Exposure and Concentration

ILF offers regional exposure, but its largest constituent weights are not evenly distributed among countries or industries. Brazilian-linked names such as Petrobras, Itaú and Vale sit alongside Mexican businesses including Grupo México, Banorte, América Móvil and FEMSA. Nu Holdings and Credicorp add further financial-sector exposure. The portfolio is therefore best understood through the actual companies and security weights held, rather than through a presumption of equal country diversification. Movements in local currencies, sector valuations and company earnings can affect the underlying holdings in different ways.

Costs, Income Profile and Fund Structure

The fund’s expense ratio was 0.47%, and its stated distribution schedule was semi-annual. The reported 30-day SEC yield stood at 1.68% as of 30 September 2026, while the trailing distribution yield was 3.42% on that date. These are income-related measures, not historical ETF price-return figures, and they describe different calculations. The fund reported 105,250,000 shares outstanding as of 27 October 2026, with NYSE Arca as its listing venue.

The portfolio’s price-to-earnings ratio was reported at 13.48 and price-to-book ratio at 2.32 as of 26 October 2026. These aggregated valuation measures provide context for the securities represented in the fund but do not describe the valuation of every constituent. Market prices, portfolio weights and income figures can change, while the fund remains tied to the performance and composition of its selected Latin American equity universe.