iShares U.S. Aerospace & Defense ETF (ITA)

Market Price (10/18/2026): $208.8

iShares U.S. Aerospace & Defense ETF (ITA)

Market Price (10/18/2026): $208.8

Key Takeaways

ITA has returned -2.5% YTD vs +12.5% for SPY; +1.7% over the past 12 months (SPY +15.8%). details →
Priced in gold, ITA has returned -8.6% over the past 3 years, vs +95.1% in dollars — its dollar gains have lagged gold. details →
Over the past month, ITA has seen net outflows of −$198M (−1.6% of assets). details →
ITA's portfolio trades at 26.9x forward earnings — a 247% premium to SPY (7.7x). details →
ITA's top 10 holdings represent 75% of the fund vs 39% for SPY — a more concentrated portfolio. details →

Last updated: 10/17/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with ITA

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+11.3%

Volatility

13.9%

Sharpe

0.64

YTD

+0.2%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	ITA	25.0%	1.0%	1.2%	-2.2%	-2.5%
Bond	BND	50.0%	0.0%	0.9%	-0.6%	-1.4%
Gold	GLD	10.0%	-0.2%	-0.7%	-4.1%	-3.6%
Commodity	DBC	2.5%	1.3%	2.4%	2.1%	50.9%
Real Estate	VNQ	5.0%	0.3%	1.2%	-1.3%	6.6%
Bitcoin	BTCUSD	0.0%	-0.8%	-1.3%	6.7%	-6.9%
Cash	GOVT	7.5%	0.1%	0.9%	-0.6%	-1.7%
Conservative Portfolio		100.0%	0.3%	0.8%	-1.3%	-0.2%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	55.0%	1.0%	1.2%	-2.2%	-2.5%
Bond	BND	25.0%	0.0%	0.9%	-0.6%	-1.4%
Gold	GLD	7.0%	-0.2%	-0.7%	-4.1%	-3.6%
Commodity	DBC	4.0%	1.3%	2.4%	2.1%	50.9%
Real Estate	VNQ	5.0%	0.3%	1.2%	-1.3%	6.6%
Bitcoin	BTCUSD	2.0%	-0.8%	-1.3%	6.7%	-6.9%
Cash	GOVT	2.0%	0.1%	0.9%	-0.6%	-1.7%
Moderate Portfolio		100.0%	0.6%	1.0%	-1.5%	0.2%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	80.0%	1.0%	1.2%	-2.2%	-2.5%
Bond	BND	5.0%	0.0%	0.9%	-0.6%	-1.4%
Gold	GLD	3.0%	-0.2%	-0.7%	-4.1%	-3.6%
Commodity	DBC	2.2%	1.3%	2.4%	2.1%	50.9%
Real Estate	VNQ	4.5%	0.3%	1.2%	-1.3%	6.6%
Bitcoin	BTCUSD	5.2%	-0.8%	-1.3%	6.7%	-6.9%
Cash	GOVT	0.0%	0.1%	0.9%	-0.6%	-1.7%
Aggressive Portfolio		100.0%	0.8%	1.0%	-1.6%	-1.1%

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	25.0%	13.4%	21.6%	0.56
Bond	BND	50.0%	1.3%	5.2%	-0.27
Gold	GLD	10.0%	12.3%	15.4%	0.65
Commodity	DBC	2.5%	8.3%	17.3%	0.37
Real Estate	VNQ	5.0%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	0.0%	63.1%	76.6%	0.97
Cash	GOVT	7.5%	0.4%	4.9%	-0.48
Conservative Portfolio		100.0%	6.2%	8.1%	0.43

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	55.0%	13.4%	21.6%	0.56
Bond	BND	25.0%	1.3%	5.2%	-0.27
Gold	GLD	7.0%	12.3%	15.4%	0.65
Commodity	DBC	4.0%	8.3%	17.3%	0.37
Real Estate	VNQ	5.0%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	2.0%	63.1%	76.6%	0.97
Cash	GOVT	2.0%	0.4%	4.9%	-0.48
Moderate Portfolio		100.0%	11.3%	13.9%	0.64

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	80.0%	13.4%	21.6%	0.56
Bond	BND	5.0%	1.3%	5.2%	-0.27
Gold	GLD	3.0%	12.3%	15.4%	0.65
Commodity	DBC	2.2%	8.3%	17.3%	0.37
Real Estate	VNQ	4.5%	5.2%	17.5%	0.21
Bitcoin	BTCUSD	5.2%	63.1%	76.6%	0.97
Cash	GOVT	0.0%	0.4%	4.9%	-0.48
Aggressive Portfolio		100.0%	16.1%	19.5%	0.73

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	ITA	25.0%	-10.0%	-48.2%	-24.3%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-12.3%	-16.1%	-5.8%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	ITA	55.0%	-10.0%	-48.2%	-24.3%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-11.7%	-31.1%	-14.7%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	ITA	80.0%	-10.0%	-48.2%	-24.3%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-12.8%	-43.0%	-22.1%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

Learn More →

Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	10/31/27	10/18/26	2025	2024	2023	2022	2021
Share Price CYE		$209.07	$214.40	$144.24	$124.54	$108.93	$99.06
Dividend/Share TTM		$0.31	$1.18	$1.23	$1.17	$1.06	$0.84
Valuation [1]
P/S	2.78	3.13	3.37	2.53	2.27	2.05	1.92
P/E		32.31	36.12	30.40	22.61	24.86	20.53
P/E (Non-GAAP) [2]	27.41	32.63	40.05	31.10	35.91	33.98	33.12
P/FCF		37.58	52.69	62.64	35.66	36.69	72.99
Yields TTM
Earnings Yield	3.65%	3.09%	2.77%	3.29%	4.42%	4.02%	4.87%
Dividend Yield	0.15%	0.15%	0.55%	0.85%	0.94%	0.97%	0.85%
Total Yield (TY)	3.80%	3.25%	3.32%	4.14%	5.36%	5.00%	5.72%
Risk Premium [3]
Risk Free Rate (Rf)	5.10%	5.10%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	-1.30%	-1.85%	-0.86%	-0.44%	1.48%	1.12%	4.20%
Growth Rates [6]
Sales Growth	10.0%	8.7%	9.8%	11.9%	2.8%	-5.7%
Earnings Growth [7]		54.8%	21.4%	-15.2%	226.8%	-38.7%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
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Highlights

YIELD

ITA's earnings yield is 3.09%, based on its 32.3x trailing P/E. With a 0.15% dividend yield, ITA is yielding 3.25% in total.

RISK

Compared to US Treasuries at 5.10%, ITA's total yield implies a -1.85% risk premium. A negative risk premium means investors earn less than risk-free Treasuries — valuations are historically stretched, though expectations of falling interest rates or fast earnings growth can justify such levels.

FORWARD EXPECTATIONS

Based on analyst estimates, ITA's forward total yield is 3.80%, implying a -1.30% risk premium assuming stable Treasury rates.

Top 20 Holdings for ITA

Total Weights
Top 5: 54.0% | Top 10: 74.8% | Top 20: 91.6%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.88%	100.00%	100.00%	2.7	26.9	+10.0%	+14.0%
Top 20		91.61%	89.31%	94.07%	2.8	26.8	+9.8%	+13.5%
GE	GE Aerospace	20.74%	9.77%	19.16%	5.9	35.3	+11.0%	+11.2%
RTX	RTX	16.25%	17.62%	16.14%	2.6	24.7	+7.7%	+8.8%
BA	Boeing	7.68%	14.57%	4.18%	1.4	62.3	+14.9%	—
TDG	TransDigm	4.68%	2.17%	5.12%	5.5	23.2	+7.2%	+14.5%
LMT	Lockheed Martin	4.61%	8.49%	7.67%	1.5	17.1	+6.1%	+6.6%
HWM	Howmet Aerospace	4.60%	1.44%	3.27%	7.8	35.0	+14.4%	+19.6%
GD	General Dynamics	4.46%	7.99%	7.24%	1.6	18.5	+5.0%	+9.3%
NOC	Northrop Grumman	4.43%	7.81%	9.06%	1.6	17.3	+6.8%	+4.0%
HONA	Honeywell Aerospace	3.90%	3.83%	5.83%	2.7	18.8	+8.2%	+17.8%
LHX	L3Harris Technologies	3.44%	5.17%	4.64%	1.9	18.9	+7.4%	+12.2%
RKLB	Rocket Lab	2.93%	0.21%	—	24.4	—	+44.5%	—
AXON	Axon Enterprise	2.68%	0.83%	0.57%	6.8	36.4	+29.5%	+42.4%
ATI	ATI	2.03%	1.15%	1.29%	4.5	29.2	+10.1%	+22.5%
WWD	Woodward	1.54%	1.01%	1.47%	4.1	29.6	+9.9%	+18.0%
CRS	Carpenter Technology	1.49%	0.75%	1.42%	5.2	26.0	+10.3%	+19.2%
CW	Curtiss-Wright	1.47%	0.88%	1.45%	4.6	29.8	+8.3%	+9.3%
FTAI	FTAI Aviation	1.36%	0.76%	1.34%	2.8	14.0	+69.2%	+129.4%
HEI-A	Heico	1.31%	0.47%	0.86%	7.2	42.0	+11.1%	+14.3%
BWXT	BWX Technologies	1.03%	0.87%	0.98%	3.1	26.5	+8.6%	+10.4%
TXT	Textron	0.99%	3.50%	2.38%	0.8	10.4	+3.8%	+13.4%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 10/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 10/31/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for ITA Top Holdings

Ticker	Holding	Weight	Mkt Price 10/17	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
ITA	iShares U.S. Aerospace & Defense ETF	100.00%	209.07	0.0%	-2.2%	-2.5%	1.7%	95.1%	101.7%	255.3%
GE	GE Aerospace	20.74%	313.83	0.0%	0.3%	2.3%	5.1%	271.9%	391.4%	147.8%
RTX	RTX	16.25%	193.92	0.0%	0.2%	6.9%	24.6%	177.3%	137.8%	316.7%
BA	Boeing	7.68%	190.21	0.0%	-3.4%	-12.4%	-10.7%	2.4%	-12.3%	51.8%
TDG	TransDigm	4.68%	1,139.34	0.0%	5.9%	-14.3%	-10.0%	58.3%	114.2%	547.3%
LMT	Lockheed Martin	4.61%	552.09	0.0%	2.6%	16.2%	14.4%	34.1%	72.9%	209.4%
HWM	Howmet Aerospace	4.60%	220.96	0.0%	-2.1%	7.9%	16.7%	402.3%	625.5%	1,017.9%
GD	General Dynamics	4.46%	344.23	0.0%	-2.8%	4.1%	5.8%	52.2%	84.8%	182.3%
NOC	Northrop Grumman	4.43%	519.86	0.0%	-0.8%	-7.7%	-11.1%	11.4%	43.1%	179.8%
HONA	Honeywell Aerospace	3.90%	168.09	0.0%	0.6%
LHX	L3Harris Technologies	3.44%	248.51	0.0%	-0.8%	-14.3%	-11.0%	46.6%	15.0%	226.9%
RKLB	Rocket Lab	2.93%	50.84	0.0%	-25.0%	-27.1%	-23.3%	1,096.2%	310.0%
AXON	Axon Enterprise	2.68%	390.29	0.0%	-13.9%	-31.3%	-41.8%	77.8%	114.8%	1,580.8%
ATI	ATI	2.03%	185.59	0.0%	1.1%	61.7%	131.0%	387.6%	1,012.6%	946.2%
WWD	Woodward	1.54%	328.48	0.0%	2.8%	8.9%	33.2%	164.0%	196.2%	491.5%
CRS	Carpenter Technology	1.49%	377.09	0.0%	-7.3%	19.9%	58.7%	504.3%	1,109.3%	1,031.0%
CW	Curtiss-Wright	1.47%	502.32	0.0%	-11.4%	-8.8%	-7.7%	146.5%	286.3%	511.4%
FTAI	FTAI Aviation	1.36%	164.46	0.0%	-15.7%	-16.0%	-0.6%	403.7%	796.2%	2,800.9%
HEI-A	Heico	1.31%	233.06	0.0%	5.5%	-7.6%	-2.5%	79.9%	88.7%	521.0%
BWXT	BWX Technologies	1.03%	137.01	0.0%	-6.4%	-20.4%	-32.2%	81.3%	156.0%	294.5%
TXT	Textron	0.99%	75.93	0.0%	-6.2%	-12.8%	-6.6%	-3.0%	4.3%	102.0%

Guidance Updates for ITA Top Holdings

	Ticker	Company	Earnings Date	Guidance Metric	Midpoint Value	% Change	Guidance Change
HWM_8062026	HWM	Howmet Aerospace	8/6/2026	Q3 2026 Revenue	2.58 Bil	7.3%	Higher NewNew Guidance Higher than Prior Actual of 2.40 Bil for Q2 2026
RKLB_8102026	RKLB	Rocket Lab	8/10/2026	Q3 2026 Revenue	257.50 Mil	10.8%	Higher NewNew Guidance Higher than Prior Actual of 232.50 Mil for Q2 2026

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
ITA Return	9%	10%	14%	16%	49%	-3%	128%
Peers Return	27%	-13%	31%	10%	30%	46%	203%
S&P 500 Return	27%	-19%	24%	23%	16%	14%	108%
Monthly Win Rates [3]
ITA Win Rate	50%	42%	67%	58%	75%	40%
Peers Win Rate	60%	50%	55%	55%	65%	66%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
ITA Max Drawdown	-15%	-19%	-13%	-9%	-15%	-20%
Peers Max Drawdown	-22%	-40%	-20%	-21%	-29%	-19%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMH, SOXX, IBB, XBI, XOP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/16/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
ITA	-0.03	1.03	0.63
Equity Top Results (3Y)
IALT	2.30	2.30	2.30
VLUE	2.18	1.44	0.76
SPMO	0.89	1.43	0.86
SMH	1.69	1.38	0.95
CGDV	1.03	1.35	0.89

Results as of 9302026.

Event	ITA	S&P 500
2025 US Tariff Shock
% Loss	-12.2%	-18.8%
% Gain to Breakeven	13.9%	23.1%
Time to Breakeven	21 days	79 days
2022 Inflation Shock & Fed Tightening
% Loss	-11.4%	-24.5%
% Gain to Breakeven	12.9%	32.4%
Time to Breakeven	24 days	427 days
2020 COVID-19 Crash
% Loss	-50.2%	-33.7%
% Gain to Breakeven	100.8%	50.9%
Time to Breakeven	1044 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-25.5%	-19.2%
% Gain to Breakeven	34.3%	23.8%
Time to Breakeven	200 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-14.6%	-12.2%
% Gain to Breakeven	17.1%	13.9%
Time to Breakeven	71 days	62 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-21.0%	-17.9%
% Gain to Breakeven	26.5%	21.8%
Time to Breakeven	162 days	123 days

Compare to SMH, SOXX, IBB, XBI, XOP

In The Past

iShares U.S. Aerospace & Defense ETF's stock fell -12.2% during the 2025 US Tariff Shock. Such a loss loss requires a 13.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	ITA	S&P 500
2020 COVID-19 Crash
% Loss	-50.2%	-33.7%
% Gain to Breakeven	100.8%	50.9%
Time to Breakeven	1044 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-25.5%	-19.2%
% Gain to Breakeven	34.3%	23.8%
Time to Breakeven	200 days	105 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-21.0%	-17.9%
% Gain to Breakeven	26.5%	21.8%
Time to Breakeven	162 days	123 days
2008-2009 Global Financial Crisis
% Loss	-58.6%	-53.4%
% Gain to Breakeven	141.7%	114.4%
Time to Breakeven	1066 days	1085 days

Compare to SMH, SOXX, IBB, XBI, XOP

In The Past

iShares U.S. Aerospace & Defense ETF's stock fell -12.2% during the 2025 US Tariff Shock. Such a loss loss requires a 13.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

ITA Dip Buy History

ITA had 25 events since 6/4/2007 where the dip threshold of -5.0% within 60 trading days was triggered

21% median peak return within 1 year of dip event
309 days is the median time to peak return after a dip event
-7% median max drawdown within 1 year of dip event

60 Trading-Day Dip			ITA Subsequent Performance
Date	ITA	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			16%	21%	-7%	309
9/8/2026	-5%	4%			-9%	0
4/21/2026	-5%	2%			-9%	115
4/4/2025	-6%	-14%	71%	86%	0%	332
1/10/2025	-5%	0%	69%	69%	-7%	371
9/12/2023	-5%	1%	32%	36%	-6%	353
5/12/2023	-5%	0%	23%	23%	-7%	363
9/1/2022	-6%	-4%	15%	19%	-9%	313
5/9/2022	-6%	-11%	14%	21%	-7%	298
1/27/2022	-6%	-6%	16%	16%	-7%	309
11/26/2021	-5%	2%	11%	14%	-8%	349
8/26/2021	-5%	7%	0%	8%	-10%	211
10/28/2020	-6%	-1%	41%	52%	0%	223
8/31/2020	-10%	10%	28%	36%	-10%	281
2/25/2020	-7%	0%	-5%	0%	-45%	0
10/24/2018	-6%	-5%	13%	20%	-16%	329
4/30/2018	-6%	-6%	9%	13%	-16%	156
1/20/2016	-7%	-9%	34%	37%	-4%	322
8/21/2015	-7%	-7%	17%	17%	-9%	360
10/13/2014	-6%	-5%	14%	25%	0%	179
7/31/2014	-5%	4%	16%	23%	-1%	253
5/15/2012	-5%	-2%	31%	31%	-5%	367
8/2/2011	-8%	-6%	6%	15%	-14%	237
6/1/2010	-6%	-5%	25%	27%	-6%	345
6/25/2008	-7%	-3%	-27%	6%	-49%	51
1/2/2008	-6%	-7%	-37%	1%	-50%	1

[1] Dip event: the stock fell more than 5.0% over 60 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/17/2026

ITA had 15 events since 6/4/2007 where the dip threshold of -10% within 90 trading days was triggered

22% median peak return within 1 year of dip event
264 days is the median time to peak return after a dip event
-7.2% median max drawdown within 1 year of dip event

90 Trading-Day Dip			ITA Subsequent Performance
Date	ITA	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			19%	22%	-7%	264
10/5/2026	-10%	4%			-2%	11
4/4/2025	-11%	-14%	71%	86%	0%	332
10/14/2022	-12%	-13%	19%	28%	0%	270
6/17/2022	-10%	-18%	25%	26%	-3%	259
12/1/2021	-11%	2%	18%	19%	-4%	344
10/13/2020	-13%	11%	33%	40%	-8%	238
3/6/2020	-10%	-1%	2%	5%	-40%	355
12/7/2018	-12%	-6%	25%	29%	-11%	343
8/24/2015	-11%	-9%	20%	21%	-6%	357
11/23/2011	-11%	-12%	19%	22%	0%	124
8/4/2011	-11%	-8%	14%	22%	-9%	235
7/16/2010	-11%	-6%	28%	35%	-2%	356
9/4/2008	-11%	-11%	-21%	1%	-50%	4
6/26/2008	-11%	-4%	-25%	9%	-48%	50
2/5/2008	-11%	-11%	-35%	7%	-46%	104

[1] Dip event: the stock fell more than 10% over 90 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/17/2026

ITA had 3 events since 6/4/2007 where the dip threshold of -20% within 180 trading days was triggered

8.9% median peak return within 1 year of dip event
50 days is the median time to peak return after a dip event
-45% median max drawdown within 1 year of dip event

180 Trading-Day Dip			ITA Subsequent Performance
Date	ITA	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			-7%	9%	-45%	50
3/11/2020	-22%	-6%	25%	25%	-29%	365
9/17/2008	-22%	-19%	-7%	5%	-45%	2
6/26/2008	-23%	-17%	-25%	9%	-48%	50

[1] Dip event: the stock fell more than 20% over 180 trading days. A new event is counted only when it comes more than 30 calendar days after the previous one.
[2] Analysis for period from 1/1/2005 to 10/17/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
QQQ	Invesco QQQ Trust, Series 1	-6.6%	709.80	10172026	759.66	10062026	11
QQQM	Invesco NASDAQ 100 ETF	-6.6%	292.26	10172026	312.76	10062026	11
ONEQ	Fidelity Nasdaq Composite Index ETF	-5.3%	103.01	10172026	108.77	10062026	11
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-7.4%	154.66	10172026	167.03	8132026	65
IJH	iShares Core S&P Mid-Cap ETF	-8.0%	72.35	10172026	78.67	8162026	62
IWR	iShares Russell Mid-Cap ETF	-5.5%	108.50	10172026	114.82	8162026	62
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-8.0%	659.87	10172026	716.91	8162026	62
SCHM	Schwab U.S. Mid-Cap ETF	-7.4%	34.16	10172026	36.87	6302026	109
IVOO	Vanguard S&P Mid-Cap 400 ETF	-7.7%	122.43	10172026	132.68	8162026	62
IJR	iShares Core S&P Small-Cap ETF	-9.7%	135.91	10172026	150.44	8162026	62
VB	Vanguard Small-Cap ETF	-7.8%	284.32	10172026	308.38	8162026	62
IWM	iShares Russell 2000 ETF	-11.4%	270.44	10172026	305.09	8162026	62
SCHA	Schwab U.S. Small-Cap ETF	-11.5%	31.99	10172026	36.13	6302026	109
VTWO	Vanguard Russell 2000 ETF	-11.1%	109.25	10172026	122.90	8162026	62
DFAS	Dimensional U.S. Small Cap ETF	-8.2%	77.58	10172026	84.48	8162026	62
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-8.4%	51.90	10172026	56.64	8162026	62
NUSC	Nuveen ESG Small-Cap ETF	-8.6%	48.70	10172026	53.27	8162026	62
VUG	Vanguard Growth ETF	-5.1%	87.93	10172026	92.64	10062026	11
IWF	iShares Russell 1000 Growth ETF	-6.0%	121.48	10172026	129.19	10062026	11
VONG	Vanguard Russell 1000 Growth ETF	-6.0%	125.04	10172026	133.00	10062026	11
MGK	Vanguard Mega Cap Growth ETF	-5.4%	90.00	10172026	95.11	10062026	11
AKRE	Akre Focus ETF	-7.4%	57.26	10172026	61.85	8302026	48
IWP	iShares Russell Mid-Cap Growth ETF	-9.3%	133.99	10172026	147.70	8172026	61
VOT	Vanguard Mid-Cap Growth ETF	-7.9%	288.72	10172026	313.61	8162026	62
IJK	iShares S&P Mid-Cap 400 Growth ETF	-9.2%	108.13	10172026	119.11	8172026	61
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-9.3%	103.09	10172026	113.69	8172026	61
IWO	iShares Russell 2000 Growth ETF	-14.4%	338.83	10172026	395.65	8162026	62
VBK	Vanguard Small-Cap Growth ETF	-10.7%	326.71	10172026	365.91	8172026	61
IJT	iShares S&P Small-Cap 600 Growth ETF	-11.2%	158.97	10172026	179.07	8042026	74
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-11.2%	106.15	10172026	119.50	8042026	74
IJJ	iShares S&P Mid-Cap 400 Value ETF	-6.8%	141.41	10172026	151.67	8162026	62
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	-6.7%	90.83	10172026	97.39	8162026	62
VBR	Vanguard Small-Cap Value ETF	-5.6%	236.48	10172026	250.56	8162026	62
AVUV	Avantis U.S. Small Cap Value ETF	-6.7%	120.08	10172026	128.74	8042026	74
IWN	iShares Russell 2000 Value ETF	-8.2%	208.75	10172026	227.43	8162026	62
IJS	iShares S&P Small-Cap 600 Value ETF	-8.4%	128.88	10172026	140.68	8162026	62
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-8.4%	102.78	10172026	112.22	8162026	62
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-7.9%	110.78	10172026	120.28	8162026	62
VXUS	Vanguard Total International Stock ETF	-5.6%	83.43	10172026	88.41	9072026	40
VEU	Vanguard FTSE All-World Ex-US ETF	-5.4%	81.54	10172026	86.21	9072026	40
IXUS	iShares Core MSCI Total International Stock ETF	-5.4%	93.41	10172026	98.71	9072026	40
CWI	State Street SPDR MSCI ACWI ex-US ETF	-5.4%	39.64	10172026	41.90	9072026	40
CORO	iShares International Country Rotation Active ETF	-5.4%	35.52	10172026	37.54	9072026	40
VEA	Vanguard FTSE Developed Markets ETF	-5.6%	69.49	10172026	73.61	8252026	53
SCHF	Schwab International Equity ETF	-5.8%	26.93	10172026	28.59	8252026	53
VGK	Vanguard FTSE Europe ETF	-6.1%	87.29	10172026	92.96	8252026	53
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-5.8%	152.11	10172026	161.49	5112026	159
SCHC	Schwab International Small-Cap Equity ETF	-5.8%	48.86	10172026	51.86	8272026	51
IEMG	iShares Core MSCI Emerging Markets ETF	-10.7%	76.79	10172026	86.00	6222026	117
VWO	Vanguard FTSE Emerging Markets ETF	-5.4%	58.03	10172026	61.32	9072026	40
EEM	iShares MSCI Emerging Markets ETF	-11.7%	62.85	10172026	71.21	6222026	117
SPEM	State Street SPDR Portfolio Emerging Markets ETF	-5.1%	50.69	10172026	53.41	9072026	40
SCHE	Schwab Emerging Markets Equity ETF	-5.0%	35.70	10172026	37.58	9072026	40
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-16.6%	31.12	10172026	37.30	6222026	117
EWY	iShares MSCI South Korea ETF	-31.4%	150.44	10172026	219.20	6212026	118
FXI	iShares China Large-Cap ETF	-11.6%	33.84	10172026	38.26	5132026	157
KWEB	KraneShares CSI China Internet ETF	-20.2%	24.41	10172026	30.59	5132026	157
QQQI	NEOS Nasdaq 100 High Income ETF	-5.4%	53.62	10172026	56.66	10062026	11
RYLD	Global X Russell 2000 Covered Call ETF	-6.9%	15.19	10172026	16.31	8272026	51
MTUM	iShares MSCI USA Momentum Factor ETF	-15.1%	293.17	10172026	345.22	6222026	117
SPHQ	Invesco S&P 500 Quality ETF	-6.8%	83.96	10172026	90.10	6302026	109
FNDA	Schwab Fundamental U.S. Small Company ETF	-8.4%	35.28	10172026	38.52	8162026	62
SPMO	Invesco S&P 500 Momentum ETF	-12.8%	140.89	10172026	161.66	6222026	117
VLUE	iShares MSCI USA Value Factor ETF	-6.5%	192.25	10172026	205.51	9072026	40
ARKK	ARK Innovation ETF	-12.0%	81.65	10172026	92.78	10052026	12
URA	Global X Uranium ETF	-39.2%	35.43	10172026	58.26	5062026	164
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-20.7%	33.02	10172026	41.63	5132026	157
ROBO	ROBO Global Robotics & Automation Index ETF	-16.6%	75.30	10172026	90.34	6022026	137
LIT	Global X Lithium & Battery Tech ETF	-30.1%	64.05	10172026	91.62	5112026	159
ICLN	iShares Global Clean Energy ETF	-31.2%	16.33	10172026	23.75	6022026	137
ARKQ	ARK Autonomous Technology & Robotics ETF	-22.0%	112.24	10172026	143.82	5282026	142
ARKW	ARK Next Generation Internet ETF	-7.5%	154.85	10172026	167.33	10062026	11
ARKX	ARK Space & Defense Innovation ETF	-20.8%	29.88	10172026	37.74	5282026	142
NASA	Tema Space Innovators ETF	-50.5%	20.72	10172026	41.89	5272026	143
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-7.1%	20.83	10172026	22.43	10052026	12
AGIX	KraneShares Artificial Intelligence ETF	-12.2%	43.51	10172026	49.56	10062026	11
DRSK	Aptus Defined Risk ETF	-7.3%	27.25	10172026	29.39	6012026	138
PCEF	Invesco CEF Income Composite ETF	-6.3%	19.18	10172026	20.47	8132026	65
YYY	Amplify CEF High Income ETF	-9.5%	10.29	10172026	11.37	8162026	62
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-10.6%	63.75	10172026	71.30	8252026	53
VGT	Vanguard Information Technology ETF	-8.5%	118.83	10172026	129.80	10062026	11
XLK	State Street Technology Select Sector SPDR ETF	-9.2%	183.47	10172026	202.00	10062026	11
XLF	State Street Financial Select Sector SPDR ETF	-5.2%	55.52	10172026	58.56	9032026	44
XLI	State Street Industrial Select Sector SPDR ETF	-10.1%	167.76	10172026	186.51	8162026	62
XLC	State Street Communication Services Select Sector SPDR ETF	-7.1%	110.32	10172026	118.79	4192026	181
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-7.7%	112.46	10172026	121.82	5282026	142
XLU	State Street Utilities Select Sector SPDR ETF	-9.3%	42.21	10172026	46.55	4302026	170
XLB	State Street Materials Select Sector SPDR ETF	-5.1%	50.92	10172026	53.67	8262026	52
IYJ	iShares U.S. Industrials ETF	-7.6%	156.92	10172026	169.86	8042026	74
IYM	iShares U.S. Basic Materials ETF	-6.9%	182.91	10172026	196.45	8252026	53
SMH	VanEck Semiconductor ETF	-19.3%	539.79	10172026	668.91	6222026	117
SOXX	iShares Semiconductor ETF	-24.7%	493.39	10172026	655.01	6222026	117
IBB	iShares Biotechnology ETF	-6.9%	201.99	10172026	216.96	8192026	59
XBI	State Street SPDR S&P Biotech ETF	-14.9%	144.32	10172026	169.55	8192026	59
ITA	iShares U.S. Aerospace & Defense ETF	-17.4%	209.07	10172026	253.22	8162026	62
IGV	iShares Expanded Tech-Software Sector ETF	-7.4%	104.34	10172026	112.67	10112026	6
IYT	iShares U.S. Transportation ETF	-11.1%	80.03	10172026	90.01	7162026	93
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-11.2%	175.86	10172026	198.06	9032026	44
KRE	State Street SPDR S&P Regional Banking ETF	-10.4%	69.81	10172026	77.93	8162026	62
MISL	First Trust Indxx Aerospace & Defense ETF	-16.4%	41.13	10172026	49.19	5282026	142
RING	iShares MSCI Global Gold Miners ETF	-17.6%	76.78	10172026	93.17	8252026	53
SOXQ	Invesco PHLX Semiconductor ETF	-23.9%	87.64	10172026	115.11	6222026	117
IGOV	iShares International Treasury Bond ETF	-5.3%	40.05	10172026	42.27	5102026	160
TLT	iShares 20+ Year Treasury Bond ETF	-7.0%	80.05	10172026	86.10	6292026	110
VGLT	Vanguard Long-Term Treasury ETF	-6.4%	51.39	10172026	54.89	6292026	110
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.4%	24.45	10172026	26.13	6292026	110
TLH	iShares 10-20 Year Treasury Bond ETF	-5.7%	94.09	10172026	99.78	6292026	110
EDV	Vanguard World Funds Extended Duration ETF	-10.8%	57.60	10172026	64.54	6242026	115
VCLT	Vanguard Long-Term Corporate Bond ETF	-6.3%	69.80	10172026	74.47	6292026	110
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-6.5%	20.75	10172026	22.18	6292026	110
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-6.2%	46.48	10172026	49.56	6292026	110
LMUB	iShares Long-Term National Muni Bond ETF	-6.5%	47.31	10172026	50.63	7052026	104
GLD	SPDR Gold Trust	-14.3%	382.01	10172026	445.93	4192026	181
IAU	iShares Gold Trust	-14.2%	78.34	10172026	91.34	4192026	181
GLDM	SPDR Gold MiniShares Trust	-14.1%	82.46	10172026	96.04	4192026	181
SLV	iShares Silver Trust	-35.1%	51.51	10172026	79.35	5132026	157
PPLT	ETFS Physical Platinum Shares	-24.5%	14.75	10172026	19.55	5132026	157
PALL	ETFS Physical Palladium Shares	-29.3%	20.17	10172026	28.51	4192026	181
UNG	United States Natural Gas Fund LP	-12.0%	10.66	10172026	12.12	6042026	135
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	10172026	60.13	5042026	166
VNQ	Vanguard Real Estate ETF	-8.3%	91.76	10172026	100.08	7282026	81
XLRE	State Street Real Estate Select Sector SPDR ETF	-8.4%	42.16	10172026	46.01	7282026	81
SCHH	Schwab U.S. REIT ETF	-9.5%	22.50	10172026	24.86	7262026	83
IYR	iShares U.S. Real Estate ETF	-9.2%	97.39	10172026	107.26	7282026	81
REET	iShares Global REIT ETF	-10.4%	25.88	10172026	28.89	7262026	83
USRT	iShares Core U.S. REIT ETF	-10.9%	62.24	10172026	69.82	7262026	83
IBIT	iShares Bitcoin Trust ETF	-5.8%	46.15	10172026	49.01	9212026	26
FBTC	Fidelity Wise Origin Bitcoin Fund	-5.9%	70.85	10172026	75.31	9212026	26
ETHA	iShares Ethereum Trust ETF	-9.8%	54.51	10172026	60.45	9282026	19

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-10-16

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$21.1B), followed by Bond (+$1.9B), while Crypto (−$535M) and Real Estate (−$312M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$13.8B) and out of Long Treasury (−$3.0B).
Relative to fund size, CNEQ drew the largest inflow (+30.5% of AUM) and EWP the largest outflow (−15.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$7.76B	+0.9%
2	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$3.1B	+0.3%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$2.36B	+1.3%
4	CNEQ	Alger Concentrated Equity ETF	Other	+$1.69B	+30.5%
5	MUB	iShares National Muni Bond ETF	Bond Municipal	+$1.52B	+3.0%
6	ARKK	ARK Innovation ETF	Equity Thematic	+$1.34B	+20.4%
7	SPYV	State Street SPDR Portfolio S&P 500 Value ETF	Equity US Large Value	+$1.16B	+3.1%
8	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$1.15B	+8.5%
9	EMXC	iShares MSCI Emerging Markets ex China ETF	Other	+$1.01B	+4.0%
10	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$995M	+0.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.69B	+30.5%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$423M	+23.9%
3	ARKK	ARK Innovation ETF	Equity Thematic	+$1.34B	+20.4%
4	SCMB	Schwab Municipal Bond ETF	Other	+$657M	+18.2%
5	IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	Other	+$412M	+18.0%
6	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	+$756M	+16.5%
7	DXJ	WisdomTree Japan Hedged Equity Fund	Other	+$939M	+12.5%
8	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$136M	+10.2%
9	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$1.15B	+8.5%
10	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$151M	+7.8%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$3.06B	-6.5%
2	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$1.06B	-1.4%
3	DRAM	Roundhill Memory ETF	Other	-$849M	-4.1%
4	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$794M	-4.6%
5	MBB	iShares MBS ETF	Bond Mortgage Backed	-$658M	-1.9%
6	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$522M	-1.8%
7	XLY	State Street Consumer Discretionary Select Sector SPDR ETF	Equity Broad Sector	-$419M	-1.9%
8	EUFN	iShares MSCI Europe Financials ETF	Other	-$403M	-12.5%
9	XLK	State Street Technology Select Sector SPDR ETF	Equity Broad Sector	-$338M	-0.3%
10	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	-$338M	-0.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	EWP	iShares MSCI Spain ETF	Other	-$309M	-15.2%
2	EUFN	iShares MSCI Europe Financials ETF	Other	-$403M	-12.5%
3	IHI	iShares U.S. Medical Devices ETF	Other	-$319M	-8.8%
4	XSD	State Street SPDR S&P Semiconductor ETF	Other	-$230M	-8.4%
5	ICF	iShares Select U.S. REIT ETF	Other	-$161M	-7.8%
6	EWS	iShares MSCI Singapore ETF	Other	-$88M	-7.8%
7	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$113M	-7.5%
8	IYJ	iShares U.S. Industrials ETF	Equity Broad Sector	-$133M	-6.9%
9	TLTW	iShares 20+ Year Treasury Bond BuyWrite Strategy ETF	Other	-$107M	-6.6%
10	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$3.06B	-6.5%

Asset allocation rotation · Past month

Bond ETFs drew the largest net inflows (+$34.9B), followed by Equity (+$23.2B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$34.8B) and out of Factor Smart Beta (−$14.7B).
Relative to fund size, CNEQ drew the largest inflow (+92.4% of AUM) and MTBA the largest outflow (−34.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$40.63B	+4.6%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$25.95B	+3.2%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.93B	+5.6%
4	MUB	iShares National Muni Bond ETF	Bond Municipal	+$6.78B	+14.1%
5	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.84B	+12.1%
6	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.79B	+33.1%
7	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$5.78B	+5.1%
8	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.23B	+40.3%
9	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$4.98B	+10.2%
10	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$4.12B	+46.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$2.94B	+92.4%
2	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$4.12B	+46.0%
3	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.23B	+40.3%
4	ALAI	Alger AI Enablers & Adopters ETF	Other	+$518M	+38.7%
5	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.79B	+33.1%
6	BLCR	iShares Large Cap Core Active ETF	Other	+$2.92B	+30.8%
7	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$615M	+27.6%
8	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$315M	+27.0%
9	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$1.08B	+26.8%
10	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$948M	+26.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$41.57B	-3.9%
2	SPMO	Invesco S&P 500 Momentum ETF	Equity Factor Smart Beta	-$6.18B	-26.6%
3	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.35B	-26.2%
4	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$4.38B	-5.9%
5	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$3.45B	-0.7%
6	MBB	iShares MBS ETF	Bond Mortgage Backed	-$3.33B	-9.3%
7	SCHA	Schwab U.S. Small-Cap ETF	Equity US Small Cap Core	-$3.21B	-14.7%
8	MOAT	VanEck Morningstar Wide Moat ETF	Equity Factor Smart Beta	-$3.12B	-27.1%
9	VTV	Vanguard Morningstar Value ETF	Equity US Large Value	-$3.06B	-1.6%
10	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$3.02B	-2.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	MTBA	Simplify MBS ETF	Other	-$351M	-34.8%
2	MOAT	VanEck Morningstar Wide Moat ETF	Equity Factor Smart Beta	-$3.12B	-27.1%
3	SPMO	Invesco S&P 500 Momentum ETF	Equity Factor Smart Beta	-$6.18B	-26.6%
4	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.35B	-26.2%
5	EUFN	iShares MSCI Europe Financials ETF	Other	-$699M	-18.5%
6	SCHM	Schwab U.S. Mid-Cap ETF	Equity US Mid Cap Core	-$2.57B	-17.7%
7	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	-$926M	-15.3%
8	IWX	iShares Russell Top 200 Value ETF	Other	-$546M	-14.9%
9	SCHA	Schwab U.S. Small-Cap ETF	Equity US Small Cap Core	-$3.21B	-14.7%
10	IGOV	iShares International Treasury Bond ETF	Bond International	-$178M	-13.6%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$134.5B), followed by Bond (+$65.1B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$31.9B) and out of Industry Subsector (−$5.6B).
Relative to fund size, CNEQ drew the largest inflow (+206.2% of AUM) and FTXL the largest outflow (−70.7%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$28.45B	+2.7%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$18.71B	+11.0%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$17.68B	+16.6%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.88B	+2.4%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.81B	+8.9%
6	GLD	SPDR Gold Shares	Commodity Gold	+$8.05B	+5.6%
7	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$8.02B	+1.0%
8	MUB	iShares National Muni Bond ETF	Bond Municipal	+$8.0B	+17.6%
9	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$7.77B	+7.4%
10	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$7.68B	+4.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$5.06B	+206.2%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$1.34B	+121.2%
3	ARKK	ARK Innovation ETF	Equity Thematic	+$5.12B	+79.8% ⚠
4	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.93B	+79.7%
5	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+74.3%
6	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.31B	+72.8%
7	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.68B	+67.8%
8	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$812M	+55.6%
9	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$864M	+54.8%
10	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.46B	+51.8%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$23.7B	-2.7%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.53B	-26.6%
3	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$5.27B	-16.9%
4	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.16B	-9.9%
5	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$3.1B	-5.6%
6	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.08B	-7.0%
7	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.67B	-6.9%
8	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$2.65B	-9.3%
9	DRAM	Roundhill Memory ETF	Other	-$2.23B	-8.7%
10	EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Other	-$1.74B	-11.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$939M	-70.7%
2	USO	United States Oil Fund, LP	Commodity Energy	-$854M	-44.2%
3	MTBA	Simplify MBS ETF	Other	-$552M	-38.2%
4	TAN	Invesco Solar ETF	Other	-$383M	-36.8%
5	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$582M	-35.1%
6	RSPN	Invesco S&P 500 Equal Weight Industrials ETF	Other	-$325M	-31.8%
7	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$520M	-28.4%
8	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.53B	-26.6%
9	BKAG	BNY Mellon Core Bond ETF	Other	-$583M	-26.0%
10	CTA	Simplify Managed Futures Strategy ETF	Other	-$326M	-21.0%

Largest ETF fund flows across ~2643 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About ITA

Holdings Count: 50
Expense Ratio: 0.37%
Inception Date: 2006-05-01

iShares U.S. Aerospace & Defense ETF
This Exchange Traded Fund (ETF) aims to replicate the investment performance of a specific market index. This benchmark index is made up solely of shares from U.S.-based companies that operate within the aviation and defense industries.
Asset Class: Equity | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
CRGY	Crescent Energy	4.5	10.1%	69.0%
ALOY	REalloys	0.4	8.2%	-23.4%
GRNT	Granite Ridge Resources	0.7	7.1%	23.9%
MTDR	Matador Resources	7.1	7.0%	38.6%
AR	Antero Resources	12.0	6.1%	12.2%
HPK	HighPeak Energy	1.3	6.0%	122.6%
NOG	Northern Oil & Gas	2.9	5.5%	34.1%
SM	SM Energy	9.4	5.3%	115.8%
NEWP	New Pacific Metals	1.2	5.1%	86.9%
BRBR	BellRing Brands	1.1	4.9%	-64.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
RXRX	Recursion Pharmaceuticals	1.8	-16.7%	-15.3%
EOSE	Eos Energy Enterprises	0.6	-15.7%	-84.1%
CYPH	Cypherpunk Technologies	0.5	-14.9%	121.6%
QMCO	Quantum	0.4	-14.5%	186.5%
SHAZ	SharonAI	0.5	-14.3%	-71.3%
GLAS	Glass House Brands	0.3	-14.0%	-64.0%
OMER	Omeros	1.2	-13.8%	-5.7%
KOPN	Kopin	0.6	-13.5%	40.6%
FOXF	Fox Factory	0.7	-13.3%	-6.3%
BLZE	Backblaze	0.5	-13.2%	84.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LQDA	Liquidia	3.1	25.5%	-0.4%
FIGS	FIGS	3.2	21.2%	68.3%
CBRL	Cracker Barrel Old Country Store	1.5	20.5%	178.1%
BH	Biglari	1.4	19.3%	30.6%
BH-A	Biglari	1.3	17.0%	21.0%
BBWI	Bath & Body Works	4.0	16.1%	3.3%
BLMN	Bloomin Brands	0.9	15.7%	61.3%
FICO	Fair Isaac	17.5	15.5%	-54.4%
FIZZ	National Beverage	3.3	14.5%	21.3%
GRNT	Granite Ridge Resources	0.7	14.3%	23.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
CTNM	Contineum Therapeutics	0.3	-47.1%	-38.1%
QMCO	Quantum	0.4	-39.3%	186.5%
NUAI	New Era Energy & Digital	0.3	-33.8%	6.1%
CIFR	Cipher Digital	3.7	-33.6%	-39.2%
BRUN	Boost Run	0.5	-32.5%	-57.6%
BLZE	Backblaze	0.5	-32.2%	84.5%
FMC	FMC	0.7	-32.2%	-58.3%
AAOI	Applied Optoelectronics	6.2	-31.1%	116.8%
INDI	Indie Semiconductor	0.4	-30.0%	-48.4%
SHAZ	SharonAI	0.5	-29.9%	-71.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MYPS	PLAYSTUDIOS	0.5	716.5%	507.4%
KOD	Kodiak Sciences	5.4	161.0%	206.7%
CBRL	Cracker Barrel Old Country Store	1.5	58.2%	178.1%
PCRX	Pacira BioSciences	1.4	48.4%	40.4%
GRAL	GRAIL	5.1	47.4%	37.6%
SG	Sweetgreen	1.2	46.8%	48.5%
FIGS	FIGS	3.2	46.4%	68.3%
PTC	PTC	22.1	43.5%	10.8%
RXO	RXO	4.9	41.9%	126.3%
TTAN	ServiceTitan	7.2	38.2%	-29.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CTVA	Corteva	8.6	-84.2%	-80.7%
EMAT	Evolution Metals & Technologies	1.0	-61.7%	-92.8%
XNDU	Xanadu Quantum Technologies	0.9	-60.3%	-73.6%
GLAS	Glass House Brands	0.3	-60.1%	-64.0%
EOSE	Eos Energy Enterprises	0.6	-54.3%	-84.1%
SHAZ	SharonAI	0.5	-53.1%	-71.3%
QURE	uniQure	1.4	-50.6%	-9.0%
LQDA	Liquidia	3.1	-49.8%	-0.4%
BLSM	BlossomHill Therapeutics	0.4	-48.0%	-12.9%
NKTR	Nektar Therapeutics	1.2	-47.7%	-15.4%

Peer Comparisons

Peers to compare with:

Profile

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	12.0	71.2	45.9	10.8	10.3	4.2	11.4
Expense Ratio	0.37%	0.35%	0.33%	0.44%	0.35%	0.35%	0.35%
10-D Avg Volume (Mil)	0.73	9.54	9.08	1.62	9.05	3.28	6.17
Latest Day Volume (Mil)	-	5.52	5.03	2.46	12.12	2.62	5.03
Holdings Count	50	26	30	243	165	51	50
Inception Date	5/1/2006	12/20/2011	7/10/2001	2/5/2001	1/31/2006	6/19/2006	-

Fundamentals

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
Net Asset Value	206.71	590.52	559.84	206.30	153.72	191.51	-
Premium/Discount	1.1%	-8.6%	-11.9%	-2.1%	-6.1%	4.6%	-4.1%
Distribution Yield	0.0%	0.2%	0.3%	0.2%	0.4%	1.6%	0.3%
Sales Yield	33.0%	8.1%	8.5%	12.1%	9.9%	110.5%	11.0%
Earnings Yield	3.0%	2.8%	2.5%	1.8%	1.5%	7.2%	2.6%

Valuation

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
P/S (TTM)	3.0x	12.4x	11.7x	8.3x	10.1x	0.9x	9.2x
P/E (TTM)	33.6x	36.1x	40.8x	55.8x	68.5x	13.8x	38.4x
P/FCF (TTM)	38.3x	43.4x	47.3x	170.7x	-	17.5x	43.4x
Forward P/E	26.9x	-	-	-	47.4x	9.8x	26.9x
Forward P/S	2.7x	-	-	-	7.9x	0.8x	2.7x

Risk

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
Volatility (1Y)	23.1%	39.5%	45.9%	22.5%	28.8%	28.8%	28.8%
Volatility (3Y)	20.0%	37.2%	40.0%	21.4%	28.2%	28.2%	28.2%
Volatility (5Y)	20.3%	36.8%	38.8%	22.3%	32.4%	32.9%	32.7%
Beta (1Y)	1.03	2.36	2.58	0.80	1.09	-0.48	1.06
Beta (3Y)	0.85	1.98	2.07	0.82	1.05	0.64	0.95
Beta (5Y)	0.81	1.77	1.82	0.86	1.16	0.83	1.01
Sharpe Ratio (1Y)	0.15	1.36	1.41	1.34	1.15	1.81	1.35
Sharpe Ratio (3Y)	1.20	1.34	1.14	0.88	0.98	0.60	1.06
Sharpe Ratio (5Y)	0.79	0.98	0.83	0.36	0.26	0.63	0.71
Max Drawdown (1Y)	-19.6%	-24.6%	-29.0%	-9.6%	-14.9%	-18.5%	-19.0%
Max Drawdown (3Y)	-19.6%	-35.7%	-41.4%	-24.9%	-33.0%	-35.0%	-34.0%
Max Drawdown (5Y)	-19.6%	-45.3%	-45.8%	-35.7%	-53.2%	-35.0%	-40.5%

Returns

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
1M Return	-2.2%	-3.7%	-5.0%	-2.5%	-8.8%	4.0%	-3.1%
3M Return	-8.8%	-3.4%	-5.9%	8.3%	-4.4%	17.8%	-3.9%
6M Return	-9.8%	16.3%	18.7%	14.4%	4.1%	26.1%	15.3%
YTD Return	-2.5%	49.9%	64.0%	19.8%	18.4%	60.1%	34.8%
1Y Return	0.8%	58.4%	72.0%	31.9%	33.6%	61.7%	46.0%
2Y Return	38.2%	111.9%	111.6%	39.3%	46.8%	48.3%	47.6%
3Y Return	93.6%	261.3%	207.8%	64.6%	103.4%	47.1%	98.5%

Short Interest

Short Interest: As Of Date	9302026
Short Interest: Shares Quantity	1.6 Mil
Short Interest: % Change Since 9152026	-1.0%
Average Daily Volume	0.9 Mil
Days-to-Cover Short Interest	1.8 days

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2	SeekingAlpha	ValueLine
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4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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iShares U.S. Aerospace & Defense ETF (ITA)

Market Price (10/18/2026): $208.8

iShares U.S. Aerospace & Defense ETF (ITA)

Market Price (10/18/2026): $208.8

Key Takeaways

Price Chart

Asset Allocation with ITA

Valuation & Yield

Top 20 Holdings for ITA

Performance for ITA Top Holdings

Guidance Updates for ITA Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

ITA Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

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About ITA

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