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

Market Price (10/5/2026): $207.61

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

Market Price (10/5/2026): $207.61

Key Takeaways

ITA has returned -3.1% YTD vs +13.5% for SPY; -0.7% over the past 12 months (SPY +16.0%). details →
Priced in gold, ITA has returned -10.0% over the past 3 years, vs +105.5% in dollars — its dollar gains have lagged gold. details →
Over the past month, ITA has seen net outflows of −$208M (−1.7% of assets). details →
ITA's portfolio trades at 26.1x forward earnings — a 236% premium to SPY (7.8x). details →
ITA's top 10 holdings represent 74% of the fund vs 39% for SPY — a more concentrated portfolio. details →

Last updated: 10/4/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with ITA

Risk Tolerance:

ConservativeModerateAggressive

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

10Y Return (ann.)

+10.9%

Volatility

13.8%

Sharpe

0.62

YTD

-0.8%

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%	-0.1%	-2.8%	-7.0%	-3.1%
Bond	BND	50.0%	-0.2%	-0.6%	-2.3%	-2.7%
Gold	GLD	10.0%	-0.7%	-3.4%	-5.6%	-4.1%
Commodity	DBC	2.5%	-0.6%	-0.2%	1.9%	45.5%
Real Estate	VNQ	5.0%	0.4%	-1.6%	-5.7%	4.0%
Bitcoin	BTCUSD	0.0%	-0.4%	0.6%	9.3%	-3.4%
Cash	GOVT	7.5%	-0.2%	-0.8%	-2.4%	-2.9%
Conservative Portfolio		100.0%	-0.2%	-1.5%	-3.9%	-1.4%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	55.0%	-0.1%	-2.8%	-7.0%	-3.1%
Bond	BND	25.0%	-0.2%	-0.6%	-2.3%	-2.7%
Gold	GLD	7.0%	-0.7%	-3.4%	-5.6%	-4.1%
Commodity	DBC	4.0%	-0.6%	-0.2%	1.9%	45.5%
Real Estate	VNQ	5.0%	0.4%	-1.6%	-5.7%	4.0%
Bitcoin	BTCUSD	2.0%	-0.4%	0.6%	9.3%	-3.4%
Cash	GOVT	2.0%	-0.2%	-0.8%	-2.4%	-2.9%
Moderate Portfolio		100.0%	-0.2%	-2.0%	-4.9%	-0.8%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	80.0%	-0.1%	-2.8%	-7.0%	-3.1%
Bond	BND	5.0%	-0.2%	-0.6%	-2.3%	-2.7%
Gold	GLD	3.0%	-0.7%	-3.4%	-5.6%	-4.1%
Commodity	DBC	2.2%	-0.6%	-0.2%	1.9%	45.5%
Real Estate	VNQ	4.5%	0.4%	-1.6%	-5.7%	4.0%
Bitcoin	BTCUSD	5.2%	-0.4%	0.6%	9.3%	-3.4%
Cash	GOVT	0.0%	-0.2%	-0.8%	-2.4%	-2.9%
Aggressive Portfolio		100.0%	-0.1%	-2.4%	-5.6%	-1.7%

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	25.0%	13.3%	21.6%	0.55
Bond	BND	50.0%	1.1%	5.2%	-0.30
Gold	GLD	10.0%	11.5%	15.4%	0.58
Commodity	DBC	2.5%	8.2%	17.2%	0.39
Real Estate	VNQ	5.0%	4.2%	17.6%	0.15
Bitcoin	BTCUSD	0.0%	64.1%	76.0%	0.96
Cash	GOVT	7.5%	0.2%	4.9%	-0.50
Conservative Portfolio		100.0%	5.8%	8.1%	0.39

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	55.0%	13.3%	21.6%	0.55
Bond	BND	25.0%	1.1%	5.2%	-0.30
Gold	GLD	7.0%	11.5%	15.4%	0.58
Commodity	DBC	4.0%	8.2%	17.2%	0.39
Real Estate	VNQ	5.0%	4.2%	17.6%	0.15
Bitcoin	BTCUSD	2.0%	64.1%	76.0%	0.96
Cash	GOVT	2.0%	0.2%	4.9%	-0.50
Moderate Portfolio		100.0%	10.9%	13.8%	0.62

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	80.0%	13.3%	21.6%	0.55
Bond	BND	5.0%	1.1%	5.2%	-0.30
Gold	GLD	3.0%	11.5%	15.4%	0.58
Commodity	DBC	2.2%	8.2%	17.2%	0.39
Real Estate	VNQ	4.5%	4.2%	17.6%	0.15
Bitcoin	BTCUSD	5.2%	64.1%	76.0%	0.96
Cash	GOVT	0.0%	0.2%	4.9%	-0.50
Aggressive Portfolio		100.0%	15.7%	19.4%	0.71

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	10/5/26	2025	2024	2023	2022	2021
Share Price CYE		$207.79	$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	2.71	3.05	3.34	2.50	2.15	2.13	2.02
P/E		33.07	35.40	29.66	22.95	27.00	20.45
P/E (Non-GAAP) [2]	26.59	31.73	40.03	30.90	35.78	33.86	32.94
P/FCF		35.85	51.75	67.53	36.13	35.28	87.23
Yields TTM
Earnings Yield	3.76%	3.02%	2.83%	3.37%	4.36%	3.70%	4.89%
Dividend Yield	0.15%	0.15%	0.55%	0.85%	0.94%	0.97%	0.85%
Total Yield (TY)	3.91%	3.18%	3.37%	4.22%	5.30%	4.68%	5.74%
Risk Premium [3]
Risk Free Rate (Rf)	5.24%	5.24%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	-1.33%	-2.06%	-0.81%	-0.36%	1.42%	0.80%	4.22%
Growth Rates [6]
Sales Growth	9.7%	7.8%	9.6%	6.3%	13.2%	-4.7%
Earnings Growth [7]		47.9%	21.1%	-10.7%	75.1%	77.3%

[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 3.02%, based on its 33.1x trailing P/E. With a 0.15% dividend yield, ITA is yielding 3.18% in total.

RISK

Compared to US Treasuries at 5.24%, ITA's total yield implies a -2.06% 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 3.91%, implying a -1.33% risk premium assuming stable Treasury rates.

Top 20 Holdings for ITA

Total Weights
Top 5: 53.8% | Top 10: 74.5% | Top 20: 91.3%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.97%	100.00%	100.00%	2.6	26.1	+9.7%	+14.3%
Top 20		91.28%	89.43%	94.14%	2.7	25.8	+9.5%	+13.8%
GE	GE Aerospace	20.91%	9.73%	19.03%	5.9	34.0	+10.9%	+14.6%
RTX	RTX	16.02%	17.77%	16.23%	2.4	23.5	+7.6%	+8.8%
BA	Boeing	7.71%	14.02%	4.01%	1.4	60.0	+14.7%	—
LMT	Lockheed Martin	4.61%	9.03%	8.13%	1.4	15.6	+5.9%	+7.0%
NOC	Northrop Grumman	4.56%	8.52%	9.85%	1.5	15.9	+6.9%	+4.2%
HWM	Howmet Aerospace	4.55%	1.33%	3.01%	8.2	36.6	+13.8%	+19.5%
TDG	TransDigm	4.53%	2.14%	5.04%	5.4	22.2	+7.4%	+15.0%
GD	General Dynamics	4.40%	8.01%	7.23%	1.5	17.8	+4.9%	+9.3%
HONA	Honeywell Aerospace	3.80%	3.96%	6.01%	2.5	17.3	+7.6%	+17.7%
LHX	L3Harris Technologies	3.36%	5.17%	4.63%	1.8	17.7	+7.0%	+14.6%
RKLB	Rocket Lab	3.07%	0.15%	—	35.2	—	+45.3%	—
AXON	Axon Enterprise	2.74%	0.78%	0.53%	7.2	38.5	+29.5%	+42.3%
ATI	ATI	1.92%	1.02%	1.14%	4.7	30.7	+10.0%	+22.5%
CW	Curtiss-Wright	1.52%	0.82%	1.33%	5.0	32.3	+8.3%	+9.9%
CRS	Carpenter Technology	1.50%	0.72%	1.35%	5.4	26.9	+9.5%	+18.3%
WWD	Woodward	1.46%	0.92%	1.33%	4.1	29.5	+9.9%	+15.9%
FTAI	FTAI Aviation	1.36%	0.73%	1.28%	2.8	14.8	+70.1%	+116.8%
HEI-A	Heico	1.31%	0.47%	0.86%	7.0	41.3	+11.2%	+14.0%
TXT	Textron	0.99%	3.34%	2.26%	0.8	10.5	+3.7%	+12.4%
BWXT	BWX Technologies	0.96%	0.81%	0.90%	3.0	26.0	+9.1%	+10.6%

[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 10/4	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
ITA	iShares U.S. Aerospace & Defense ETF	100.00%	207.79	0.0%	-7.9%	-3.1%	-0.7%	105.5%	103.4%	248.1%
GE	GE Aerospace	20.91%	309.56	0.0%	-8.2%	0.8%	4.6%	262.4%	380.4%	142.3%
RTX	RTX	16.02%	184.68	0.0%	-8.0%	1.8%	12.5%	182.6%	131.8%	287.9%
BA	Boeing	7.71%	193.56	0.0%	-8.8%	-10.9%	-10.5%	3.9%	-13.8%	56.5%
LMT	Lockheed Martin	4.61%	505.41	0.0%	-3.8%	6.4%	2.8%	37.8%	66.1%	180.4%
NOC	Northrop Grumman	4.56%	478.00	0.0%	-7.2%	-15.1%	-20.3%	19.6%	40.2%	162.0%
HWM	Howmet Aerospace	4.55%	231.27	0.0%	-10.8%	13.0%	22.5%	411.0%	630.7%	895.6%
TDG	TransDigm	4.53%	1,090.38	0.0%	-6.2%	-18.0%	-15.4%	52.1%	103.3%	511.1%
GD	General Dynamics	4.40%	330.09	0.0%	-8.2%	-0.7%	-2.2%	60.7%	85.0%	164.6%
HONA	Honeywell Aerospace	3.80%	154.63	0.0%	-4.0%
LHX	L3Harris Technologies	3.36%	236.60	0.0%	-7.7%	-18.4%	-19.1%	55.4%	17.6%	209.1%
RKLB	Rocket Lab	3.07%	73.92	0.0%	15.0%	6.0%	31.6%	1,561.1%	406.6%
AXON	Axon Enterprise	2.74%	413.35	0.0%	-19.8%	-27.2%	-42.2%	110.8%	150.1%	1,674.0%
ATI	ATI	1.92%	192.42	0.0%	-8.7%	67.7%	136.7%	385.5%	1,030.6%	960.2%
CW	Curtiss-Wright	1.52%	545.64	0.0%	-3.7%	-0.9%	1.6%	184.9%	325.3%	524.1%
CRS	Carpenter Technology	1.50%	388.47	0.0%	-18.3%	23.6%	57.3%	504.3%	1,128.7%	1,006.4%
WWD	Woodward	1.46%	331.62	0.0%	-4.2%	10.0%	29.1%	168.9%	194.9%	470.4%
FTAI	FTAI Aviation	1.36%	167.03	0.0%	-14.9%	-14.7%	-0.8%	404.5%	826.1%	2,734.4%
HEI-A	Heico	1.31%	224.84	0.0%	-6.4%	-10.8%	-11.0%	76.3%	85.5%	493.9%
TXT	Textron	0.99%	77.26	0.0%	-2.3%	-11.3%	-11.0%	2.6%	10.0%	96.2%
BWXT	BWX Technologies	0.96%	134.86	0.0%	-14.4%	-21.6%	-27.3%	89.9%	150.3%	293.6%

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%	129%
Peers Return	27%	-13%	31%	10%	30%	51%	214%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	104%
Monthly Win Rates [3]
ITA Win Rate	50%	42%	67%	58%	75%	44%
Peers Win Rate	60%	50%	55%	55%	65%	71%
S&P 500 Win Rate	75%	42%	67%	75%	67%	44%
Max Drawdowns [4]
ITA Max Drawdown	-15%	-19%	-13%	-9%	-15%	-18%
Peers Max Drawdown	-22%	-40%	-20%	-21%	-29%	-18%
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 10/2/2026 (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%			-7%	0
4/21/2026	-5%	2%			-7%	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 10/4/2026

ITA had 14 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
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 10/4/2026

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 10/4/2026

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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
DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	-5.8%	511.10	10042026	542.36	8052026	60
IJH	iShares Core S&P Mid-Cap ETF	-6.7%	73.39	10042026	78.67	8162026	49
VO	Vanguard Mid-Cap ETF	-5.4%	79.59	10042026	84.15	8162026	49
IWR	iShares Russell Mid-Cap ETF	-5.7%	108.28	10042026	114.82	8162026	49
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-6.6%	669.66	10042026	716.91	8162026	49
SCHM	Schwab U.S. Mid-Cap ETF	-6.2%	34.57	10042026	36.87	6302026	96
IVOO	Vanguard S&P Mid-Cap 400 ETF	-6.4%	124.25	10042026	132.68	8162026	49
IJR	iShares Core S&P Small-Cap ETF	-7.9%	138.52	10042026	150.44	8162026	49
VB	Vanguard Small-Cap ETF	-6.3%	288.99	10042026	308.38	8162026	49
IWM	iShares Russell 2000 ETF	-7.7%	281.52	10042026	305.09	8162026	49
SCHA	Schwab U.S. Small-Cap ETF	-8.5%	33.05	10042026	36.13	6302026	96
VTWO	Vanguard Russell 2000 ETF	-7.5%	113.70	10042026	122.90	8162026	49
DFAS	Dimensional U.S. Small Cap ETF	-6.8%	78.73	10042026	84.48	8162026	49
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-6.7%	52.85	10042026	56.64	8162026	49
NUSC	Nuveen ESG Small-Cap ETF	-7.4%	49.31	10042026	53.27	8162026	49
AKRE	Akre Focus ETF	-14.0%	53.18	10042026	61.85	8302026	35
VOT	Vanguard Mid-Cap Growth ETF	-5.1%	297.59	10042026	313.61	8162026	49
IJK	iShares S&P Mid-Cap 400 Growth ETF	-6.1%	111.80	10042026	119.11	8172026	48
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-6.2%	106.62	10042026	113.69	8172026	48
IWO	iShares Russell 2000 Growth ETF	-8.8%	360.84	10042026	395.65	8162026	49
VBK	Vanguard Small-Cap Growth ETF	-6.1%	343.72	10042026	365.91	8172026	48
IJT	iShares S&P Small-Cap 600 Growth ETF	-8.7%	163.44	10042026	179.07	8042026	61
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-8.8%	109.02	10042026	119.50	8042026	61
SCHV	Schwab U.S. Large-Cap Value ETF	-5.2%	33.54	10042026	35.37	8162026	49
VOE	Vanguard Mid-Cap Value ETF	-5.7%	197.99	10042026	209.92	8162026	49
IWS	iShares Russell Mid-Cap Value ETF	-6.3%	162.56	10042026	173.44	8162026	49
IJJ	iShares S&P Mid-Cap 400 Value ETF	-7.4%	140.52	10042026	151.67	8162026	49
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	-7.4%	90.22	10042026	97.39	8162026	49
VBR	Vanguard Small-Cap Value ETF	-6.6%	233.98	10042026	250.56	8162026	49
AVUV	Avantis U.S. Small Cap Value ETF	-6.8%	120.03	10042026	128.74	8042026	61
IWN	iShares Russell 2000 Value ETF	-6.6%	212.34	10042026	227.43	8162026	49
IJS	iShares S&P Small-Cap 600 Value ETF	-7.3%	130.39	10042026	140.68	8162026	49
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-7.3%	103.98	10042026	112.22	8162026	49
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-6.9%	112.04	10042026	120.28	8162026	49
EFV	iShares MSCI EAFE Value ETF	-5.5%	78.49	10042026	83.08	9032026	31
AVIV	Avantis International Large Cap Value ETF	-5.3%	79.47	10042026	83.89	8252026	40
VGK	Vanguard FTSE Europe ETF	-7.1%	86.38	10042026	92.96	8252026	40
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-12.8%	32.51	10042026	37.30	6222026	104
EWY	iShares MSCI South Korea ETF	-12.5%	191.88	10042026	219.20	6212026	105
EWZ	iShares MSCI Brazil ETF	-8.5%	38.19	10042026	41.73	4142026	173
FXI	iShares China Large-Cap ETF	-13.3%	33.19	10042026	38.26	5132026	144
ILF	iShares Latin America 40 ETF	-8.2%	34.98	10042026	38.10	4142026	173
KWEB	KraneShares CSI China Internet ETF	-22.0%	23.86	10042026	30.59	5132026	144
SCHD	Schwab US Dividend Equity ETF	-7.1%	32.72	10042026	35.21	8242026	41
VYM	Vanguard High Dividend Yield ETF	-5.8%	156.46	10042026	166.11	8132026	52
DGRO	iShares Core Dividend Growth ETF	-5.3%	75.77	10042026	80.04	8192026	46
DVY	iShares Select Dividend ETF	-7.5%	153.05	10042026	165.50	8162026	49
SDY	State Street SPDR S&P Dividend ETF	-7.3%	147.57	10042026	159.18	8242026	41
NOBL	ProShares S&P 500 Dividend Aristocrats ETF	-8.1%	54.30	10042026	59.07	8242026	41
SCHY	Schwab International Dividend Equity ETF	-7.3%	31.32	10042026	33.78	8252026	40
RSP	Invesco S&P 500 Equal Weight ETF	-5.9%	209.73	10042026	222.77	8162026	49
COWZ	Pacer US Cash Cows 100 ETF	-6.8%	67.50	10042026	72.40	8302026	35
MTUM	iShares MSCI USA Momentum Factor ETF	-6.5%	322.88	10042026	345.22	6222026	104
SPHQ	Invesco S&P 500 Quality ETF	-5.8%	84.86	10042026	90.10	6302026	96
FNDA	Schwab Fundamental U.S. Small Company ETF	-7.4%	35.66	10042026	38.52	8162026	49
SPMO	Invesco S&P 500 Momentum ETF	-5.2%	153.23	10042026	161.66	6222026	104
MOAT	VanEck Morningstar Wide Moat ETF	-7.7%	106.22	10042026	115.14	8272026	38
SPGP	Invesco S&P 500 GARP ETF	-7.5%	119.36	10042026	129.02	8132026	52
QVAL	Alpha Architect U.S. Quantitative Value ETF	-5.7%	58.97	10042026	62.50	8262026	39
URA	Global X Uranium ETF	-31.7%	39.79	10042026	58.26	5062026	151
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-13.5%	36.03	10042026	41.63	5132026	144
ROBO	ROBO Global Robotics & Automation Index ETF	-8.3%	82.82	10042026	90.34	6022026	124
LIT	Global X Lithium & Battery Tech ETF	-24.4%	69.28	10042026	91.62	5112026	146
ICLN	iShares Global Clean Energy ETF	-27.6%	17.19	10042026	23.75	6022026	124
ARKQ	ARK Autonomous Technology & Robotics ETF	-13.4%	124.48	10042026	143.82	5282026	129
ARKX	ARK Space & Defense Innovation ETF	-13.4%	32.68	10042026	37.74	5282026	129
NASA	Tema Space Innovators ETF	-40.3%	25.00	10042026	41.89	5272026	130
DRSK	Aptus Defined Risk ETF	-7.7%	27.13	10042026	29.39	6012026	125
ALLW	SSGA Active Trust State Street Bridgewater All Weather ETF	-6.1%	28.58	10042026	30.44	8252026	40
YYY	Amplify CEF High Income ETF	-9.0%	10.35	10042026	11.37	8162026	49
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-10.1%	64.10	10042026	71.30	8252026	40
RAAX	VanEck Real Assets ETF	-5.6%	40.32	10042026	42.70	5112026	146
XLF	State Street Financial Select Sector SPDR ETF	-8.7%	53.49	10042026	58.56	9032026	31
XLV	State Street Health Care Select Sector SPDR ETF	-5.4%	166.18	10042026	175.68	8192026	46
XLI	State Street Industrial Select Sector SPDR ETF	-8.9%	169.95	10042026	186.51	8162026	49
XLC	State Street Communication Services Select Sector SPDR ETF	-7.1%	110.32	10042026	118.79	4192026	168
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-9.7%	110.04	10042026	121.82	5282026	129
XLP	State Street Consumer Staples Select Sector SPDR ETF	-7.9%	80.53	10042026	87.45	8242026	41
XLU	State Street Utilities Select Sector SPDR ETF	-15.0%	39.83	10042026	46.85	4092026	178
XLB	State Street Materials Select Sector SPDR ETF	-9.0%	48.86	10042026	53.67	8262026	39
VHT	Vanguard Health Care ETF	-5.0%	311.90	10042026	328.48	8192026	46
IYJ	iShares U.S. Industrials ETF	-8.2%	155.97	10042026	169.86	8042026	61
IYM	iShares U.S. Basic Materials ETF	-8.2%	180.26	10042026	196.45	8252026	40
FXN	First Trust Energy AlphaDEX Fund	-7.6%	22.50	10042026	24.35	9152026	19
SMH	VanEck Semiconductor ETF	-5.7%	630.60	10042026	668.91	6222026	104
SOXX	iShares Semiconductor ETF	-10.1%	588.90	10042026	655.01	6222026	104
IBB	iShares Biotechnology ETF	-5.4%	205.29	10042026	216.96	8192026	46
XBI	State Street SPDR S&P Biotech ETF	-8.9%	154.43	10042026	169.55	8192026	46
ITA	iShares U.S. Aerospace & Defense ETF	-17.9%	207.79	10042026	253.22	8162026	49
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-7.4%	184.93	10042026	199.70	9152026	19
IYT	iShares U.S. Transportation ETF	-10.9%	80.20	10042026	90.01	7162026	80
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-11.2%	175.89	10042026	198.06	9032026	31
IHF	iShares U.S. Healthcare Providers ETF	-5.2%	55.09	10042026	58.11	7282026	68
KRE	State Street SPDR S&P Regional Banking ETF	-9.2%	70.78	10042026	77.93	8162026	49
MISL	First Trust Indxx Aerospace & Defense ETF	-14.5%	42.04	10042026	49.19	5282026	129
RING	iShares MSCI Global Gold Miners ETF	-17.7%	76.69	10042026	93.17	8252026	40
SOXQ	Invesco PHLX Semiconductor ETF	-10.2%	103.41	10042026	115.11	6222026	104
IGOV	iShares International Treasury Bond ETF	-5.8%	39.81	10042026	42.27	5102026	147
BOND	PIMCO Active Bond Exchange-Traded Fund	-5.3%	86.54	10042026	91.42	6292026	97
IEF	iShares 7-10 Year Treasury Bond ETF	-5.3%	89.05	10042026	93.99	4192026	168
LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	-5.6%	101.83	10042026	107.93	6292026	97
TLT	iShares 20+ Year Treasury Bond ETF	-10.0%	77.48	10042026	86.10	6292026	97
VGLT	Vanguard Long-Term Treasury ETF	-9.1%	49.92	10042026	54.89	6292026	97
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-9.1%	23.75	10042026	26.13	6292026	97
TLH	iShares 10-20 Year Treasury Bond ETF	-8.1%	91.73	10042026	99.78	6292026	97
EDV	Vanguard World Funds Extended Duration ETF	-15.3%	54.64	10042026	64.54	6242026	102
VCLT	Vanguard Long-Term Corporate Bond ETF	-8.4%	68.21	10042026	74.47	6292026	97
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-8.5%	20.30	10042026	22.18	6292026	97
IGLB	iShares 10+ Year Investment Grade Corporate Bond ETF	-8.3%	45.46	10042026	49.56	6292026	97
MUB	iShares National Muni Bond ETF	-5.4%	100.96	10042026	106.69	7062026	90
VTEB	Vanguard Tax-Exempt Bond Index Fund	-5.7%	47.25	10042026	50.10	7062026	90
TFI	State Street SPDR Nuveen ICE Municipal Bond ETF	-5.7%	42.72	10042026	45.31	7052026	91
ITM	VanEck Intermediate Muni ETF	-5.4%	44.15	10042026	46.65	7062026	90
LMUB	iShares Long-Term National Muni Bond ETF	-8.4%	46.36	10042026	50.63	7052026	91
GLD	SPDR Gold Trust	-14.8%	380.14	10042026	445.93	4192026	168
IAU	iShares Gold Trust	-14.7%	77.95	10042026	91.34	4192026	168
GLDM	SPDR Gold MiniShares Trust	-14.6%	82.05	10042026	96.04	4192026	168
SLV	iShares Silver Trust	-31.0%	54.74	10042026	79.35	5132026	144
PPLT	ETFS Physical Platinum Shares	-21.1%	15.43	10042026	19.55	5132026	144
PALL	ETFS Physical Palladium Shares	-26.5%	21.25	10042026	28.89	4142026	173
USO	United States Oil Fund LP	-9.0%	147.37	10042026	161.86	9152026	19
UNG	United States Natural Gas Fund LP	-13.6%	10.47	10042026	12.12	6042026	122
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	10042026	60.13	5042026	153
VNQ	Vanguard Real Estate ETF	-10.6%	89.50	10042026	100.08	7282026	68
XLRE	State Street Real Estate Select Sector SPDR ETF	-11.3%	40.81	10042026	46.01	7282026	68
SCHH	Schwab U.S. REIT ETF	-11.7%	21.95	10042026	24.86	7262026	70
IYR	iShares U.S. Real Estate ETF	-11.6%	94.77	10042026	107.26	7282026	68
REET	iShares Global REIT ETF	-11.2%	25.64	10042026	28.89	7262026	70
USRT	iShares Core U.S. REIT ETF	-11.9%	61.52	10042026	69.82	7262026	70

ETF Fund Flows

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

Net fund flows · as of 2026-10-02

Asset allocation rotation · Past week

Bond ETFs drew the largest net inflows (+$12.2B), followed by Cash (+$6.5B), while Real Estate (−$39M) saw the largest outflows.
Within the mix, money rotated into Municipal (+$5.7B) and out of Industry Subsector (−$2.3B).
Relative to fund size, FTXN drew the largest inflow (+12.9% of AUM) and FV the largest outflow (−22.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$5.82B	+0.6%
2	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$3.37B	+7.0%
3	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	+$2.76B	+5.5%
4	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	+$2.2B	+9.5%
5	MUB	iShares National Muni Bond ETF	Bond Municipal	+$2.16B	+4.6%
6	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	+$1.99B	+11.7%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$1.68B	+3.6%
8	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$1.53B	+0.9%
9	XLU	State Street Utilities Select Sector SPDR ETF	Equity Broad Sector	+$1.27B	+5.8%
10	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$1.2B	+1.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXN	First Trust Nasdaq Oil & Gas ETF	Other	+$130M	+12.9% ⚠
2	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$442M	+12.9%
3	TGRW	T. Rowe Price Growth Stock ETF	Other	+$125M	+12.0%
4	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	+$1.99B	+11.7%
5	FLGV	Franklin U.S. Treasury Bond ETF	Other	+$119M	+11.3%
6	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$193M	+10.0%
7	EVLN	Eaton Vance Floating-Rate ETF	Other	+$152M	+9.9%
8	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	+$2.2B	+9.5%
9	TBLL	Invesco Short Term Treasury ETF	Other	+$275M	+9.5%
10	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$185M	+8.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$5.61B	-0.7%
2	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$1.85B	-3.9%
3	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.47B	-2.9%
4	MBB	iShares MBS ETF	Bond Mortgage Backed	-$942M	-2.6%
5	BSV	Vanguard Short-Term Bond ETF	Other	-$941M	-2.1%
6	IEMG	iShares Core MSCI Emerging Markets ETF	Equity Emerging Markets	-$887M	-0.6%
7	FV	First Trust Dorsey Wright Focus 5 ETF	Other	-$873M	-22.8%
8	PBUS	Invesco MSCI USA ETF	Other	-$766M	-6.7%
9	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	-$758M	-18.6%
10	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	-$722M	-11.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	FV	First Trust Dorsey Wright Focus 5 ETF	Other	-$873M	-22.8%
2	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	-$758M	-18.6%
3	MTBA	Simplify MBS ETF	Other	-$190M	-17.9%
4	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$492M	-13.6%
5	USO	United States Oil Fund, LP	Commodity Energy	-$209M	-12.4%
6	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	-$722M	-11.5%
7	TDVG	T. Rowe Price Dividend Growth ETF	Other	-$129M	-9.1%
8	FUTY	Fidelity MSCI Utilities Index ETF	Other	-$176M	-8.9%
9	VCLT	Vanguard Long-Term Corporate Bond ETF	Bond Long Corporate	-$643M	-7.8%
10	PPA	Invesco Aerospace & Defense ETF	Other	-$532M	-7.0%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$38.4B), followed by Bond (+$24.7B), with every major asset class in net inflows.
Within the mix, money rotated into Municipal (+$9.0B) and out of Factor Smart Beta (−$4.9B).
Relative to fund size, CORO drew the largest inflow (+56.3% of AUM) and BKAG the largest outflow (−35.4%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$18.79B	+2.2%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$8.61B	+5.0%
3	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$5.73B	+13.0%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$5.63B	+5.1%
5	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$5.62B	+0.8%
6	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.46B	+43.5%
7	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$5.12B	+11.0%
8	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.81B	+56.3%
9	MUB	iShares National Muni Bond ETF	Bond Municipal	+$4.06B	+8.9%
10	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	+$3.89B	+8.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.81B	+56.3%
2	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$5.46B	+43.5%
3	BLCR	iShares Large Cap Core Active ETF	Other	+$2.7B	+39.4%
4	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.25B	+39.4%
5	GGOV	iShares Global Government Bond USD Hedged Active ETF	Bond International	+$992M	+31.9%
6	ARKK	ARK Innovation ETF	Equity Thematic	+$2.17B	+27.0%
7	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$441M	+26.4%
8	MAGS	Roundhill Magnificent Seven ETF	Equity US Large Concentrated	+$1.14B	+23.5%
9	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$391M	+22.6%
10	XTEN	BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	Other	+$243M	+22.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$22.02B	-2.1%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.24B	-21.8%
3	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.67B	-6.9%
4	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$2.17B	-8.0%
5	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.96B	-0.4%
6	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$1.96B	-7.0%
7	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	-$1.84B	-6.9%
8	EFG	iShares MSCI EAFE Growth ETF	Other	-$1.36B	-8.3%
9	DRAM	Roundhill Memory ETF	Other	-$1.32B	-5.0%
10	EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	Other	-$1.16B	-8.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	BKAG	BNY Mellon Core Bond ETF	Other	-$859M	-35.4%
2	MTBA	Simplify MBS ETF	Other	-$384M	-29.9%
3	SCMB	Schwab Municipal Bond ETF	Other	-$900M	-27.3%
4	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$5.24B	-21.8%
5	QTEC	First Trust NASDAQ-100-Technology Sector Index Fund	Other	-$905M	-19.7%
6	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$571M	-15.0%
7	IGOV	iShares International Treasury Bond ETF	Bond International	-$196M	-14.8%
8	IYZ	iShares U.S. Telecommunications ETF	Other	-$162M	-14.7%
9	CTA	Simplify Managed Futures Strategy ETF	Other	-$217M	-14.7%
10	SBIL	Simplify Government Money Market ETF	Other	-$643M	-14.1%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$128.0B), followed by Bond (+$61.8B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$25.0B) and out of Intermediate Treasury (−$3.9B).
Relative to fund size, CNEQ drew the largest inflow (+152.8% of AUM) and FTXL the largest outflow (−71.7%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$23.87B	+2.3%
2	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$16.65B	+16.0%
3	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$16.26B	+9.6%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$15.62B	+2.3%
5	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.97B	+9.2%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$9.82B	+21.4%
7	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$9.6B	+1.2%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$8.02B	+7.7%
9	GLD	SPDR Gold Shares	Commodity Gold	+$7.64B	+5.3%
10	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$7.49B	+17.2%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$2.4B	+152.8%
2	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.25B	+85.5% ⚠
3	BFLX	iShares Flexible Equity Active ETF	Other	+$1.42B	+83.6%
4	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.24B	+77.6%
5	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.6B	+70.1%
6	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.34B	+64.4%
7	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$827M	+60.8%
8	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$808M	+55.1%
9	XAGG	Morgan Stanley ETF Trust - Eaton Vance Strategic Income Opportunities ETF	Other	+$715M	+50.5%
10	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.13B	+49.7%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$25.22B	-2.9%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.9B	-27.8%
3	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$5.97B	-18.2%
4	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$3.28B	-7.6%
5	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.02B	-5.2%
6	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.82B	-6.4%
7	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.78B	-3.2%
8	IWF	iShares Russell 1000 Growth ETF	Equity US Large Growth	-$1.61B	-1.3%
9	XLE	State Street Energy Select Sector SPDR ETF	Equity Broad Sector	-$1.56B	-3.9%
10	SCZ	iShares MSCI EAFE Small-Cap ETF	Equity International Small Cap	-$1.55B	-11.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$954M	-71.7%
2	USO	United States Oil Fund, LP	Commodity Energy	-$1.06B	-51.8%
3	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$648M	-35.9%
4	TAN	Invesco Solar ETF	Other	-$439M	-33.7%
5	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$1.4B	-32.7%
6	MTBA	Simplify MBS ETF	Other	-$466M	-31.7%
7	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$561M	-28.8%
8	RSPN	Invesco S&P 500 Equal Weight Industrials ETF	Other	-$297M	-27.9%
9	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.9B	-27.8%
10	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$336M	-27.1%

Largest ETF fund flows across ~2638 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: 2006-04-30

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
MXL	MaxLinear	9.5	15.0%	507.7%
SYNA	Synaptics	4.7	14.1%	63.6%
WOLF	Wolfspeed	1.4	13.2%	102.6%
WNC	Wabash National	0.6	12.7%	66.3%
AZTA	Azenta	1.8	12.4%	16.5%
PENG	Penguin Solutions	3.1	11.6%	213.7%
FCEL	FuelCell Energy	1.3	11.5%	152.7%
VSH	Vishay Intertechnology	5.2	11.4%	166.3%
IBRX	ImmunityBio	10.8	10.8%	419.4%
MTRN	Materion	6.5	9.5%	151.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
IART	Integra Lifesciences	1.0	-21.2%	2.1%
WDC	Western Digital	145.8	-10.2%	141.3%
STX	Seagate Technology	191.0	-10.2%	209.3%
EVCM	EverCommerce	1.6	-9.6%	-26.2%
TH	Target Hospitality	1.9	-8.0%	135.2%
GEMI	Gemini Space Station	0.6	-7.9%	-52.9%
UCTT	Ultra Clean	3.3	-7.6%	187.0%
NUVB	Nuvation Bio	1.8	-7.6%	-42.6%
EPRX	Eupraxia Pharmaceuticals	0.5	-7.5%	-4.1%
NKTR	Nektar Therapeutics	1.4	-7.3%	3.1%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
KOD	Kodiak Sciences	5.9	192.0%	237.8%
PACB	Pacific Biosciences of California	0.8	56.8%	35.8%
IOVA	Iovance Biotherapeutics	6.4	29.2%	420.7%
WOLF	Wolfspeed	1.4	28.0%	102.6%
LIND	Lindblad Expeditions	2.3	22.2%	141.2%
IBRX	ImmunityBio	10.8	21.9%	419.4%
ACLS	Axcelis Technologies	4.6	20.0%	83.9%
RXO	RXO	4.0	18.1%	85.0%
SYNA	Synaptics	4.7	17.9%	63.6%
MTRN	Materion	6.5	17.8%	151.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LQDA	Liquidia	2.5	-58.1%	-17.0%
QURE	uniQure	1.6	-38.6%	-2.0%
EMAT	Evolution Metals & Technologies	1.3	-36.3%	-90.4%
OCUL	Ocular Therapeutix	1.6	-27.9%	-42.7%
CYPH	Cypherpunk Technologies	0.6	-26.5%	161.2%
NKTR	Nektar Therapeutics	1.4	-23.6%	3.1%
FICO	Fair Isaac	15.0	-23.4%	-60.9%
IART	Integra Lifesciences	1.0	-21.3%	2.1%
BXBL	BOXABL	9.7	-19.9%	-67.1%
EVEX	Eve	0.6	-19.8%	-56.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
KOD	Kodiak Sciences	5.9	151.9%	237.8%
SECZ	Securitize	1.9	99.5%	5.6%
PACB	Pacific Biosciences of California	0.8	92.4%	35.8%
CYPH	Cypherpunk Technologies	0.6	80.4%	161.2%
GRAL	GRAIL	6.2	77.8%	67.4%
MXL	MaxLinear	9.5	76.3%	507.7%
DNA	Ginkgo Bioworks	0.8	75.7%	48.6%
VICR	Vicor	14.2	70.1%	181.8%
IOVA	Iovance Biotherapeutics	6.4	64.9%	420.7%
COHU	Cohu	3.5	60.6%	215.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CTVA	Corteva	8.0	-86.8%	-82.1%
LQDA	Liquidia	2.5	-58.9%	-17.0%
XNDU	Xanadu Quantum Technologies	1.3	-56.7%	-62.6%
QURE	uniQure	1.6	-49.3%	-2.0%
METC	Ramaco Resources	0.5	-43.8%	-55.0%
RARE	Ultragenyx Pharmaceutical	1.6	-42.6%	-33.8%
ALHC	Alignment Healthcare	1.6	-41.6%	-59.8%
EMAT	Evolution Metals & Technologies	1.3	-40.4%	-90.4%
NKTR	Nektar Therapeutics	1.4	-40.1%	3.1%
FICO	Fair Isaac	15.0	-39.9%	-60.9%

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)	12.5	74.6	48.2	10.7	10.2	4.0	11.6
Expense Ratio	0.37%	0.35%	0.33%	0.44%	0.35%	0.35%	0.35%
10-D Avg Volume (Mil)	0.74	9.90	9.37	1.55	8.87	3.39	6.13
Latest Day Volume (Mil)	-	7.33	6.88	2.09	8.73	2.26	6.88
Holdings Count	50	26	30	243	165	51	50
Inception Date	4/30/2006	12/20/2011	7/9/2001	2/4/2001	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	212.52	606.67	565.86	209.30	154.93	181.48	-
Premium/Discount	-2.2%	3.9%	4.1%	-1.9%	-0.3%	1.9%	0.8%
Distribution Yield	0.0%	0.2%	0.2%	0.2%	0.4%	1.7%	0.2%
Sales Yield	33.8%	6.8%	7.1%	12.3%	9.5%	114.3%	10.9%
Earnings Yield	3.1%	2.2%	1.9%	1.8%	1.4%	7.8%	2.1%

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	14.6x	14.0x	8.1x	10.5x	0.9x	9.3x
P/E (TTM)	32.6x	44.5x	53.6x	54.4x	72.0x	12.9x	49.0x
P/FCF (TTM)	36.4x	53.6x	62.4x	115.0x	-	15.8x	53.6x
Forward P/E	26.1x	-	-	-	43.4x	9.6x	26.1x
Forward P/S	2.6x	-	-	-	8.1x	0.8x	2.6x

Risk

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
Volatility (1Y)	23.2%	39.9%	46.3%	21.8%	28.2%	29.2%	28.7%
Volatility (3Y)	20.2%	37.0%	39.7%	21.1%	28.0%	28.3%	28.2%
Volatility (5Y)	20.3%	36.8%	38.7%	22.3%	32.4%	33.0%	32.7%
Beta (1Y)	1.03	2.37	2.60	0.78	1.06	-0.32	1.04
Beta (3Y)	0.85	1.98	2.06	0.82	1.04	0.65	0.95
Beta (5Y)	0.81	1.76	1.82	0.86	1.16	0.82	1.01
Sharpe Ratio (1Y)	0.09	1.80	1.87	1.60	1.65	1.29	1.62
Sharpe Ratio (3Y)	1.24	1.54	1.33	0.92	1.02	0.47	1.13
Sharpe Ratio (5Y)	0.81	1.03	0.89	0.29	0.27	0.66	0.73
Max Drawdown (1Y)	-18.2%	-24.6%	-29.0%	-9.6%	-10.5%	-18.5%	-18.3%
Max Drawdown (3Y)	-18.2%	-35.7%	-41.4%	-24.9%	-33.0%	-35.0%	-34.0%
Max Drawdown (5Y)	-18.7%	-45.3%	-45.8%	-37.8%	-53.2%	-35.0%	-41.6%

Returns

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
1M Return	-7.0%	14.6%	17.4%	-4.0%	-6.6%	-4.3%	-4.1%
3M Return	-17.1%	4.4%	1.3%	5.1%	-4.0%	20.1%	2.8%
6M Return	-6.3%	60.7%	73.5%	21.2%	19.8%	4.6%	20.5%
YTD Return	-3.1%	75.1%	95.8%	21.7%	26.7%	47.8%	37.2%
1Y Return	-0.6%	89.6%	113.7%	38.5%	52.8%	39.7%	46.3%
2Y Return	41.4%	156.5%	155.6%	42.2%	57.5%	46.9%	52.2%
3Y Return	99.2%	350.2%	287.6%	67.9%	109.8%	31.9%	104.5%

Short Interest

Short Interest: As Of Date	9152026
Short Interest: Shares Quantity	1.6 Mil
Short Interest: % Change Since 8312026	27.3%
Average Daily Volume	0.8 Mil
Days-to-Cover Short Interest	2.0 days

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

Market Price (10/5/2026): $207.61

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

Market Price (10/5/2026): $207.61

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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Trade & Investment Ideas

Wealth

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About ITA

Latest Trefis Analyses

Recent Active Movers

Top Gainers

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Top Gainers

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Top Gainers

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