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

Market Price (10/28/2026): $206.44

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

Market Price (10/28/2026): $206.44

Key Takeaways

ITA has returned -3.8% YTD vs +13.5% for SPY; -5.7% over the past 12 months (SPY +13.3%). details →
Priced in gold, ITA has returned -3.2% over the past 3 years, vs +96.1% in dollars — its dollar gains have lagged gold. details →
Over the past month, ITA has seen net outflows of −$54M (−0.4% of assets). details →
ITA's portfolio trades at 26.1x forward earnings — a 246% premium to SPY (7.5x). details →
ITA's top 10 holdings represent 77% of the fund vs 38% for SPY — a more concentrated portfolio. details →

Last updated: 10/27/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with ITA

Risk Tolerance:

ConservativeModerateAggressive

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

10Y Return (ann.)

+11.5%

Volatility

13.9%

Sharpe

0.65

YTD

-0.5%

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%	-0.5%	0.0%	-1.5%	-3.8%
Bond	BND	50.0%	0.1%	0.8%	1.8%	-0.8%
Gold	GLD	10.0%	1.2%	-1.4%	-1.5%	-6.1%
Commodity	DBC	2.5%	-0.5%	0.1%	3.4%	50.3%
Real Estate	VNQ	5.0%	-0.8%	0.1%	2.0%	7.4%
Bitcoin	BTCUSD	0.0%	0.3%	-3.3%	-3.9%	-8.3%
Cash	GOVT	7.5%	-0.0%	0.7%	1.4%	-1.1%
Conservative Portfolio		100.0%	-0.0%	0.3%	0.7%	-0.4%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	55.0%	-0.5%	0.0%	-1.5%	-3.8%
Bond	BND	25.0%	0.1%	0.8%	1.8%	-0.8%
Gold	GLD	7.0%	1.2%	-1.4%	-1.5%	-6.1%
Commodity	DBC	4.0%	-0.5%	0.1%	3.4%	50.3%
Real Estate	VNQ	5.0%	-0.8%	0.1%	2.0%	7.4%
Bitcoin	BTCUSD	2.0%	0.3%	-3.3%	-3.9%	-8.3%
Cash	GOVT	2.0%	-0.0%	0.7%	1.4%	-1.1%
Moderate Portfolio		100.0%	-0.2%	0.1%	-0.3%	-0.5%

	ETF	%	1D	1W	1M	YTD
Equity	ITA	80.0%	-0.5%	0.0%	-1.5%	-3.8%
Bond	BND	5.0%	0.1%	0.8%	1.8%	-0.8%
Gold	GLD	3.0%	1.2%	-1.4%	-1.5%	-6.1%
Commodity	DBC	2.2%	-0.5%	0.1%	3.4%	50.3%
Real Estate	VNQ	4.5%	-0.8%	0.1%	2.0%	7.4%
Bitcoin	BTCUSD	5.2%	0.3%	-3.3%	-3.9%	-8.3%
Cash	GOVT	0.0%	-0.0%	0.7%	1.4%	-1.1%
Aggressive Portfolio		100.0%	-0.4%	-0.1%	-1.2%	-2.2%

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	25.0%	13.4%	21.7%	0.57
Bond	BND	50.0%	1.4%	5.3%	-0.26
Gold	GLD	10.0%	12.0%	15.4%	0.64
Commodity	DBC	2.5%	8.2%	17.3%	0.36
Real Estate	VNQ	5.0%	5.2%	17.6%	0.20
Bitcoin	BTCUSD	0.0%	62.1%	76.4%	0.96
Cash	GOVT	7.5%	0.4%	5.0%	-0.46
Conservative Portfolio		100.0%	6.2%	8.1%	0.44

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	55.0%	13.4%	21.7%	0.57
Bond	BND	25.0%	1.4%	5.3%	-0.26
Gold	GLD	7.0%	12.0%	15.4%	0.64
Commodity	DBC	4.0%	8.2%	17.3%	0.36
Real Estate	VNQ	5.0%	5.2%	17.6%	0.20
Bitcoin	BTCUSD	2.0%	62.1%	76.4%	0.96
Cash	GOVT	2.0%	0.4%	5.0%	-0.46
Moderate Portfolio		100.0%	11.5%	13.9%	0.65

	ETF	%	Return	Volatility	Sharpe
Equity	ITA	80.0%	13.4%	21.7%	0.57
Bond	BND	5.0%	1.4%	5.3%	-0.26
Gold	GLD	3.0%	12.0%	15.4%	0.64
Commodity	DBC	2.2%	8.2%	17.3%	0.36
Real Estate	VNQ	4.5%	5.2%	17.6%	0.20
Bitcoin	BTCUSD	5.2%	62.1%	76.4%	0.96
Cash	GOVT	0.0%	0.4%	5.0%	-0.46
Aggressive Portfolio		100.0%	16.3%	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	10/28/26	2025	2024	2023	2022	2021
Share Price CYE		$206.22	$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	2.64	3.02	3.30	2.62	2.15	2.10	2.02
P/E		27.99	37.26	29.75	23.07	26.93	20.44
P/E (Non-GAAP) [2]	26.44	31.18	40.03	30.91	35.81	33.85	32.97
P/FCF		37.35	45.57	98.90	37.54	30.26	51.57
Yields TTM
Earnings Yield	3.78%	3.57%	2.68%	3.36%	4.33%	3.71%	4.89%
Dividend Yield	0.15%	0.15%	0.55%	0.85%	0.94%	0.97%	0.85%
Total Yield (TY)	3.93%	3.73%	3.23%	4.21%	5.28%	4.69%	5.74%
Risk Premium [3]
Risk Free Rate (Rf)	5.00%	5.00%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	-1.07%	-1.27%	-0.95%	-0.37%	1.40%	0.81%	4.22%
Growth Rates [6]
Sales Growth	10.1%	7.9%	13.1%	3.9%	12.4%	-3.4%
Earnings Growth [7]		25.9%	99.5%	-27.5%	52.9%	50.7%

[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 3.57%, based on its 28.0x trailing P/E. With a 0.15% dividend yield, ITA is yielding 3.73% in total.

RISK

Compared to US Treasuries at 5.00%, ITA's total yield implies a -1.27% 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 3.93%, implying a -1.07% risk premium assuming stable Treasury rates.

Top 20 Holdings for ITA

Total Weights
Top 5: 55.3% | Top 10: 76.6% | Top 20: 91.9%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.94%	100.00%	100.00%	2.6	26.1	+10.0%	+12.3%
Top 20		91.86%	89.24%	93.97%	2.7	26.1	+9.9%	+11.7%
GE	GE Aerospace	19.64%	10.09%	19.13%	5.4	31.6	+11.7%	+12.5%
RTX	RTX	17.06%	17.89%	17.15%	2.6	24.4	+8.1%	+4.7%
BA	Boeing	7.77%	14.30%	4.06%	1.4	63.6	+15.1%	—
LMT	Lockheed Martin	5.59%	8.81%	7.94%	1.7	19.5	+6.8%	+7.5%
NOC	Northrop Grumman	5.19%	8.21%	9.33%	1.7	18.9	+6.4%	-0.2%
GD	General Dynamics	4.81%	7.97%	7.14%	1.7	19.2	+4.9%	+9.3%
TDG	TransDigm	4.76%	2.14%	4.99%	5.5	23.0	+7.2%	+14.5%
HONA	Honeywell Aerospace	4.12%	3.87%	5.84%	2.7	20.0	+7.9%	+9.8%
HWM	Howmet Aerospace	3.88%	1.33%	2.98%	6.9	30.7	+14.4%	+19.7%
LHX	L3Harris Technologies	3.76%	5.20%	4.61%	1.9	19.8	+7.4%	+10.3%
AXON	Axon Enterprise	2.72%	0.75%	0.51%	7.4	39.8	+29.5%	+41.9%
RKLB	Rocket Lab	2.30%	0.15%	—	26.1	—	+42.3%	—
ATI	ATI	1.70%	1.04%	1.15%	4.0	25.8	+10.2%	+23.3%
WWD	Woodward	1.43%	0.96%	1.38%	3.8	27.5	+9.9%	+18.1%
CW	Curtiss-Wright	1.37%	0.83%	1.34%	4.3	28.3	+8.2%	+9.0%
HEI-A	Heico	1.36%	0.47%	0.85%	7.2	42.0	+11.1%	+15.4%
FTAI	FTAI Aviation	1.26%	0.71%	1.24%	2.7	13.4	+68.1%	+129.4%
CRS	Carpenter Technology	1.12%	0.72%	1.42%	4.0	20.0	+9.9%	+19.0%
TXT	Textron	1.05%	3.46%	2.32%	0.8	10.7	+3.8%	+13.4%
HEI	Heico	0.97%	0.34%	0.60%	7.2	42.0	+11.1%	+15.4%

[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 10/27	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
ITA	iShares U.S. Aerospace & Defense ETF	100.00%	206.22	-0.5%	-3.5%	-3.8%	-5.7%	96.1%	105.3%	243.1%
GE	GE Aerospace	19.64%	297.66	3.2%	-8.9%	-3.0%	-4.3%	256.7%	361.1%	133.8%
RTX	RTX	17.06%	194.60	-1.5%	2.7%	7.3%	10.2%	161.0%	142.9%	309.7%
BA	Boeing	7.77%	168.18	-10.7%	-15.1%	-22.5%	-24.6%	-6.4%	-19.1%	27.8%
LMT	Lockheed Martin	5.59%	622.99	-1.9%	19.9%	31.1%	31.3%	52.2%	114.9%	227.1%
NOC	Northrop Grumman	5.19%	551.23	-2.5%	8.0%	-2.1%	-6.0%	22.5%	66.7%	183.4%
GD	General Dynamics	4.81%	354.89	-0.6%	5.9%	7.3%	2.1%	57.9%	94.3%	190.9%
TDG	TransDigm	4.76%	1,130.23	0.0%	1.3%	-15.0%	-16.6%	61.4%	116.4%	509.0%
HONA	Honeywell Aerospace	4.12%	167.90	-0.4%	5.7%
HWM	Howmet Aerospace	3.88%	191.99	-1.2%	-17.4%	-6.2%	-4.7%	349.2%	555.8%	825.8%
LHX	L3Harris Technologies	3.76%	259.40	-0.3%	9.1%	-10.5%	-9.4%	60.8%	27.9%	249.8%
AXON	Axon Enterprise	2.72%	425.87	0.3%	-1.0%	-25.0%	-43.1%	112.1%	143.9%	1,795.3%
RKLB	Rocket Lab	2.30%	58.31	8.3%	-21.1%	-16.4%	-11.1%	1,301.7%	336.1%
ATI	ATI	1.70%	166.14	1.0%	-10.4%	44.8%	81.2%	342.0%	892.5%	1,120.7%
WWD	Woodward	1.43%	304.00	-0.5%	-8.0%	0.8%	14.5%	158.4%	179.3%	453.7%
CW	Curtiss-Wright	1.37%	476.94	0.1%	-11.6%	-13.4%	-16.7%	145.4%	275.9%	457.5%
HEI-A	Heico	1.36%	234.52	0.2%	1.1%	-7.0%	-4.8%	86.4%	85.9%	520.1%
FTAI	FTAI Aviation	1.26%	158.67	0.7%	-9.4%	-18.9%	-13.6%	355.0%	714.4%	2,684.8%
CRS	Carpenter Technology	1.12%	288.49	-0.3%	-27.3%	-8.2%	-9.3%	368.3%	864.9%	965.5%
TXT	Textron	1.05%	78.18	0.1%	2.1%	-10.3%	-2.8%	4.2%	8.0%	99.0%
HEI	Heico	0.97%	308.83	-0.3%	0.1%	-4.5%	-2.2%	96.8%	120.7%	806.3%

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%	45%	202%
S&P 500 Return	27%	-19%	24%	23%	16%	11%	103%
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%	40%
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 10/27/2026 (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%			-10%	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 10/27/2026

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 10/27/2026

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 10/27/2026

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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	-5.1%	721.25	10272026	759.66	10062026	21
QQQM	Invesco NASDAQ 100 ETF	-5.1%	296.96	10272026	312.76	10062026	21
QQEW	First Trust Nasdaq-100 Select Equal Weight ETF	-5.5%	157.84	10272026	167.03	8132026	75
IJH	iShares Core S&P Mid-Cap ETF	-6.9%	73.22	10272026	78.67	8162026	72
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	-6.8%	667.89	10272026	716.91	8162026	72
SCHM	Schwab U.S. Mid-Cap ETF	-5.5%	34.86	10272026	36.87	6302026	119
IVOO	Vanguard S&P Mid-Cap 400 ETF	-6.6%	123.94	10272026	132.68	8162026	72
IJR	iShares Core S&P Small-Cap ETF	-7.2%	139.68	10272026	150.44	8162026	72
VB	Vanguard Small-Cap ETF	-5.8%	290.51	10272026	308.38	8162026	72
IWM	iShares Russell 2000 ETF	-8.2%	280.18	10272026	305.09	8162026	72
SCHA	Schwab U.S. Small-Cap ETF	-8.6%	33.04	10272026	36.13	6302026	119
VTWO	Vanguard Russell 2000 ETF	-7.9%	113.15	10272026	122.90	8162026	72
DFAS	Dimensional U.S. Small Cap ETF	-6.0%	79.40	10272026	84.48	8162026	72
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	-5.8%	53.33	10272026	56.64	8162026	72
NUSC	Nuveen ESG Small-Cap ETF	-5.9%	50.15	10272026	53.27	8162026	72
IWF	iShares Russell 1000 Growth ETF	-5.4%	122.25	10272026	129.19	10062026	21
VONG	Vanguard Russell 1000 Growth ETF	-5.4%	125.88	10272026	133.00	10062026	21
AKRE	Akre Focus ETF	-5.8%	58.26	10272026	61.85	8302026	58
IWP	iShares Russell Mid-Cap Growth ETF	-8.1%	135.74	10272026	147.70	8172026	71
VOT	Vanguard Mid-Cap Growth ETF	-6.9%	291.99	10272026	313.61	8162026	72
IJK	iShares S&P Mid-Cap 400 Growth ETF	-8.9%	108.56	10272026	119.11	8172026	71
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	-9.0%	103.51	10272026	113.69	8172026	71
IWO	iShares Russell 2000 Growth ETF	-10.6%	353.71	10272026	395.65	8162026	72
VBK	Vanguard Small-Cap Growth ETF	-8.7%	333.95	10272026	365.91	8172026	71
IJT	iShares S&P Small-Cap 600 Growth ETF	-8.7%	163.48	10272026	179.07	8042026	84
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	-8.7%	109.06	10272026	119.50	8042026	84
IWN	iShares Russell 2000 Value ETF	-5.6%	214.67	10272026	227.43	8162026	72
IJS	iShares S&P Small-Cap 600 Value ETF	-5.9%	132.36	10272026	140.68	8162026	72
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	-6.0%	105.52	10272026	112.22	8162026	72
VIOV	Vanguard S&P Small-Cap 600 Value ETF	-5.5%	113.72	10272026	120.28	8162026	72
VXUS	Vanguard Total International Stock ETF	-5.8%	83.30	10272026	88.41	9072026	50
VEU	Vanguard FTSE All-World Ex-US ETF	-5.5%	81.47	10272026	86.21	9072026	50
IXUS	iShares Core MSCI Total International Stock ETF	-5.5%	93.30	10272026	98.71	9072026	50
CWI	State Street SPDR MSCI ACWI ex-US ETF	-5.3%	39.67	10272026	41.90	9072026	50
VEA	Vanguard FTSE Developed Markets ETF	-5.1%	69.88	10272026	73.61	8252026	63
SCHF	Schwab International Equity ETF	-5.1%	27.13	10272026	28.59	8252026	63
VGK	Vanguard FTSE Europe ETF	-6.4%	87.04	10272026	92.96	8252026	63
VSS	Vanguard FTSE All-World EX-US Small-Cap Index Fund	-6.8%	150.58	10272026	161.49	5112026	169
SCHC	Schwab International Small-Cap Equity ETF	-6.3%	48.61	10272026	51.86	8272026	61
IEMG	iShares Core MSCI Emerging Markets ETF	-11.4%	76.18	10272026	86.00	6222026	127
VWO	Vanguard FTSE Emerging Markets ETF	-7.3%	56.83	10272026	61.32	9072026	50
EEM	iShares MSCI Emerging Markets ETF	-12.2%	62.52	10272026	71.21	6222026	127
SPEM	State Street SPDR Portfolio Emerging Markets ETF	-7.1%	49.62	10272026	53.41	9072026	50
SCHE	Schwab Emerging Markets Equity ETF	-6.9%	34.97	10272026	37.58	9072026	50
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-17.5%	30.78	10272026	37.30	6222026	127
EWY	iShares MSCI South Korea ETF	-28.2%	157.46	10272026	219.20	6212026	128
EWZ	iShares MSCI Brazil ETF	-21.2%	34.30	10272026	43.54	10122026	15
FXI	iShares China Large-Cap ETF	-15.1%	32.50	10272026	38.26	5132026	167
ILF	iShares Latin America 40 ETF	-12.4%	33.46	10272026	38.21	10122026	15
KWEB	KraneShares CSI China Internet ETF	-24.4%	23.13	10272026	30.59	5132026	167
RYLD	Global X Russell 2000 Covered Call ETF	-5.2%	15.32	10272026	16.16	8272026	61
MTUM	iShares MSCI USA Momentum Factor ETF	-13.2%	299.53	10272026	345.22	6222026	127
SPHQ	Invesco S&P 500 Quality ETF	-6.8%	83.94	10272026	90.10	6302026	119
FNDA	Schwab Fundamental U.S. Small Company ETF	-6.7%	35.95	10272026	38.52	8162026	72
SPMO	Invesco S&P 500 Momentum ETF	-11.8%	142.58	10272026	161.66	6222026	127
SPGP	Invesco S&P 500 GARP ETF	-5.1%	122.49	10272026	129.02	8132026	75
ARKK	ARK Innovation ETF	-8.6%	84.78	10272026	92.78	10052026	22
URA	Global X Uranium ETF	-38.4%	35.86	10272026	58.26	5062026	174
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-19.6%	33.48	10272026	41.63	5132026	167
ROBO	ROBO Global Robotics & Automation Index ETF	-14.6%	77.18	10272026	90.34	6022026	147
LIT	Global X Lithium & Battery Tech ETF	-31.6%	62.63	10272026	91.62	5112026	169
ICLN	iShares Global Clean Energy ETF	-33.2%	15.86	10272026	23.75	6022026	147
ARKQ	ARK Autonomous Technology & Robotics ETF	-18.9%	116.65	10272026	143.82	5282026	152
ARKW	ARK Next Generation Internet ETF	-6.1%	157.04	10272026	167.33	10062026	21
ARKX	ARK Space & Defense Innovation ETF	-18.3%	30.84	10272026	37.74	5282026	152
NASA	Tema Space Innovators ETF	-48.8%	21.43	10272026	41.89	5272026	153
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	-5.9%	21.11	10272026	22.43	10052026	22
AGIX	KraneShares Artificial Intelligence ETF	-9.7%	44.74	10272026	49.56	10062026	21
DRSK	Aptus Defined Risk ETF	-7.2%	27.26	10272026	29.39	6012026	148
PCEF	Invesco CEF Income Composite ETF	-5.8%	19.18	10272026	20.35	8132026	75
YYY	Amplify CEF High Income ETF	-9.1%	10.34	10272026	11.37	8162026	72
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-24.1%	54.10	10272026	71.30	8252026	63
RAAX	VanEck Real Assets ETF	-6.7%	39.83	10272026	42.70	5112026	169
VGT	Vanguard Information Technology ETF	-5.4%	122.78	10272026	129.80	10062026	21
XLK	State Street Technology Select Sector SPDR ETF	-6.2%	189.49	10272026	202.00	10062026	21
XLI	State Street Industrial Select Sector SPDR ETF	-10.0%	167.92	10272026	186.51	8162026	72
XLC	State Street Communication Services Select Sector SPDR ETF	-11.5%	103.58	10272026	117.08	5072026	173
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-5.2%	115.45	10272026	121.82	5282026	152
XLU	State Street Utilities Select Sector SPDR ETF	-8.0%	42.85	10272026	46.55	4302026	180
IYJ	iShares U.S. Industrials ETF	-7.5%	157.09	10272026	169.86	8042026	84
IYM	iShares U.S. Basic Materials ETF	-7.6%	181.47	10272026	196.45	8252026	63
SMH	VanEck Semiconductor ETF	-16.6%	557.98	10272026	668.91	6222026	127
SOXX	iShares Semiconductor ETF	-22.0%	511.06	10272026	655.01	6222026	127
XBI	State Street SPDR S&P Biotech ETF	-8.7%	154.84	10272026	169.55	8192026	69
ITA	iShares U.S. Aerospace & Defense ETF	-18.6%	206.22	10272026	253.22	8162026	72
IYT	iShares U.S. Transportation ETF	-8.7%	82.16	10272026	90.01	7162026	103
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	-10.0%	178.16	10272026	198.06	9032026	54
KRE	State Street SPDR S&P Regional Banking ETF	-6.9%	72.58	10272026	77.93	8162026	72
MISL	First Trust Indxx Aerospace & Defense ETF	-15.8%	41.44	10272026	49.19	5282026	152
RING	iShares MSCI Global Gold Miners ETF	-22.3%	72.40	10272026	93.17	8252026	63
SOXQ	Invesco PHLX Semiconductor ETF	-21.5%	90.39	10272026	115.11	6222026	127
IGOV	iShares International Treasury Bond ETF	-5.1%	40.10	10272026	42.27	5102026	170
TLT	iShares 20+ Year Treasury Bond ETF	-5.2%	81.63	10272026	86.10	6292026	120
EDV	Vanguard World Funds Extended Duration ETF	-8.0%	59.36	10272026	64.54	6242026	125
GLD	SPDR Gold Trust	-14.3%	372.28	10272026	434.65	5112026	169
IAU	iShares Gold Trust	-14.3%	76.33	10272026	89.06	5112026	169
GLDM	SPDR Gold MiniShares Trust	-14.3%	80.32	10272026	93.69	5112026	169
SLV	iShares Silver Trust	-38.0%	49.16	10272026	79.35	5132026	167
PPLT	ETFS Physical Platinum Shares	-28.7%	13.94	10272026	19.55	5132026	167
PALL	ETFS Physical Palladium Shares	-33.0%	18.74	10272026	27.96	5062026	174
UNG	United States Natural Gas Fund LP	-20.5%	9.64	10272026	12.12	6042026	145
VNQ	Vanguard Real Estate ETF	-7.7%	92.39	10272026	100.08	7282026	91
XLRE	State Street Real Estate Select Sector SPDR ETF	-7.8%	42.44	10272026	46.01	7282026	91
SCHH	Schwab U.S. REIT ETF	-8.6%	22.72	10272026	24.86	7262026	93
IYR	iShares U.S. Real Estate ETF	-8.7%	97.97	10272026	107.26	7282026	91
REET	iShares Global REIT ETF	-9.5%	26.14	10272026	28.89	7262026	93
USRT	iShares Core U.S. REIT ETF	-9.9%	62.94	10272026	69.82	7262026	93
IBIT	iShares Bitcoin Trust ETF	-6.8%	45.70	10272026	49.01	9212026	36
FBTC	Fidelity Wise Origin Bitcoin Fund	-6.8%	70.19	10272026	75.31	9212026	36
ETHA	iShares Ethereum Trust ETF	-12.3%	53.03	10272026	60.45	9282026	29

ETF Fund Flows

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

Net fund flows · as of 2026-10-27

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$13.1B), followed by Bond (+$13.0B), while Cash (−$3.9B) and Commodity (−$2.3B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$4.4B) and out of Gold (−$2.5B).
Relative to fund size, CNEQ drew the largest inflow (+22.9% of AUM) and ARKW the largest outflow (−14.5%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$8.45B	+0.8%
2	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$2.68B	+5.9%
3	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	+$2.07B	+4.9%
4	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$1.75B	+1.0%
5	VT	Vanguard Total World Stock ETF	Other	+$1.69B	+2.0%
6	CNEQ	Alger Concentrated Equity ETF	Other	+$1.58B	+22.9%
7	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	+$1.53B	+2.2%
8	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	+$1.45B	+4.8%
9	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$1.3B	+0.2%
10	MUB	iShares National Muni Bond ETF	Bond Municipal	+$1.27B	+2.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.58B	+22.9%
2	ATFV	Alger 35 ETF	Other	+$143M	+13.9%
3	ALAI	Alger AI Enablers & Adopters ETF	Other	+$298M	+12.0%
4	SPTI	State Street SPDR Portfolio Intermediate Term Treasury ETF	Bond Intermediate Treasury	+$1.12B	+9.5%
5	TBLL	Invesco Short Term Treasury ETF	Other	+$238M	+9.1%
6	JCPB	JPMorgan Core Plus Bond ETF	Bond Core Plus Multisector	+$1.13B	+6.9%
7	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$184M	+6.6%
8	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$146M	+6.4%
9	JNK	State Street SPDR Bloomberg High Yield Bond ETF	Bond High Yield Corporate	+$369M	+6.4%
10	SCHP	Schwab US TIPS ETF	Bond Inflation Protected	+$981M	+6.0%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$4.57B	-0.6%
2	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	-$2.45B	-4.9%
3	GLD	SPDR Gold Shares	Commodity Gold	-$2.45B	-1.8%
4	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	-$1.89B	-8.2%
5	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$1.57B	-1.9%
6	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$1.35B	-0.2%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$837M	-1.8%
8	XLU	State Street Utilities Select Sector SPDR ETF	Equity Broad Sector	-$678M	-2.9%
9	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$647M	-0.9%
10	CGDV	Capital Group Dividend Value ETF	Equity Dividend Income	-$623M	-1.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	ARKW	ARK Next Generation Internet ETF	Equity Thematic	-$232M	-14.5%
2	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$130M	-12.5%
3	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	-$186M	-10.0%
4	DBA	Invesco DB Agriculture Fund	Other	-$106M	-8.7%
5	SHV	iShares Trust iShares 0-1 Year Treasury Bond ETF	Cash	-$1.89B	-8.2%
6	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$288M	-7.1%
7	LIT	Global X - Lithium & Battery Tech ETF	Equity Thematic	-$76M	-6.4%
8	PSI	Invesco Semiconductors ETF	Other	-$148M	-6.3%
9	CTA	Simplify Managed Futures Strategy ETF	Other	-$72M	-5.3%
10	BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	Cash	-$2.45B	-4.9%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$73.1B), followed by Bond (+$40.0B), while Crypto (−$1.1B) and Commodity (−$556M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$26.1B) and out of US Small Cap Core (−$2.5B).
Relative to fund size, CNEQ drew the largest inflow (+99.1% of AUM) and AGIX the largest outflow (−29.0%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$26.78B	+2.5%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$9.28B	+5.1%
3	MUB	iShares National Muni Bond ETF	Bond Municipal	+$6.97B	+14.1%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$4.81B	+4.2%
5	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$4.78B	+9.4%
6	CNEQ	Alger Concentrated Equity ETF	Other	+$4.77B	+99.1%
7	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$4.25B	+0.6%
8	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$3.82B	+29.1%
9	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$3.8B	+8.2%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$3.71B	+3.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$4.77B	+99.1%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$1.51B	+97.0%
3	ARKK	ARK Innovation ETF	Equity Thematic	+$2.48B	+37.4% ⚠
4	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$779M	+32.3%
5	TAFM	Alliance Bernstein - AB Tax-Aware Intermediate Municipal ETF	Other	+$333M	+31.8%
6	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$403M	+31.0%
7	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	+$3.82B	+29.1%
8	VTEI	Vanguard Intermediate-Term Tax-Exempt Bond ETF	Other	+$548M	+28.8%
9	SCMB	Schwab Municipal Bond ETF	Other	+$890M	+27.3%
10	FLRT	Pacer Aristotle Pacific Floating Rate High Income ETF	Other	+$249M	+24.3%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$6.31B	-0.8%
2	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$3.69B	-0.4%
3	DRAM	Roundhill Memory ETF	Other	-$2.66B	-12.0%
4	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$2.0B	-2.6%
5	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.97B	-3.8%
6	IQMM	ProShares - GENIUS Money Market ETF	Other	-$1.67B	-8.8%
7	GLD	SPDR Gold Shares	Commodity Gold	-$1.62B	-1.2%
8	MBB	iShares MBS ETF	Bond Mortgage Backed	-$1.6B	-4.5%
9	IWD	iShares Russell 1000 Value ETF	Equity US Large Value	-$1.34B	-1.6%
10	ETHA	iShares Ethereum Trust ETF	Crypto	-$1.12B	-12.9% ⚠

#	Ticker	Name	Type	Net flow	% of AUM
1	AGIX	KraneShares Public-Private AI & Technology ETF	Equity Thematic	-$326M	-29.0%
2	EUFN	iShares MSCI Europe Financials ETF	Other	-$770M	-23.7%
3	IYK	iShares U.S. Consumer Staples ETF	Other	-$361M	-22.4%
4	FV	First Trust Dorsey Wright Focus 5 ETF	Other	-$858M	-22.2%
5	EWS	iShares MSCI Singapore ETF	Other	-$218M	-17.7%
6	CQQQ	Invesco China Technology ETF	Other	-$396M	-16.8%
7	ARKW	ARK Next Generation Internet ETF	Equity Thematic	-$299M	-15.3%
8	EWP	iShares MSCI Spain ETF	Other	-$326M	-14.2%
9	BKLN	Invesco Senior Loan ETF	Other	-$837M	-13.4%
10	ETHA	iShares Ethereum Trust ETF	Crypto	-$1.12B	-12.9% ⚠

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$165.2B), followed by Bond (+$77.1B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$32.4B) and out of Mortgage Backed (−$1.7B).
Relative to fund size, CNEQ drew the largest inflow (+252.2% of AUM) and FTXL the largest outflow (−72.7%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$35.51B	+3.4%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$18.68B	+10.9%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$17.19B	+15.7%
4	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$16.66B	+2.4%
5	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$10.08B	+2.1%
6	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.84B	+8.9%
7	MUB	iShares National Muni Bond ETF	Bond Municipal	+$9.55B	+20.9%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$8.76B	+8.3%
9	VTEB	Vanguard Tax-Exempt Bond ETF	Bond Municipal	+$8.02B	+17.2%
10	BND	Vanguard Total Bond Market ETF	Bond US Aggregate Core	+$7.9B	+4.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$6.91B	+252.2%
2	ALAI	Alger AI Enablers & Adopters ETF	Other	+$2.29B	+181.4%
3	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$1.4B	+73.4%
4	VTES	Vanguard Short-Term Tax-Exempt Bond ETF	Other	+$1.95B	+70.5%
5	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$5.9B	+70.1%
6	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.37B	+69.9%
7	VSDM	Vanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETF	Other	+$698M	+69.8%
8	ARKK	ARK Innovation ETF	Equity Thematic	+$3.85B	+60.1% ⚠
9	VCRM	Vanguard Core Tax-Exempt Bond E	Other	+$1.13B	+59.0%
10	ACWX	iShares MSCI ACWI ex U.S. ETF	Other	+$6.83B	+54.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$17.56B	-2.0%
2	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.54B	-27.1%
3	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$4.69B	-0.6%
4	DRAM	Roundhill Memory ETF	Other	-$4.04B	-16.0%
5	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$3.74B	-6.9%
6	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$2.73B	-6.5%
7	MBB	iShares MBS ETF	Bond Mortgage Backed	-$2.67B	-6.9%
8	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$2.54B	-8.5%
9	USHY	iShares Broad USD High Yield Corporate Bond ETF	Bond High Yield Corporate	-$2.06B	-7.3%
10	EFG	iShares MSCI EAFE Growth ETF	Other	-$1.27B	-7.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$933M	-72.7%
2	MTBA	Simplify MBS ETF	Other	-$566M	-40.0%
3	USO	United States Oil Fund, LP	Commodity Energy	-$747M	-39.4%
4	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$511M	-32.8%
5	BKAG	BNY Mellon Core Bond ETF	Other	-$648M	-29.0%
6	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$490M	-27.7%
7	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$6.54B	-27.1%
8	CTA	Simplify Managed Futures Strategy ETF	Other	-$375M	-24.7%
9	CQQQ	Invesco China Technology ETF	Other	-$596M	-21.0%
10	IYZ	iShares U.S. Telecommunications ETF	Other	-$237M	-20.7%

Largest ETF fund flows across ~2649 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
ENVX	Enovix	0.7	25.0%	-54.2%
HRI	Herc	5.2	22.8%	6.7%
MFIC	MidCap Financial Investment	0.8	22.7%	-1.6%
KNSA	Kiniksa Pharmaceuticals International	6.9	22.2%	116.2%
PRME	Prime Medicine	0.8	20.5%	25.4%
JBLU	JetBlue Airways	1.1	19.0%	-38.0%
NB	NioCorp Developments	0.5	17.6%	-35.7%
USAR	USA Rare Earth	2.4	16.7%	-12.6%
CTOS	Custom Truck One Source	2.4	16.6%	82.5%
UAMY	United States Antimony	0.5	16.1%	-34.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
INOD	Innodata	1.5	-25.3%	-12.2%
MSGS	Madison Square Garden Sports	7.4	-20.5%	18.1%
XYL	Xylem	21.9	-14.2%	-31.0%
BA	Boeing	133.0	-10.7%	-22.5%
UNF	UniFirst	4.5	-10.5%	30.3%
DK	Delek US	4.3	-10.4%	140.8%
PARR	Par Pacific	3.6	-10.4%	112.1%
VLO	Valero Energy	113.9	-9.2%	141.5%
EYE	National Vision	1.3	-9.0%	-37.3%
INTA	Intapp	3.3	-8.9%	-6.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
SGRY	Surgery Partners	3.0	50.8%	51.2%
ENVX	Enovix	0.7	48.9%	-54.2%
RPD	Rapid7	1.2	33.1%	15.8%
NTSK	Netskope	10.5	31.9%	49.1%
DGICB	Donegal	-	29.7%	48.4%
RRC	Range Resources	13.2	29.2%	61.1%
LQDA	Liquidia	4.0	25.0%	31.7%
PACB	Pacific Biosciences of California	0.8	25.0%	31.0%
TENB	Tenable	5.4	24.8%	106.8%
HRI	Herc	5.2	24.5%	6.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
AVTX	Avalo Therapeutics	0.3	-45.4%	-62.8%
ORIC	ORIC Pharmaceuticals	1.0	-34.7%	10.0%
MSGS	Madison Square Garden Sports	7.4	-26.1%	18.1%
CORT	Corcept Therapeutics	9.2	-24.8%	151.7%
RCUS	Arcus Biosciences	2.3	-23.6%	-23.9%
KALU	Kaiser Aluminum	1.9	-23.3%	3.4%
CRS	Carpenter Technology	14.3	-22.6%	-8.2%
AMCX	AMC Global Media	0.3	-22.0%	-17.6%
LKQ	LKQ	4.4	-20.6%	-41.5%
NVEC	NVE	0.4	-20.4%	41.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
BRZE	Braze	5.1	97.6%	33.5%
SGRY	Surgery Partners	3.0	59.0%	51.2%
DGICB	Donegal	-	54.1%	48.4%
DXC	DXC Technology	2.6	53.0%	8.1%
PRME	Prime Medicine	0.8	51.3%	25.4%
FIGS	FIGS	3.4	50.4%	80.3%
RPD	Rapid7	1.2	49.2%	15.8%
RRC	Range Resources	13.2	48.9%	61.1%
NTSK	Netskope	10.5	46.5%	49.1%
RXO	RXO	4.9	44.4%	130.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
GLAS	Glass House Brands	0.2	-65.8%	-73.6%
EMAT	Evolution Metals & Technologies	0.9	-55.3%	-93.3%
AVTX	Avalo Therapeutics	0.3	-55.2%	-62.8%
NUAI	New Era Energy & Digital	0.3	-53.3%	10.9%
SHAZ	SharonAI	0.5	-51.3%	-72.2%
BRUN	Boost Run	0.5	-50.1%	-61.3%
CIFR	Cipher Digital	3.5	-49.3%	-42.5%
FMC	FMC	0.6	-48.4%	-65.3%
AVBP	ArriVent BioPharma	0.7	-47.4%	-23.5%
MARA	MARA	2.7	-41.5%	-21.0%

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	67.7	46.4	10.7	10.4	4.5	11.4
Expense Ratio	0.37%	0.35%	0.33%	0.44%	0.35%	0.35%	0.35%
10-D Avg Volume (Mil)	0.74	9.30	8.76	1.62	9.23	3.08	5.92
Latest Day Volume (Mil)	-	10.08	9.07	0.77	4.82	2.24	4.82
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	207.10	541.56	492.25	208.68	149.61	201.63	-
Premium/Discount	-0.4%	3.0%	3.8%	1.7%	3.5%	-0.8%	2.4%
Distribution Yield	0.0%	0.2%	0.3%	0.2%	0.4%	1.6%	0.2%
Sales Yield	35.1%	8.2%	9.1%	11.8%	9.6%	108.4%	10.7%
Earnings Yield	3.5%	2.8%	2.6%	1.8%	1.4%	7.2%	2.7%

Valuation

	ITA	SMH	SOXX	IBB	XBI	XOP	Median
Name	iShares U..	VanEck Sem.	iShares Se.	iShares Bi.	State Stre.	State Stre.
P/S (TTM)	2.9x	12.2x	11.0x	8.5x	10.5x	0.9x	9.5x
P/E (TTM)	28.9x	35.6x	38.6x	55.9x	70.6x	13.9x	37.1x
P/FCF (TTM)	37.9x	42.3x	43.6x	117.3x	-	16.8x	42.3x
Forward P/E	26.0x	-	-	-	49.3x	9.5x	26.0x
Forward P/S	2.6x	-	-	-	8.2x	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)	23.0%	40.1%	46.6%	22.7%	29.1%	28.7%	28.9%
Volatility (3Y)	20.1%	37.3%	40.2%	21.4%	28.2%	28.3%	28.2%
Volatility (5Y)	20.4%	37.0%	38.9%	22.4%	32.5%	32.9%	32.7%
Beta (1Y)	0.99	2.40	2.64	0.81	1.10	-0.51	1.04
Beta (3Y)	0.85	1.99	2.09	0.82	1.05	0.64	0.95
Beta (5Y)	0.81	1.77	1.83	0.86	1.16	0.82	1.01
Sharpe Ratio (1Y)	-0.10	1.36	1.41	1.50	1.38	1.74	1.40
Sharpe Ratio (3Y)	1.22	1.42	1.22	1.04	1.14	0.56	1.18
Sharpe Ratio (5Y)	0.77	0.97	0.83	0.39	0.30	0.62	0.69
Max Drawdown (1Y)	-20.1%	-24.6%	-29.0%	-9.6%	-14.9%	-18.5%	-19.3%
Max Drawdown (3Y)	-20.1%	-35.7%	-41.4%	-24.9%	-33.0%	-35.0%	-34.0%
Max Drawdown (5Y)	-20.1%	-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	-1.5%	-7.0%	-8.9%	0.7%	-1.1%	11.0%	-1.3%
3M Return	-12.7%	10.7%	9.9%	12.6%	4.7%	16.3%	10.3%
6M Return	-4.6%	13.6%	16.5%	26.5%	18.1%	17.1%	16.8%
YTD Return	-3.8%	54.9%	69.9%	25.8%	27.0%	59.8%	41.0%
1Y Return	-4.8%	59.4%	73.2%	37.0%	43.3%	58.2%	50.8%
2Y Return	38.5%	123.4%	126.3%	47.9%	58.2%	54.9%	56.5%
3Y Return	96.8%	298.0%	240.8%	82.4%	132.6%	42.3%	114.7%

Short Interest

Short Interest: As Of Date	10152026
Short Interest: Shares Quantity	1.7 Mil
Short Interest: % Change Since 9302026	8.0%
Average Daily Volume	0.8 Mil
Days-to-Cover Short Interest	2.2 days

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

Market Price (10/28/2026): $206.44

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

Market Price (10/28/2026): $206.44

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

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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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