IEO Fund Description

The iShares U.S. Oil & Gas Exploration & Production ETF tracks a market cap weighted index of companies in the U.S. oil and gas exploration and production space according to Dow Jones.

IEO ETF.com Insight

IEO is the poster child for broad exposure and liquidity within its segment traits that help its earn our Analyst Pick for the segment. IEO is quite top-heavy, with about 13% holding inIEO is the poster child for broad exposure and liquidity. ConocoPhillips not to mention that its top 10 holdings make up almost 60% of its portfolio. Even though its 45 bps expense ratio is expensive in the context of a U.S. equity fund, it's one of the cheaper and better-managed funds in its segment. Despite the flaws, IEO's average spread of 0.04% and ADV of over $9 million make it easy for both small and large investors to trade. (Insight updated 10/03/2014)

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/17/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
IEO -16.64% -18.48% -6.29% -6.99% 10.11% 7.45% --
IEO (NAV) -16.70% -18.50% -6.30% -7.07% 10.11% 7.43% --
Dow Jones U.S. Select Oil Exploration & Production Index -16.70% -18.42% -6.00% -6.70% 10.57% 7.90% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IEO Top 10 Countries

IEO Top 10 Sectors

IEO Top 10 Holdings View All

IEO Summary Data

BlackRock

A company that produces and manages ETFs.

05/01/06

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.45%

The net total annual fee a fund holder pays to the issuer.

$455.29 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$12.73 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.04%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

IEO Portfolio Data

$34.23 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

27.48

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.96

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.12%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/24/14

The date on which a security's price excludes an upcoming dividend.

78

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

IEO Index Data

Dow Jones U.S. Select Oil Exploration & Production Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

Thomson Reuters US Oil & Gas Exploration and Production

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to IEO

PXE, XOP

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

IEO Commentary & News

14 October 2014 Oil Collapse Highlights ETF Differences | ETF.com Cinthia Murphy
18 September 2014 Oil ETFs | ETF.com
26 August 2014 Energy ETFs | ETF.com

IEO ETF.com Efficiency Insight

IEO's expense ratio of 45 bps may be daunting, but it's still a well-managed fund. Over the past two years, the fund missed its index by 57 bps over a typical year just a little bit higher than its expense ratio. The fund has also accumulated significant capital losses a good sign that investors should not expect a capital gains payout anytime soon. (Insight updated 10/03/2014)

Total Return - 10/17/2014
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 10/17/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
IEO -16.64% -18.48% -6.29% -6.99% 10.11% 7.45% --
IEO (NAV) -16.70% -18.50% -6.30% -7.07% 10.11% 7.43% --
Dow Jones U.S. Select Oil Exploration & Production Index -16.70% -18.42% -6.00% -6.70% 10.57% 7.90% --
Thomson Reuters US Oil & Gas Exploration and Production -16.70% -19.69% -5.53% -11.74% 7.39% 5.06% 11.90%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IEO Portfolio Management

0.45%

The net annual fee a fund holder pays to the issuer.

-0.57%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.36%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.67%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

IEO Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

IEO Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

70% / 30%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

IEO ETF.com Tradability Insight

IEO offers solid liquidity. It has a strong median daily dollar volume of over $9 million which translates into about 2 creation units a day. Spreads are usually tight, with averages hovering around 0.04%. Both large and small investors will find this fund easy to trade just be sure to use limit orders. (Insight updated 10/03/2014)



Average Spread
Premium/Discount
Volume

IEO ETF.com/ Block LiquidityAs of 10/20/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of IEO. IEO is rated a 5 out of 5.

IEO Tradability

147,905

It is the daily number of shares traded, averaged over the past 45 trading days.

$12.73 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

107,061

Median number of shares traded over the past 45 trading days.

$9.78 M

Median dollar value of shares traded over the past 45 trading days.

0.04%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.04

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.00%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.10% / -0.10%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

2.14

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.01%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.08%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

2,117

The total number of net outstanding options contracts for an ETF.

$76.52

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

IEO ETF.com Fit Insight

IEO is the most representative ETF in its segment, but still has its own warts. The fund employs a market-cap-weighting scheme, but is extremely top-heavy, with its top 10 holdings comprising almost 60% of its portfolio and ConocoPhillips dominating with a 13% position. All told, IEO is still a solid choice for exploration-&-production-focused investors. (Insight updated 10/03/2014)

IEO Geographic Exposure

IEO Segment Benchmark
100.00% 100.00%

IEO Segment Benchmark
100.00% 100.00%

100.00% / 0% 100.00% / 0%

IEO Performance Statistics

0.94

The degree to which the fund and its segment benchmark move up and down in unison.

0.92

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

0.89

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.97

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.27%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Thomson Reuters US Oil & Gas Exploration and Production

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

IEO Benchmark Comparison

IEO
78 Holdings
Segment Benchmark
54 Constituents
Shared Holdings
45 (Count)
 
73.71% (Weight)
IEOSegment Benchmark
$41.74 B$34.23 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

78%74%
18%21%
4%5%
0%0%
32.6227.48

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.901.96

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.57%1.30%

The weighted average of the current yield on the portfolio’s holdings.

5478

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

HighHigh

The level of return contribution attributable to the average portfolio constituent.