THRO
iShares U.S. Thematic Rotation Active ETF
iShares U.S. Thematic Rotation Active ETF seeks to provide long-term capital appreciation by actively investing in thematic sectors that exhibit growth potential.
US
EQUITY
Active
MANAGEMENT STYLE
4.9 B
ASSETS UNDER MGMT
90 bp
EXPENSES
Fund Basics
| Fund sponsor | iShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 14, 2021 |
| Assets (mns) | $4,882 |
| Expense ratio | 90 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NVIDIA CORP | 8.5 % |
| MICROSOFT CORP | 6.2 % |
| APPLE INC | 6.1 % |
| AMAZON.COM INC | 4.2 % |
| META PLATFORMS INC | 3.5 % |
| BOSTON SCIENTIFIC CORP | 2.6 % |
| BROADCOM INC. | 2.4 % |
| COSTCO WHOLESALE CORP | 2.2 % |
| ALPHABET INC. CLASS A | 2.1 % |
| TJX COMPANIES INC | 2.1 % |
Constituent Breakdown
| Number of holdings | 232 |
| Herfindahl-Hirschman Index | 238 |
| Wgt avg mkt cap (mns) | $838,484 |
| Large cap (>$10bn) | 91.9% |
| Mid cap ($2-10bn) | 7.9% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.2 % |
 |
ISRAEL | 1.9 % |
 |
IRELAND | 1.3 % |
 |
BRITAIN | 0.8 % |
 |
CANADA | 0.6 % |
Historical Performance
Standardized Performance (as of 06/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.0% | 14.6% | 21.3% | 22.1% | -- | -- | -- | 10.6% |
| Dividend Yield | 0.0% | 0.7% | 0.6% | 0.8% | -- | -- | -- | 0.7% |
| Total Returns | 6.0% | 15.3% | 21.9% | 22.9% | -- | -- | -- | 11.3% | Ann. Volatility | 24.6% | 20.6% | 17.0% | 18.4% | -- | -- | -- | 20.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 95% |
| MSCI EAFE | 0.75 | 46% |
| MSCI Emg Mkts | 0.48 | 21% |
Liquidity Measures
| Avg. volume (000) | 776 |
| ADV traded (mns) | $28 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.00% |
Technical Indicators
| Recent close | $35.87 |
| 30d moving avg. | $34.54 |
| Annualized volatility | 18.1% |
| Relative strength (RSI) | 64 |
| Short interest | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| STXG | Strive 1000 Growth ETF | 56.9% | -72 bp | +3.9% |
| IWL | iShares Russell Top 200 ETF | 55.6% | -75 bp | +4.7% |
| CATH | Global X S&P 500 Catholic Values Custom ETF | 55.5% | -61 bp | +4.7% |
| XVV | iShares ESG Screened S&P 500 ETF | 55.4% | -82 bp | +4.8% |
| MGC | Vanguard Mega Cap ETF | 55.2% | -83 bp | +4.7% |
| SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 54.7% | -70 bp | +4.7% |
| IVV | iShares Core S&P 500 ETF | 54.4% | -87 bp | +5.0% |
| SPY | SPDR S&P 500 ETF Trust | 54.4% | -81 bp | +4.9% |
| VOO | Vanguard S&P 500 ETF | 54.4% | -87 bp | +5.0% |
| SPLG | SPDR Portfolio S&P 500 ETF | 54.4% | -88 bp | +5.0% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/6/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
THRO
4.0%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 965 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.3%. THRO's ALTAR Score™ is approximately
0.8 standard deviations
below
the category average. This places THRO in the 22nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
THROSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (90 bp) Percentile rank | 77 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| THRO | 90.0 | 0.0 | 90 |
| Peer Avg. | 54.3 | 30.2 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .