ETEC
iShares Breakthrough Environmental Solutions ETF
ETEC tracks an index of global companies involved in breakthrough innovations addressing climate transition. The fund selects stocks by utilizing an Adoption Curve that contributes to a companys aggregate score (sum of revenue earned from green technology and product innovation score). Holdings are market cap weighted in the index.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
4.1 M
ASSETS UNDER MGMT
47 bp
EXPENSES
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 28, 2023 |
| Assets (mns) | $4 |
| Expense ratio | 47 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| YASKAWA ELECTRIC CORP | 8.5 % |
| CAMBRICON TECHNOLOGIES CORPORATION | 6.4 % |
| KURITA WATER INDUSTRIES LTD | 6.3 % |
| BORGWARNER INC | 5.5 % |
| FIRST SOLAR INC | 5.2 % |
| ALLEGRO MICROSYSTEMS, INC. | 5.1 % |
| UNIVERSAL DISPLAY CORP | 4.7 % |
| SIEMENS ENERGY AG | 4.0 % |
| VESTAS WIND SYSTEMS A/S | 3.8 % |
| KEMIRA OYJ | 3.5 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 394 |
| Wgt avg mkt cap (mns) | $56,585 |
| Large cap (>$10bn) | 26.5% |
| Mid cap ($2-10bn) | 53.0% |
| Small cap (<$2bn) | 4.2% |
| Developed mkts. | 69.0% |
| Emerging mkts. | 13.7% |
Country Exposure
 |
UNITED STATES | 32.3 % |
 |
JAPAN | 22.6 % |
 |
CHINA | 8.6 % |
 |
GERMANY | 5.9 % |
 |
DENMARK | 3.8 % |
 |
FINLAND | 3.5 % |
 |
SOUTH KOREA | 2.9 % |
 |
TAIWAN | 2.4 % |
 |
HONG KONG | 2.3 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 29.8% | 22.6% | 5.1% | -- | -- | -- | -- | -2.7% |
| Dividend Yield | 0.0% | 0.9% | 2.6% | -- | -- | -- | -- | 2.0% |
| Total Returns | 29.8% | 23.5% | 7.7% | -- | -- | -- | -- | -0.7% | Ann. Volatility | 26.2% | 25.7% | 25.2% | -- | -- | -- | -- | 24.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 56% |
| MSCI EAFE | 1.15 | 56% |
| MSCI Emg Mkts | 1.22 | 71% |
Liquidity Measures
| Avg. volume (000) | 1 |
| ADV traded (mns) | $0 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.36% |
Technical Indicators
| 30d moving avg. (EMA) | $24.67 |
| Relative strength (RSI) | 56 |
| MACD/Signal | -0.04/-0.15 |
| Bollinger Bands (Upper/Lower) | $26.14/$23.09 |
| Short interest (% of AUM) | 0.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ETEC |
Expenses vs. ETEC |
ALTAR Score™ vs. ETEC |
|---|---|---|---|---|
| ERTH | Invesco MSCI Sustainable Future ETF | 18.1% | +15 bp | +3.4% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 17.1% | +11 bp | -1.9% |
| CTEC | Global X CleanTech ETF | 16.8% | +3 bp | +0.7% |
| SMOG | VanEck Low Carbon Energy ETF | 16.2% | +14 bp | +1.5% |
| FRNW | Fidelity Clean Energy ETF | 15.8% | -8 bp | +2.3% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 14.3% | +12 bp | +3.9% |
| FDRV | Fidelity Electric Vehicles and Future Transportation ETF | 14.1% | -8 bp | -1.3% |
| ACES | ALPS Clean Energy ETF | 14.1% | +8 bp | -2.5% |
| ICLN | iShares Global Clean Energy ETF | 13.2% | -6 bp | +3.1% |
| TAN | Invesco Solar ETF | 12.3% | +20 bp | +5.7% |
Risk and Returns: ETEC 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 12/12/2025
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
ETEC
3.4%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 383 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
3.1%. ETEC's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places ETEC in the 41st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ETECSELL
U/W
HOLD
O/W
BUY