ETF Evaluator: iShares US Oil & Gas Explor & Prod ETF (IEO) Follow This ETF

iShares US Oil & Gas Explor & Prod ETF Overview

iShares US Oil & Gas Explor & Prod ETF (IEO) is a passively managed Sector Equity Equity Energy exchange-traded fund (ETF). iShares launched the ETF in 2006.

The investment seeks to track theinvestment results of an index composed of U.S.equities in the oil and gas explorationand production sector. The fund generally will invest at least 80% of its assets in the component securities of its underlying indexand may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the underlying index, but which BFA believes will help the fund track the underlying index. The fund is non-diversified.

About iShares US Oil & Gas Explor & Prod ETF (IEO)

There are 4 members of the management team with an average tenure of 4.40 years: Jennifer Hsui (2012), Peter Sietsema (2025), Matt Waldron (2025) and Steven White (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P US TMI TR USD index with a weighting of 100% and DJ US Select Oil Explor&Prodtn TR USD index with a weighting of 100%. iShares US Oil & Gas Explor & Prod ETF has 50 securities in its portfolio. The top 10 holdings constitute 71.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

iShares US Oil & Gas Explor & Prod ETF is part of the Equity global asset class and is within the Sector Equity ETF group. iShares US Oil & Gas Explor & Prod ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.9% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares US Oil & Gas Explor & Prod ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $516 million in total assets, which is below the $1 billion average for the Equity Energy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

IEO Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares US Oil & Gas Explor & Prod ETF expense ratio is below average compared to funds in the Equity Energy category. iShares US Oil & Gas Explor & Prod ETF has an expense ratio of 0.38%, which is 32% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares US Oil & Gas Explor & Prod ETF has a portfolio turnover rate of 24%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 23% for the Equity Energy category.

Recently, in the month of June 2026, iShares US Oil & Gas Explor & Prod ETF returned -3.3%, which earned it a grade of B, as the Equity Energy category had an average return of -4.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

iShares US Oil & Gas Explor & Prod ETF has a trailing yield of 2.12%, which is below the 2.42% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

iShares US Oil & Gas Explor & Prod ETF Grades

Year to date, the ETF has returned 24.1%, 3.6 percentage points better than the category, which translates into a grade of B. The fund has returned 26.9% over the past year (grade of D), 11.7% over the past three years (grade of C) and 17.4% per year over the past five years (grade of B) and 9.5% per year over the past 10 years (grade of A).

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