ETF Evaluator:
iShares FinTech Active ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Financial Over the Last Year
| 46.8% | Themes Global Systemically Imp Bks ETF (GSIB) |
| 33.6% | Invesco KBW Bank ETF (KBWB) |
| 30.8% | First Trust NASDAQ® ABA Community Bk ETF (QABA) |
| 30.6% | iShares US Regional Banks ETF (IAT) |
| 29.8% | State Street® SPDR® S&PRgnllBkgETF (KRE) |
Risk
Index
Risk
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ETF Details
iShares FinTech Active ETF Overview
iShares FinTech Active ETF (BPAY) is an actively managed Sector Equity Financial exchange-traded fund (ETF). BlackRock launched the ETF in 2022.
The investment seeks to maximize total return.
Under normal market conditions, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of fintech companies and derivatives that provide investment exposure to such securities or to one or more market risk factors associated with such securities. The fund is non-diversified.
About iShares FinTech Active ETF (BPAY)
There are 2 members of the management team with an average tenure of 3.01 years: Vasco Moreno (2022) and Hashim Bhattee (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. iShares FinTech Active ETF has 42 securities in its portfolio. The top 10 holdings constitute 37.7% 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 FinTech Active ETF is part of the Equity global asset class and is within the Sector Equity ETF group. iShares FinTech Active ETF has 36.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 58.8% There is 36.7% 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 FinTech Active ETF has 4.5% of the portfolio in cash.
Assets Under Management
The fund has $9 million in total assets, which is below the $2 billion average for the Financial 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.
BPAY 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 FinTech Active ETF expense ratio is average compared to funds in the Financial category. iShares FinTech Active ETF has an expense ratio of 0.55%, which is 64% lower than its category average, making the fund expense ratio grade a C. 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 FinTech Active ETF has a portfolio turnover rate of 84%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 27% for the Financial category.
Recently, in the month of July 2026, iShares FinTech Active ETF returned 3.5%, which earned it a grade of D, as the Financial category had an average return of 4.6%. 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 FinTech Active ETF has a trailing yield of 2.91%, which is below the 3.85% category average.
The fund normally distributes its income annually 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 FinTech Active ETF Grades
Year to date, the ETF has returned -1.4%, 6.2 percentage points worse than the category, which translates into a grade of D. The fund has returned -13.8% over the past year (grade of F) and 8.6% over the past three years (grade of D).
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BPAY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BPAY Return (NAV) | 3.5% | 9.7% | -13.8% | 8.6% | na | na |
| BPAY Return (Price) | 3.5% | 9.6% | -14.2% | 8.4% | na | na |
| NAV +/- Price Return | 0.009% | 0.109% | 0.378% | 0.179% | na | na |
| Financial Avg | 4.6% | 6.3% | 9.3% | 15.6% | 8.6% | 10.8% |
| BPAY Grade (NAV) | D | B | F | D | na | na |
| +/- Category (NAV) | -1.1% | 3.4% | -23.2% | -7.0% | na | na |
| BPAY Tax-Cost Ratio | na | na | 1.9% | 0.8% | na | na |
BPAY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BPAY Return (NAV) | -1.4% | 9.1% | 17.0% | 13.3% | na | na | na | na | na | na | na |
| BPAY Return (Price) | -1.5% | 8.4% | 17.3% | 13.2% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.069% | -0.072% | 0.020% | -0.004% | na | na | na | na | na | na | na |
| Financial Avg | 4.8% | 11.7% | 23.9% | 13.9% | -13.8% | 32.1% | -1.0% | 28.6% | -12.8% | 14.2% | 22.3% |
| BPAY Grade (NAV) | D | C | D | C | na | na | na | na | na | na | na |
| +/- Category | -6.2% | -2.6% | -6.9% | -0.6% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.39 |
| R-Squared: | 55% |
| Standard Deviation: | 23.7% |
| Category Risk Index: | 1.38 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.93 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 2.9% |
| Total Assets: | $ 10 Mil |
| Share Class Assets: | $ 10 Mil |
| Turnover: | 84.0% |
| Expense Ratio: | 0.55% |
| Index Fund: | No |
| Index Tracked: | MSCI ACWI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 3.0 years | |||
| Managers (Year): Moreno Vasco (2022), Bhattee Hashim (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 42 |
| % in Top 10 Holdings: | 37.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 36.7% |
Portfolio Allocation |
|
| Domestic Stock: | 58.8% |
| Foreign Stock: | 36.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | BlackRock |
| Phone Number: | 800-474-2737 |
| Website: | www.blackrock.com |
| Inception Date: | August 16, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.55% (Rating: Avg) |
| Category Average Expense Ratio (%): | 1.52% |
