ETF Evaluator:
iShares Morningstar Multi-Asset Inc ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Global Moderately Conservative Allocation Over the Last Year
| 23.3% | Gadsden Dynamic Multi-Asset ETF (GDMA) |
| 13.5% | Global Moderately Conservative Allocation () |
| 13.2% | iShares Morningstar Multi-Asset Inc ETF (IYLD) |
| 13.2% | First Trust Income Opportunity ETF (FCEF) |
| 12.7% | RiverNorth Active Income ETF (CEFZ) |
Risk
Index
Risk
Index
ETF Details
iShares Morningstar Multi-Asset Inc ETF Overview
iShares Morningstar Multi-Asset Inc ETF (IYLD) is a passively managed Allocation Global Moderately Conservative Allocation exchange-traded fund (ETF). iShares launched the ETF in 2012.
The investment seeks to track the investment results of the Morningstar® Multi-Asset High Income IndexSM.
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is broadly diversified and seeks to deliver high current income while maintaining long-term capital appreciation. The fund is a fund-of-funds and invests primarily in the securities of the underlying funds that themselves seek investment results corresponding to their own underlying indexes.
About iShares Morningstar Multi-Asset Inc ETF (IYLD)
There are 4 members of the management team with an average tenure of 2.04 years: Jennifer Hsui (2022), 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: Bloomberg US Universal TR USD index with a weighting of 100% and MSCI ACWI NR USD index with a weighting of 100%. iShares Morningstar Multi-Asset Inc ETF has 12 securities in its portfolio. The top 10 holdings constitute 99.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares Morningstar Multi-Asset Inc ETF is part of the Allocation global asset class and is within the Allocation ETF group. iShares Morningstar Multi-Asset Inc ETF has 44.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.7% There is 21.5% allocated to foreign stock, and 13.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 58.4% (35.3% domestic bond, 23.2% foreign bond and 0.0% convertible bond). iShares Morningstar Multi-Asset Inc ETF has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $125 million in total assets, which is below the $293 million average for the Global Moderately Conservative Allocation 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.
IYLD 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 Morningstar Multi-Asset Inc ETF expense ratio is average compared to funds in the Global Moderately Conservative Allocation category. iShares Morningstar Multi-Asset Inc ETF has an expense ratio of 0.50%, which is 64% 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 Morningstar Multi-Asset Inc ETF has a portfolio turnover rate of 35%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Global Moderately Conservative Allocation category.
Recently, in the month of July 2026, iShares Morningstar Multi-Asset Inc ETF returned 0.8%, which earned it a grade of A, as the Global Moderately Conservative Allocation category had an average return of -0.8%. 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 Morningstar Multi-Asset Inc ETF has a trailing yield of 4.60%, which is above the 4.36% category average.
The fund normally distributes its income monthly 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 Morningstar Multi-Asset Inc ETF Grades
Year to date, the ETF has returned 5.9%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 13.2% over the past year (grade of A), 9.6% over the past three years (grade of D) and 3.2% per year over the past five years (grade of F) and 3.7% per year over the past 10 years (grade of F).
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IYLD 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 |
|
| IYLD Return (NAV) | 0.8% | 1.3% | 13.2% | 9.6% | 3.2% | 3.7% |
| IYLD Return (Price) | 0.8% | 1.1% | 13.2% | 9.6% | 3.2% | 3.7% |
| NAV +/- Price Return | 0.047% | 0.197% | 0.090% | -0.076% | 0.005% | 0.015% |
| Global Moderately Conservative Allocation Avg | -0.8% | 1.1% | 13.5% | 11.6% | 5.3% | 5.8% |
| IYLD Grade (NAV) | A | C | A | D | F | F |
| +/- Category (NAV) | 1.6% | 0.3% | -0.2% | -2.0% | -2.1% | -2.1% |
| IYLD Tax-Cost Ratio | na | na | 1.8% | 1.9% | 1.8% | 1.8% |
IYLD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IYLD Return (NAV) | 5.9% | 15.1% | 3.4% | 11.0% | -16.5% | 3.4% | -1.3% | 15.9% | -4.8% | 10.9% | 9.8% |
| IYLD Return (Price) | 5.7% | 15.4% | 2.0% | 12.6% | -16.8% | 3.4% | -1.2% | 15.8% | -4.8% | 10.9% | 9.7% |
| NAV +/- Price Ret | -0.029% | 0.020% | -0.407% | 0.137% | 0.016% | 0.001% | -0.057% | -0.5% | 0.5% | 0.3% | -1.4% |
| Global Moderately Conservative Allocation Avg | 6.2% | 15.5% | 9.0% | 10.1% | -13.3% | 9.3% | 6.8% | 18.4% | -6.3% | 14.1% | 8.6% |
| IYLD Grade (NAV) | C | B | F | C | F | F | F | D | B | F | B |
| +/- Category | -0.3% | -0.4% | -5.6% | 0.9% | -3.3% | -6.0% | -8.1% | -2.6% | 1.6% | -3.2% | 1.2% |
| Risk Measures | |
| Beta: | 0.58 |
| R-Squared: | 78% |
| Standard Deviation: | 6.2% |
| Category Risk Index: | 0.76 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.50 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.6% |
| Total Assets: | $ 125 Mil |
| Share Class Assets: | $ 125 Mil |
| Turnover: | 35.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Universal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 4.2 years | |||
| Average Tenure: 2.0 years | |||
| Managers (Year): Hsui Jennifer (2022), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 99.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 44.7% |
Portfolio Allocation |
|
| Domestic Stock: | 4.7% |
| Foreign Stock: | 21.5% |
| Preferred Stock: | 13.5% |
| Domestic Bond: | 35.3% |
| Foreign Bond: | 23.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 1.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | au.ishares.com |
| Inception Date: | April 3, 2012 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 1.41% |
