ETF Evaluator:
iShares Global Materials ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Natural Resources Over the Last Year
| 43.0% | Amplify Energy & Natural Res Cov Cll ETF (NDIV) |
| 42.6% | iShares North American Natural Res ETF (IGE) |
| 40.5% | State Street® SPDR® S&P® NrthAmNtrlRsETF (NANR) |
| 32.5% | VanEck Natural Resources ETF (HAP) |
| 32.0% | State Street® SPDR® S&P® Glb Ntrl Rs ETF (GNR) |
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ETF Details
iShares Global Materials ETF Overview
iShares Global Materials ETF (MXI) is a passively managed Sector Equity Natural Resources exchange-traded fund (ETF). iShares launched the ETF in 2006.
The investment seeks to track the investment results of the S&P Global 1200 Materials (Sector) Capped IndexTM composed of global equities in the materials sector.
The fund seeks to track the investment results of the S&P Global 1200 Materials (Sector) Capped IndexTM, which measures the performance of companies that S&P Dow Jones Indices LLC, a subsidiary of S&P Global, Inc., deems to be part of the materials sector of the economy and that SPDJI believes are important to global markets. The index is a subset of the S&P Global 1200, which is designed to measure the performance of large-capitalization stocks from major global markets, as determined by SPDJI.
About iShares Global Materials ETF (MXI)
There are 4 members of the management team with an average tenure of 4.75 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 Global BMI NR USD index with a weighting of 100% and S&P Global 1200 Materials Sec Cap NR USD index with a weighting of 100%. iShares Global Materials ETF has 114 securities in its portfolio. The top 10 holdings constitute 39.1% 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 Global Materials ETF is part of the Equity global asset class and is within the Sector Equity ETF group. iShares Global Materials ETF has 61.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 37.9% There is 61.9% 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 Global Materials ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $393 million in total assets, which is below the $1 billion average for the Natural Resources 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.
MXI 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 Global Materials ETF expense ratio is below average compared to funds in the Natural Resources category. iShares Global Materials ETF has an expense ratio of 0.37%, which is 16% 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 Global Materials ETF has a portfolio turnover rate of 11%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 43% for the Natural Resources category.
Recently, in the month of October 2026, iShares Global Materials ETF returned -0.7%, which earned it a grade of D, as the Natural Resources category had an average return of 1.5%. 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 Global Materials ETF has a trailing yield of 1.72%, which is below the 1.93% category average.
The fund normally distributes its income semi-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 Global Materials ETF Grades
Year to date, the ETF has returned 11.2%, 3.6 percentage points worse than the category, which translates into a grade of D. The fund has returned 20.2% over the past year (grade of C), 14.7% over the past three years (grade of C) and 7.1% per year over the past five years (grade of C) and 10.1% per year over the past 10 years (grade of D).
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MXI Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MXI Return (NAV) | -0.7% | 0.6% | 20.2% | 14.7% | 7.1% | 10.1% |
| MXI Return (Price) | -0.5% | 0.7% | 20.1% | 14.7% | 7.1% | 10.1% |
| NAV +/- Price Return | -0.221% | -0.187% | 0.033% | -0.009% | -0.008% | -0.006% |
| Natural Resources Avg | 1.5% | 1.7% | 22.2% | 14.5% | 7.5% | 9.7% |
| MXI Grade (NAV) | D | D | C | C | C | D |
| +/- Category (NAV) | -2.3% | -1.1% | -2.1% | 0.3% | -0.4% | 0.4% |
| MXI Tax-Cost Ratio | na | na | 0.6% | 0.8% | 0.9% | 0.8% |
MXI Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MXI Return (NAV) | 11.2% | 27.0% | -8.3% | 14.5% | -9.2% | 15.4% | 22.2% | 22.1% | -15.8% | 29.6% | 23.5% |
| MXI Return (Price) | 11.3% | 27.1% | -8.2% | 14.4% | -9.1% | 15.1% | 22.3% | 22.2% | -16.0% | 30.3% | 23.5% |
| NAV +/- Price Ret | 0.009% | 0.006% | -0.003% | -0.007% | -0.012% | -0.018% | 0.007% | 0.7% | 1.5% | 2.7% | 0.1% |
| Natural Resources Avg | 14.8% | 23.6% | -2.2% | 7.4% | -0.7% | 25.8% | 12.9% | 19.5% | -16.3% | 20.6% | 27.3% |
| MXI Grade (NAV) | D | C | F | A | D | F | A | B | C | A | C |
| +/- Category | -3.6% | 3.4% | -6.1% | 7.1% | -8.4% | -10.4% | 9.2% | 2.5% | 0.5% | 8.9% | -3.7% |
| Risk Measures | |
| Beta: | 0.95 |
| R-Squared: | 40% |
| Standard Deviation: | 17.6% |
| Category Risk Index: | 1.00 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.46 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.7% |
| Total Assets: | $ 394 Mil |
| Share Class Assets: | $ 394 Mil |
| Turnover: | 11.0% |
| Expense Ratio: | 0.37% |
| Index Fund: | Yes |
| Index Tracked: | S&P Global BMI NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 14.3 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Hsui Jennifer (2012), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 114 |
| % in Top 10 Holdings: | 39.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 61.9% |
Portfolio Allocation |
|
| Domestic Stock: | 37.9% |
| Foreign Stock: | 61.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | au.ishares.com |
| Inception Date: | September 12, 2006 |
Expenses and Fees
| Expense Ratio (%): | 0.37% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.44% |
