A Daily Network publication
Explore the network
ETF Daily
The Definitive Daily Read on Exchange-Traded Funds
Wednesday, August 19, 2026The Morning Brief →Sign in
IHEISharesINDEX

iShares U.S. Pharmaceuticals ETF

$108.16+2.71% today
6910852-WK

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 underlying index measures the performance of the pharmaceuticals sector of the U.S. equity market. The underlying index includes pharmaceutical companies such as manufacturers of prescription or over-the-counter drugs or vaccines. The fund is non-diversified.

Price & daily flows
102.996.089.0108.16DAILY NET FLOWFeb 17Apr 17Jun 17Aug 19

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 6M SHOWN · NET +$486M OVER THIS RANGE

The desk’s read

Money keeps arriving — +$186M of net buying over the past month, about 11.0% of the fund's asset base, while the price has returned +27.4% so far this year. At 0.40% a year it is not the cheapest way in — IWM runs the same ground at 0.19%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$1.7Bassets under management
0.40%expense ratio · $40 per $10,000 a year
+$186Mnet flow, trailing month
280Kavg daily volume, 30 days
38holdings · US-domiciled
2006listed April 30, 2006 · beta 0.35
The book at a glance
JNJ+1.0%LLY+4.8%MRK+12.6%BMY+2.5%RPRX+2.9%PFE+3.5%VTRS+0.4%ZTS+4.3%JAZZ+0.3%ELAN+3.6%CORT+1.3%AXSM+1.8%CRNX-0.0%DFTX-2.6%LQDA+1.4%INDV-1.4%OGNEWTX

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1JNJJOHNSON & JOHNSON22.30%$273.70+1.0%
2LLYELI LILLY21.10%$1285.72+4.8%
3MRKMERCK & CO4.63%$152.13+12.6%
4BMYBRISTOL MYERS SQUIBB4.71%$67.73+2.5%
5RPRXROYALTY PHARMA4.42%$61.42+2.9%
6PFEPFIZER4.25%$28.22+3.5%
7VTRSVIATRIS4.15%$16.26+0.4%
8ZTSZOETIS3.64%$77.14+4.3%
9JAZZJAZZ PHARMACEUTICALS3.42%$253.74+0.3%
10ELANELANCO ANIMAL HEALTH2.59%$24.49+3.6%
11CORTCORCEPT THERAPEUTICS2.46%$119.55+1.3%
12AXSMAXSOME THERAPEUTICS2.05%$219.67+1.8%
13CRNXCRINETICS PHARMACEUTICALS1.96%$84.74-0.0%
14DFTXDefinium Therapeutics1.29%$45.03-2.6%
15LQDALIQUIDIA1.20%$74.94+1.4%

The full book, free with one sign-in.

Top 15 positions are open to everyone. Sign in once and every fund’s complete holdings — plus CSV export, watchlists, and flow alerts — unlock across the network.

Sign in to see all 38
Sector weights
Health Care99.83%
Cash and/or Derivatives0.16%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week+5.0%
1 month+7.2%
3 months+23.7%
6 months+19.6%
YTD+27.4%
1 year
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week+$21M
1 month+$186M
3 months+$622M
YTD+$610M
1 year+$763M

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

Monthly net flows
AugSepOctNovDecJanFebMarAprMayJulAug
DAILY CREATION/REDEMPTION RECORDS, TRAILING TWELVE MONTHS
The risk read
17%realized volatility, 30 days (annualized)
18%realized volatility, 1 year
-8.8%deepest fall from a peak, 1 year
at peakwhere it sits vs. that peak today

The top holding is 22.3% of the book; the top ten carry 75%. Spread across 59+ names, it behaves like roughly 9 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
1calls today
1puts today
1.00put/call ratio
359Kshares traded
Most-traded holdings, options premiumBullishBearish
LLY ELI LILLY$150M$88M
MRK MERCK & CO$37M$40M
JNJ JOHNSON & JOHNSON$21M$17M
PFE PFIZER$15M$12M
BMY BRISTOL MYERS SQUIBB$5M$4M

TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES

The case against IHE

Due diligence cuts both ways. These funds sit on the same shelf and beat IHE on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
IJH iShares Core S&P Mid-Cap ETF0.05%$128.4B+$547M-35bp on fee · 76× the assets · +$547M in over the monthHead-to-head
IDEV iShares Core MSCI International Developed Markets ETF0.04%$32.7B+$104M-36bp on fee · 19× the assets · +$104M in over the monthHead-to-head
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF0.04%$23.4B+$520M-36bp on fee · 14× the assets · +$520M in over the monthHead-to-head
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF0.04%$18.7B+$312M-36bp on fee · 11× the assets · +$312M in over the monthHead-to-head
IEFA iShares Core MSCI EAFE ETF0.07%$195.3B+$631M-33bp on fee · 116× the assets · +$631M in over the monthHead-to-head
Sign in to save this to The RecordA timestamped copy for the file — documentation, not advice.
InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
Every weekday · 6:30 a.m. ET

The Morning Brief

The private wealth industry in four minutes, every weekday at 6:30 a.m. ET. Free.