- CUSIP
- 09290C806
- Issuer
- iShares
- Inception Date
- Dec 14, 2021
- Category
- Tactical Allocation
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $7B
Share Price Chart
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Performance
THRO Performance Chart
iShares U.S. Thematic Rotation Active ETF (THRO) is up 9.5% since the beginning of the year. THRO is currently trading at $42 per share.
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Returns By Period
iShares U.S. Thematic Rotation Active ETF (THRO) has returned 9.46% so far this year and 23.05% over the past 12 months.
iShares U.S. Thematic Rotation Active ETF
- 1D
- -3.17%
- 1M
- 0.64%
- YTD
- 9.46%
- 6M
- 8.68%
- 1Y
- 23.05%
- 3Y*
- 23.13%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
THRO Monthly Returns History
Based on dividend-adjusted daily data since Dec 16, 2021, THRO's average daily return is +0.06%, while the average monthly return is +1.14%. At this rate, an investment would double in approximately 5.1 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2026 with a return of +12.3%, while the worst month was Sep 2022 at -10.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 3 months.
On a daily basis, THRO closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +9.3%, while the worst single day was Apr 4, 2025 at -5.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.04% | -1.90% | -5.19% | 12.29% | 6.81% | -2.88% | 9.46% | ||||||
| 2025 | 3.10% | -2.43% | -6.14% | 0.88% | 6.57% | 4.46% | 1.60% | 1.83% | 2.94% | 2.09% | 0.10% | -0.31% | 15.04% |
| 2024 | 3.91% | 7.03% | 3.01% | -4.23% | 6.43% | 3.91% | 0.10% | 2.73% | 2.62% | -0.69% | 7.15% | -3.11% | 32.03% |
| 2023 | 7.03% | -0.50% | 2.03% | -1.01% | 0.49% | 8.42% | 1.91% | -0.81% | -4.65% | -2.56% | 8.68% | 4.00% | 24.40% |
| 2022 | -5.96% | -3.11% | 3.08% | -9.37% | 0.28% | -9.71% | 11.28% | -3.74% | -10.24% | 10.41% | 6.65% | -5.85% | -17.85% |
| 2021 | 2.14% | 2.14% |
Benchmark Metrics
iShares U.S. Thematic Rotation Active ETF has an annualized alpha of -2.28%, beta of 1.07, and R2 of 0.95 versus S&P 500 Index. Calculated based on daily prices since December 17, 2021.
- This ETF participated in 116.50% of S&P 500 Index downside but only 103.28% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -2.28% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 1.07 and R2 of 0.95, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -2.28%
- Beta
- 1.07
- R²
- 0.95
- Upside Capture
- 103.28%
- Downside Capture
- 116.50%
Expense Ratio
THRO has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
THRO ranks 54 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares U.S. Thematic Rotation Active ETF (THRO) and compare them to S&P 500 Index.
| THRO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | — | — |
| Martin ratioReturn relative to average drawdown | 9.41 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
iShares U.S. Thematic Rotation Active ETF provided a 0.16% dividend yield over the last twelve months, with an annual payout of $0.07 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.07 | $0.06 | $0.25 | $0.14 | $0.19 |
Dividend yield | 0.16% | 0.15% | 0.73% | 0.55% | 0.90% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares U.S. Thematic Rotation Active ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.02 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.01 | $0.06 |
| 2024 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.19 | $0.25 |
| 2023 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.14 |
| 2022 | $0.04 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.19 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares U.S. Thematic Rotation Active ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares U.S. Thematic Rotation Active ETF was 26.54%, occurring on Sep 30, 2022. Recovery took 302 trading sessions.
The current iShares U.S. Thematic Rotation Active ETF drawdown is 3.48%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -26.54%Sep 2022 | 9mo 6d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
2025 selloff2025 | -19.07%Apr 2025 | 2mo 14d | 2mo 23d | 5mo 7dJan 2025 - Jun 2025 |
2026 correction2026 | -10.87%Mar 2026 | 2mo 1d | 16d | 2mo 17dJan 2026 - Apr 2026 |
2024 pullback2024 | -9.28%Aug 2024 | 19d | 18d | 1mo 7dJul 2024 - Aug 2024 |
2024 pullback2024 | -6.49%Apr 2024 | 25d | 26d | 1mo 21dMar 2024 - May 2024 |
Drawdown Indicators
| THRO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.54% | -9.10% | -17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | -2.97% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -6.68% | -1.13% | -5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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