INRO vs. IGE

Last updated Apr 1, 2026

Compare and contrast key facts about Blackrock U.S. Industry Rotation ETF (INRO) and iShares North American Natural Resources ETF (IGE).

INRO and IGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INRO is an actively managed fund by BlackRock. It was launched on Mar 26, 2024. IGE is a passively managed fund by iShares that tracks the performance of the S&P North American Natural Resources Sector Index. It was launched on Oct 22, 2001.

Performance

INRO vs. IGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock U.S. Industry Rotation ETF (INRO) and iShares North American Natural Resources ETF (IGE). The values are adjusted to include any dividend payments, if applicable.

INRO vs. IGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INRO Blackrock U.S. Industry Rotation ETF	-4.40%	16.67%	10.88%
IGE iShares North American Natural Resources ETF	25.88%	20.41%	-3.15%

Returns By Period

In the year-to-date period, INRO achieves a -4.40% return, which is significantly lower than IGE's 25.88% return.

INRO

• 1D: 3.22%
• 1M: -4.68%
• YTD: -4.40%
• 6M: -2.68%
• 1Y: 18.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IGE

• 1D: 0.80%
• 1M: 0.69%
• YTD: 25.88%
• 6M: 29.74%
• 1Y: 41.67%
• 3Y*: 20.08%
• 5Y*: 20.61%
• 10Y*: 11.20%

*Multi-year figures are annualized to reflect compound growth (CAGR)

INRO vs. IGE - Expense Ratio Comparison

INRO has a 0.42% expense ratio, which is higher than IGE's 0.39% expense ratio.

INRO

Blackrock U.S. Industry Rotation ETF

IGE

iShares North American Natural Resources ETF

Return for Risk

INRO vs. IGE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INRO

INRO Risk / Return Rank: 60
INRO Sharpe Ratio Rank: 55
INRO Sortino Ratio Rank: 57
INRO Omega Ratio Rank: 61
INRO Calmar Ratio Rank: 60
INRO Martin Ratio Rank: 69

IGE

IGE Risk / Return Rank: 88
IGE Sharpe Ratio Rank: 90
IGE Sortino Ratio Rank: 88
IGE Omega Ratio Rank: 90
IGE Calmar Ratio Rank: 85
IGE Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INRO vs. IGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock U.S. Industry Rotation ETF (INRO) and iShares North American Natural Resources ETF (IGE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	INRO	IGE	Difference
Sharpe ratio Return per unit of total volatility	0.98	1.94	-0.96
Sortino ratio Return per unit of downside risk	1.49	2.41	-0.92
Omega ratio Gain probability vs. loss probability	1.23	1.37	-0.15
Calmar ratio Return relative to maximum drawdown	1.53	2.52	-0.99
Martin ratio Return relative to average drawdown	7.19	10.18	-2.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INRO vs. IGE - Sharpe Ratio Comparison

The current INRO Sharpe Ratio is 0.98, which is lower than the IGE Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of INRO and IGE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INRO	IGE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	1.94	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.31	+0.34

Correlation

The correlation between INRO and IGE is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

INRO vs. IGE - Dividend Comparison

INRO's dividend yield for the trailing twelve months is around 0.77%, less than IGE's 1.85% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INRO Blackrock U.S. Industry Rotation ETF	0.77%	0.68%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IGE iShares North American Natural Resources ETF	1.85%	2.32%	2.54%	2.85%	2.96%	2.92%	3.34%	5.55%	2.68%	2.11%	1.66%	3.08%

Drawdowns

INRO vs. IGE - Drawdown Comparison

The maximum INRO drawdown since its inception was -20.02%, smaller than the maximum IGE drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for INRO and IGE.

Drawdown Indicators

	INRO	IGE	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-67.55%	+47.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.37%	-16.95%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.57%	—
Current Drawdown Current decline from peak	-6.45%	-0.57%	-5.88%
Average Drawdown Average peak-to-trough decline	-2.75%	-19.01%	+16.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	4.20%	-1.57%

Volatility

INRO vs. IGE - Volatility Comparison

Blackrock U.S. Industry Rotation ETF (INRO) has a higher volatility of 5.79% compared to iShares North American Natural Resources ETF (IGE) at 4.86%. This indicates that INRO's price experiences larger fluctuations and is considered to be riskier than IGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INRO	IGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	4.86%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	13.10%	-2.94%
Volatility (1Y) Calculated over the trailing 1-year period	18.69%	21.55%	-2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	22.67%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	25.04%	-7.67%