iShares ESG Aware MSCI USA Small-Cap ETF

iShares Trust · 1 share class

U.S. equity index ETF
One fund, 1 share class:ESML
$2.41B NAV
900 positions · as of 2026-05-31 · filed 2026-07-27

Fund classification

Classified from what the fund holds · as of 2026 Q2

iShares ESG Aware MSCI USA Small-Cap ETF is a U.S. equity index ETF that tracks the MSCI USA Small Cap Extended ESG Focus Index. 24% of ESML’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 96% of the fund’s equity).

Asset class
Equity
Region
United States
Management
Index (passive)
Fund type
ETF

Fund profile

As filed in the prospectus · 2025 Q4

The iShares ESG Aware MSCI USA Small-Cap ETF (the Fund ) seeks to track the investment results of an optimized index designed to produce investment results comparable to a capitalization weighted index of small-capitalization U.S. companies, while reflecting a higher allocation to those companies with favorable environmental, social and governance ( ESG ) profiles (as determined by the index provider).

Strategy · summarised

The fund tracks the MSCI USA Small Cap Extended ESG Focus Index using representative sampling, holding a sample of small-cap U.S. companies selected to match the index's characteristics while emphasizing those with favorable environmental, social and governance ratings; the index excludes tobacco, controversial weapons, civilian firearms producers, and certain fossil fuel activities, and reweights to achieve an ESG score at least 10% better than the parent small-cap index. Because the fund samples rather than holds all index constituents, its returns may diverge from the index.

Expenses
0.17%one share class
Share classExpense ratio
ESML0.17%

Portfolio turnover 35.00% · as of 2025 Q4

Allocation

Asset groups · long / short shown separately, never netted · 2026 Q2

105.50%
of net assets
Stocks99.38%
Cash & short-term5.94%
Other0.17%
Derivatives0.01%

These positions come to 105.50% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.

Derivatives are shown at market value, not notional exposure.

Sector allocation

The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2

100%
of net assets
Industrials19.5%
Information Technology17.6%
Financials13.0%
Health Care11.6%
10 smaller38.3%

Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).

Portfolio growth profile

How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2

Revenue growth
24%of stock holdings in top-quartile growers
covering 96% of the fund’s equity

Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.

Latest quarter

What changed since the fund's previous filing

2026Q2 vs 2026Q1: 50 new45 exited

Largest new: DT, WTRG, NTNX, SJM, BXP, DOCU, AAOI, AFG

Largest exited: LITE, COHR, CASY, FTAI, CW, EXACT SCIENCES CORPORATION, CDE, ASTS

Return profile

Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026

1-year
+38.79%
3-year
+59.26%
5-year
+37.14%
Volatility
12.80%
Worst 3-yr fall
-17.51%
Cumulative return· Jun 2023 – Apr 2026

May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.

Holdings

By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page

Issuer%NAVValue
BlackRock Funds III: BlackRock Cash Funds: Institutional; SL Agency Shares5.59%$134.53M
SANDISK CORPORATIONSNDK3.60%$86.66M
TECHNIPFMC PLCFTI0.56%$13.50M
AKAMAI TECHNOLOGIES, INC.AKAM0.45%$10.94M
US FOODS HOLDING CORP.USFD0.45%$10.80M
ASSURANT, INC.AIZ0.45%$10.73M
STERLING INFRASTRUCTURE, INC.STRL0.45%$10.73M
OVINTIV INC.OVV0.43%$10.47M
NVENT ELECTRIC PUBLIC LIMITED COMPANYNVT0.43%$10.36M
XPO, INC.XPO0.41%$9.99M
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Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.

Top 10 positions are 12.82% of net assets, top 25 18.21%, across 897 issuers.

See more of this fund's book

More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.

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