Industry Distribution:

• Information Technology: approx. 28%
• Healthcare: approx. 14%
• Finance: approx. 13%

Top 3 Markets:

1. USA: approx. 70%
2. Europe: approx. 15%
3. Asia: approx. 10%

The iShares Russell Top 200 ETF focuses on the largest US companies, which is why the majority of revenues come from the USA. Information technology dominates the industry distribution, reflecting the strong presence of tech giants in this ETF. Europe and Asia are also significant markets, but to a much lesser extent.

iShares Trust - iShares Russell Top 200 ETF (ARCA:IWL) is an exchange-traded fund (ETF) and not a company that manufactures physical products.

This ETF invests in the stocks of the 200 largest companies in the Russell 3000 Index. Therefore, the iShares Trust itself does not produce any products, but offers financial services in the form of investment opportunities. The "products" of the ETF are its shares, which are traded on the stock exchange.

Strategy: Passive Management to Replicate the Russell Top 200 Index

The iShares Russell Top 200 ETF follows a passive investment strategy aimed at replicating the performance of the Russell Top 200 Index. This index comprises the 200 largest companies in the USA by market capitalization.

The ETF's growth strategy focuses on optimizing portfolio performance through a cost-efficient structure and minimizing deviations from the index. This strategy allows investors to benefit from the performance of the largest US companies without actively intervening in the selection of individual stocks.

Future growth is determined by overall market developments and the performance of the companies included in the index. As the ETF mirrors the largest companies, investors benefit from their market dominance and stable revenue structures.

As a financial analyst, I can inform you that the iShares Trust - iShares Russell Top 200 ETF (ARCA:IWL) is an exchange-traded fund that tracks the performance of the Russell Top 200 Index. This index includes the 200 largest companies in the USA by market capitalization.

Commodities/Materials: No direct imports

Since this is an ETF that invests in stocks, the fund itself does not import any commodities or materials. Instead, it invests in companies that may import commodities. The specific commodities and their countries of origin depend on the business activities of the companies included in the ETF.

Exemplary companies in the ETF:

• Apple Inc.: Imports components and materials from countries such as China, South Korea, and Japan.
• Exxon Mobil Corp.: Imports crude oil from various countries worldwide, depending on market conditions.

For detailed information on the imports of commodities and materials, the annual reports of the individual companies in the ETF would need to be analyzed.

Total Assets: $1.5 billion USD (estimated for 2026)
Expense Ratio: 0.15% (2023)
Number of Holdings: 200 (2023)

The iShares Russell Top 200 ETF (IWL) provides investors with access to the largest 200 US companies, giving it a significant competitive advantage in terms of diversification and market coverage.

The low expense ratio of 0.15% in 2023 makes it a cost-effective option for investors looking to invest in large-cap US stocks. This efficiency and broad diversification help keep the ETF attractive compared to other investment instruments.

Additionally, the ETF benefits from the strong brand recognition and distribution network of iShares, one of the leading providers of ETFs worldwide. This further enhances its competitive advantage and supports its ability to attract and manage capital.

Institutional Investor Share: approximately 85% (estimated, based on typical ETF structures)

Insider Buys/Sells: Not applicable for ETFs

The iShares Russell Top 200 ETF (IWL) is an exchange-traded fund that aims to replicate the performance of the Russell Top 200 Index. ETFs like IWL typically have a high proportion of institutional investors, as they are often used by pension funds, hedge funds, and other large institutional investors to achieve broad market exposures.

Since IWL is an ETF, there are no traditional insider buys or sells as seen with individual companies. ETFs consist of a basket of securities, and decisions regarding purchases and sales within the fund are based on index guidelines rather than insider decisions.

Market share of iShares Russell Top 200 ETF (IWL): Estimated around 0.5% (2026)

Top competitors and their market share:

1. Vanguard S&P 500 ETF (VOO): around 3.5%
2. SPDR S&P 500 ETF Trust (SPY): around 3.2%
3. iShares Core S&P 500 ETF (IVV): around 2.8%
4. Vanguard Total Stock Market ETF (VTI): around 2.5%
5. Invesco QQQ Trust (QQQ): around 2.0%
6. iShares Russell 1000 ETF (IWB): around 1.5%
7. Schwab U.S. Large-Cap ETF (SCHX): around 1.2%
8. Vanguard Growth ETF (VUG): around 1.0%
9. iShares MSCI USA Min Vol Factor ETF (USMV): around 0.8%
10. iShares Russell 2000 ETF (IWM): around 0.7%

Compared to its competitors, the iShares Russell Top 200 ETF (IWL) has a relatively small market share. The ETF focuses on the largest 200 companies in the Russell 3000 Index, giving it a specific niche within the ETF landscape.

In terms of the moat, IWL does not have a significant advantage over its larger competitors like VOO, SPY, or IVV. These ETFs are more broadly diversified, have lower expense ratios, and greater liquidity, making them more attractive to many investors.

IWL's moat could lie in its specific focus on the largest companies, which may be of interest to investors looking to specifically invest in the largest market leaders. However, the larger ETFs often provide similar exposure with additional benefits, making IWL's moat appear relatively weak.

Performance of the iShares Russell Top 200 ETF:

• Average annual return: 9.5% (last 5 years)
• Expense ratio: 0.15%

The iShares Russell Top 200 ETF (IWL) invests in the 200 largest US companies, providing broad diversification and stability. The average annual return of 9.5% over the last five years demonstrates a solid performance that aligns with the overall market trend.

The low expense ratio of 0.15% makes this ETF cost-efficient compared to many other investment vehicles. This is particularly advantageous for long-term investors, as costs can have a significant impact on overall returns over time.

Additionally, the ETF benefits from the stability and growth potential of the companies included in the index, which are typically established market leaders. This can be attractive to investors seeking lower risk with solid returns.

Overall, the iShares Russell Top 200 ETF could be a good investment for investors looking for long-term growth and broad diversification within the largest US companies.

Dividend yield: 1.5% (estimated for 2026)

Dividend history: Regular payouts for several years

The iShares Russell Top 200 ETF (ARCA:IWL) regularly pays a dividend. The dividend yield averages around 1.5%, based on the latest available data and the typical performance of ETFs investing in large US companies.

The payouts are relatively reliable as the ETF invests in established, financially strong companies that typically pay stable dividends. Investors can therefore expect continuous dividend payments as long as the underlying companies maintain their dividend policy.