ETF · Large Blend

iShares Core S&P Total U.S. Stock Market ETF(ITOT)

$166.26
+0.25%
—
Expense Ratio
$79.6B
Total AUM
—
Holdings
—
Inception
Active Share vs VOO
Closet Indexer
0%20%60%100%
19.1%

AI Look-Through Summary

AI Generated

The iShares Core S&P Total U.S. Stock Market ETF maintains a substantial asset base of approximately $79.6 billion, reflecting significant investor participation in its broad market mandate. Despite the "total" designation implying comprehensive coverage, the portfolio exhibits notable concentration within specific industries, with technology comprising nearly 30% of total assets. This heavy weighting is driven primarily by mega-cap equities; NVIDIA and Apple alone account for over 12% of holdings combined, while Microsoft adds another 5.4%. The top ten positions collectively represent a significant portion of the fund's value, indicating that performance will be heavily influenced by large-cap growth names rather than small or mid-cap stocks.

Geographically, the investment vehicle is exclusively domestic, providing pure exposure to U.S.-listed companies without international diversification benefits. Within this single-country scope, capital allocation favors sectors with high valuations and recent momentum, particularly technology and communication services which together hold nearly 40% of the portfolio weight. Financial services follow as a secondary pillar at roughly 9.6%, while consumer cyclical and healthcare each contribute slightly less than double that percentage. The presence of Berkshire Hathaway shares in the top ten highlights an allocation to large-cap value or conglomerate strategies, though this represents only about 1.4% of the total fund.

Quantitatively, the structure suggests a tilt toward established market leaders rather than a truly egalitarian representation across all U.S. issuers. The dominance of semiconductor and software giants in the top holdings implies that the ETF's beta will likely track closely with these specific subsectors during periods of volatility. While the fund aims to capture the entire S&P Total Market Index, the resulting weightings demonstrate how index mechanics naturally amplify exposure to companies with the largest market capitalizations. Investors analyzing this vehicle must weigh the benefits of low-cost broad access against the reality that a disproportionate share of returns will stem from a narrow group of high-flying technology and communication firms rather than a balanced spread across all American equities.

Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 23:07:26.775544+00

🔍 Theme Alignment Audit

AI GeneratedPurity: 10/100

The investment theme implied by the name "Total U.S. Stock Market" is accurately reflected in the fund's composition, as it encompasses a broad spectrum of industries rather than focusing on a specific sector or strategy. The top holdings include major players from technology, financial services, healthcare, and energy sectors, demonstrating that the portfolio captures diverse segments of the economy consistent with a total market approach. There are no significant outliers or unrelated mega-cap stocks present in the data provided that would suggest the fund is deviating from its stated objective to represent the entire U.S. equity universe.

Sector weights show strong coherence with a broad market index, where technology accounts for nearly thirty percent while financial services and communication services follow closely behind. The distribution across twelve distinct sectors indicates genuine differentiation from thematic funds that typically concentrate heavily in one area, confirming that the fund maintains wide exposure rather than relying on narrow trends. With a top-ten concentration of 34.6%, the portfolio avoids excessive reliance on individual large-cap stocks while still acknowledging their significant weight within the broader market index it tracks. This structure supports the assertion that the ETF serves as a comprehensive proxy for U.S. equities without artificial constraints or thematic distortions.

AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-19 16:44:23.892293+00

⚠️ Systemic Risk Synthesis

AI Generated

The newly disclosed risk factors from the top holdings of iShares Core S&P Total U.S. Stock Market ETF reveal a distinct cluster of systemic threats centered on regulatory expansion and operational cost escalation. A primary macro-level concern is the convergence of compliance burdens related to climate change regulations, data privacy requirements, and artificial intelligence governance across multiple large-cap technology firms. These disclosures indicate that as governmental oversight tightens in these specific domains, companies face potential material adverse impacts on their financial conditions and results of operations due to increased expenditures and constrained business flexibility.

The concentration of exposure within the fund's largest positions amplifies this correlated downside risk significantly. With NVIDIA holding a 6.8% weight and facing simultaneous risks from climate regulation, cybersecurity costs, and AI governance alongside Apple at 6.1%, Microsoft at 5.4%, Amazon at 3.4%, Alphabet entities at over 2.7% combined, the fund's performance is highly sensitive to shifts in these regulatory landscapes. The fact that such critical risk categories are flagged by nearly every top holding suggests a lack of diversification against policy-driven headwinds; if regulators impose stricter standards or enforcement actions across this sector simultaneously, the aggregate impact on the ETF could be substantial due to the high correlation of these specific vulnerabilities among its largest constituents.

While systemic regulatory trends dominate the current disclosures, company-specific risks remain relevant for weighted positions. For instance, NVIDIA's unique exposure to three distinct emerging regulatory fronts—climate, cyber, and AI—creates a concentrated risk profile that differs from peers who may only face one or two of these challenges. Similarly, while other top holdings like JPMorgan Chase or Exxon Mobil are present in the portfolio, their specific newly added risks have not been detailed in this dataset; however, the sheer weight of technology giants facing overlapping compliance costs means any adverse realization of these factors would disproportionately affect the fund's overall trajectory compared to a more balanced allocation.

Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-23 17:32:53.89057+00

🏢 Sector Analysis

AI Generated

The sector allocation of the iShares Core S&P Total U.S. Stock Market ETF reveals a distinct tilt toward growth-oriented industries, with technology dominating at nearly 30% of assets under management. This heavy weighting in tech is further amplified by an extreme concentration within the top ten holdings, which collectively represent over one-third of the portfolio's value and are led entirely by large-cap names like NVIDIA, Apple, Microsoft, Amazon, and Google. Such a structure indicates that while the fund aims to capture broad market exposure, its performance will be disproportionately influenced by mega-cap technology stocks rather than providing an equally balanced representation across all economic sectors. The significant gap between the largest sector and others suggests the underlying index methodology heavily favors companies with high market capitalizations within specific industries, potentially skewing results toward secular growth trends at the expense of value or defensive plays found in utilities, real estate, or basic materials.

This allocation profile inherently introduces concentration risk that diverges from a theoretically diversified basket meant to mirror the entire U.S. equity universe. Although the fund holds hundreds of individual securities across eleven sectors, the effective diversification is compressed because a small number of entities drive the majority of returns and volatility. The presence of multiple top-five holdings within the same sector exacerbates this risk, meaning adverse moves in the technology space could disproportionately impact the overall portfolio value despite claims of broad market coverage. Conversely, underperforming assets in smaller sectors like energy or real estate may have a negligible effect on total performance due to their low weightings. Ultimately, the fund's construction reflects an investment thesis that prioritizes capturing the momentum and scale advantages of dominant industry leaders while accepting that true sector neutrality is compromised by these inherent index biases toward large-cap growth equities.

AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-21 17:21:56.473986+00

Flow Driver Analysis

2-Step Circle

Which larger ETFs share ITOT's holdings — and mechanically drive its price through index rebalancing flows?

Approximately 100% of ITOT's weight flows through these larger ETFs

Driver ETFAUMExpenseShared StocksWeight Overlap
SCHBSchwab U.S. Broad Market ETF$37B—226699.5%
SCHXSCHX$61B—74693.4%
URTHiShares MSCI World ETF$7B—54391.8%
ACWIiShares MSCI ACWI ETF$28B—54391.8%
IVViShares Core S&P 500 ETF$762B0.03%50589.7%

100% of ITOT's portfolio by weight is also held by SCHB. When SCHB receives inflows, it mechanically buys these shared stocks — dragging ITOT's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofITOT's weight.

Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.

ETF Look-Through Dashboard

Replaces $249/yr Morningstar

Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.

26.8x
Weighted P/E
12.56x
Weighted P/B
1.13%
Dividend Yield
$1.4T
Wtd Avg Market Cap

Weighted metrics calculated based on 84% of fund assets with available data.

Herfindahl-Hirschman Concentration Index

01000200030004000173
Well Diversified
Top 5: 24.5%Top 10: 34.6%

Morningstar-Style Box

Value
Blend
Growth
Large
Mid
Small
Large Growth

Sector & Cap Explorer

Technology29.6%Other17.7%Financial Services9.5%Communication Services9.5%Consumer Cyclical8.8%Healthcare8.0%Industrials5.9%Consumer Defensive4.1%Energy2.5%Real Estate1.6%Basic Materials1.0%
Visualization Mode

ETF Fundamental Radar

Total Analysis
75% Weight
Market Cap
Mega
Risk Profile
Elevated

Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.

Piotroski F-Score (Operational Health)

Score 0-9: Measures Profitability, Leverage, and Efficiency

↑ Weight (%)100%80%60%40%20%
3%
0–3 Weak
48%
4–6 Average
23%
7–9 Strong

Based on 75% of fund weight with Piotroski data.

Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.

Dividend Safety True-Up

Deterministic
35%
Wtd FCF Payout Ratio
0.86%
TTM Yield
Very Safe
Dividend Durability
35% of FCF
0% (retains all cash)50%100% (pays out everything)

The dividend-paying companies inside ITOT collectively pay out 35% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 58% of fund weight in dividend-paying stocks.

FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.

Earnings vs. Price Decomposition

Proprietary
+28.8%
ETF 1Y Return
+35.1%
Wtd Earnings Growth
-6.4%
Multiple Contraction
Earnings

ITOT is up 28.8% over the last 12 months. The underlying weighted earnings growth of its constituents is +35.1%. Despite earnings growth, valuations have contracted by 6.4% — the market is paying less per dollar of earnings than a year ago.

Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 74% of fund weight with earnings data. Not investment advice.

Value Creation Map

ROIC vs WACC

What percentage of ITOT's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?

80% Creators
20% Destroyers
Value Creators (ROIC > WACC)54.7%
Value Destroyers14.0%

Of ITOT's analyzed weight, 80% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 20% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.

ROIC-WACC spread for 69% of fund weight with available data. Not investment advice.

Passive Crowding Score

MODERATE

How much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.

36/ 100
Wtd Avg Passive Ownership10.8%
Most Crowded HoldingINTU (20.6%)
Least CrowdedIE00B8KQN827 (1.6%)
Coverage65% of fund weight
0 — Low255075100 — Extreme

ITOT has a Passive Crowding Score of 36/100. On average, 10.8% of the market capitalization of ITOT's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.

Passive $ = Σ(ETF AUM × holding weight) across all 52 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.

Under the Hood — Top 15 Constituents

Top 10 Concentration34.6%
#TickerCompanyWeightP/EF-Score
1NVDA
NVIDIA Corp.
Technology
6.85%
32.4x4/9
2AAPL
Apple, Inc.
Technology
6.07%
37.7x8/9
3MSFT
Microsoft Corp.
Technology
5.43%
26.8x5/9
4AMZN
Amazon.com, Inc.
Consumer Cyclical
3.39%
31.7x6/9
5GOOGL
Alphabet, Inc.
Communication Services
2.75%
29.0x6/9
6AVGO
Broadcom, Inc.
Technology
2.47%
86.9x8/9
7GOOG
Alphabet, Inc.
Communication Services
2.21%
28.7x6/9
8META
Meta Platforms, Inc.
Communication Services
2.17%
23.0x5/9
9TSLA
Tesla, Inc.
Consumer Cyclical
1.91%
399.8x5/9
10BRKB
Berkshire Hathaway, Inc.
1.39%
——
11JPM
JPMorgan Chase & Co.
Financial Services
1.33%
14.3x3/9
12066922519
BlackRock Funds III
1.29%
——
13LLY
Eli Lilly & Co.
Healthcare
1.29%
39.2x7/9
14V
Visa, Inc.
Financial Services
0.89%
28.5x6/9
15XOM
Exxon Mobil Corp.
Energy
0.77%
24.5x5/9
The bottom 2481 stocks in ITOT account for only 59.8% of the total fund weight.Only the top 50 holdings are shown. Total holdings: 2,496.

Historical Holdings Snapshots

Browse how ITOT’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.

2026-05-24

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

2026-05-23

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

2026-05-22

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

2026-05-21

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

2026-05-20

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

2026-05-19

15 holdings · 40.2% tracked weight
#TickerWeightSharesMarket Value
1NVDA6.85%29,409,558$5.5B
2AAPL6.07%17,884,385$4.9B
3MSFT5.43%8,993,939$4.3B
4AMZN3.39%11,775,692$2.7B
5GOOGL2.75%7,035,255$2.2B
6AVGO2.47%5,715,758$2.0B
7GOOG2.21%5,634,708$1.8B
8META2.17%2,636,053$1.7B
9TSLA1.91%3,401,466$1.5B
10BRKB1.39%2,217,828$1.1B
11JPM1.33%3,294,436$1.1B
120669225191.29%1,036,390,952$1.0B
13LLY1.29%961,159$1.0B
14V0.89%2,039,222$715.2M
15XOM0.77%5,099,309$613.7M

Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.

Risk Profile

18.5%
Annual Volatility
1.49
Sharpe (1Y)
-14.1%
Max Drawdown (5Y)

Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.

Fama-French 5-Factor Exposure

Academic factor model decomposition — what's really driving this ETF's returns.

0.99
Market β
+0.007
Size (SMB)
Neutral
+0.004
Value (HML)
Neutral
-0.005
Profit (RMW)
Neutral
+0.031
Invest (CMA)
Neutral
Alpha (annual): -0.94%
R²: 99.8%of variance explained by 5 factors

Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.

Price Chart with Moving Averages

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What Drove ITOT Today?

Daily return attribution — which holdings contributed most (and least) to the fund's move.

Fund move:+0.25%(2026-06-02)

Top Contributors

AAPL
+0.076%
TSLA
+0.037%
QCOM
+0.032%

Top Detractors

AMZN
-0.027%
GOOGL
-0.033%
NVDA
-0.130%

Attribution = holding weight × stock daily return. Only the top contributors and detractors are shown.

Technical Setup

AI Generated

The current trading level of $162.93 for the iShares Core S&P Total U.S. Stock Market ETF reflects a broad exposure to large-cap equities, positioning the instrument within the Large Blend sector where valuation metrics often mirror wider market fundamentals. Without specific drawdown data or volatility coefficients provided in the immediate dataset, it is impossible to quantify the recent stress levels or the magnitude of peak-to-trough declines that typically define risk dynamics. The absence of these quantitative measures prevents a definitive assessment of whether any observed momentum stems from structural economic shifts or fragile sentiment driven by temporary market dislocations. Fundamental backdrops for total U.S. stock markets generally correlate with macroeconomic cycles, yet technical indicators alone cannot confirm if the current price action represents a sustainable trend or a precarious extension. In an environment where volatility and drawdown history are not explicitly detailed, distinguishing between resilient growth patterns and speculative bubbles becomes inherently difficult based solely on the point-in-time price of $162.93. The interplay between sector composition and market-wide risk factors suggests that investors must evaluate external economic data alongside this technical snapshot to gauge true momentum strength. Ultimately, the limited dataset offers a single price coordinate rather than a comprehensive view of risk-adjusted performance or trend durability. Determining whether the current trajectory is robust or susceptible to reversal requires integrating missing variables such as historical volatility ranges and recent maximum drawdowns into the analysis framework. Readers are encouraged to seek additional technical confirmations before forming conclusions

Underwater (Drawdown from Peak)

How far below the all-time high the price has been over time. Deeper = more pain for holders.

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Rolling 60-Day Beta vs S&P 500 (VOO)

How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.

Loading beta chart...
Rolling Beta Market (β = 1.0)

Yield & Income

0.86%
TTM Yield
—
30-Day SEC Yield
—
5Y Div CAGR

Sector Drift Over Time

How ITOT’s sector allocation has shifted across snapshots. Use the slider to travel through time.

2026-05-2457 snapshots
Technology29.6%
Other17.7%
Financial Services9.5%
Communication Services9.5%
Consumer Cyclical8.8%
Healthcare8.0%
Industrials5.9%
Consumer Defensive4.1%
Energy2.5%
Utilities2.0%
Real Estate1.6%
Basic Materials1.0%
2026-03-262026-05-24

Active Conviction Tracker

Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.

No position changes detected between snapshots.

AUM & Capital Flow Tracker

Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.

Total Net Assets
$81.14B
Est. AUM Change (90d)
+$7.62B
Price Change (90d)
+10.14%
Filing Snapshots
1
01-2302-1303-0903-3004-2105-1206-02$69.19B$76.00B$82.80B
Estimated AUMTNA Filing Date

Estimated AUM derived from the latest SEC N-PORT filing TNA ($81.14B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).

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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.

SecuritiesDB is for informational purposes only. Not investment advice.