What Is the IEZ ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The iShares U.S. Oil Equipment & Services ETF is a passive sector product that invests in oilfield equipment and services companies, giving investors exposure to the industries that support the energy sector. Sector concentration, the oil price outlook and fees are the key points to check, comparison with other energy ETFs is the main selection criterion, and the trading ticker is IEZ.
SubscribeWhat Is the iShares U.S. Oil Equipment & Services ETF?
This is a passive sector ETF that holds U.S. companies supplying equipment and services to oilfields and offshore platforms, such as drilling, exploration, seismic data services and platform construction, weighted by market capitalization.
It suits sector investors who want to bet on rising oil prices and increased drilling activity while accepting the high volatility of the energy sector.
It is a passive (index-tracking) ETF managed by iShares.
How Does the iShares U.S. Oil Equipment & Services ETF Invest?
| Item | Details |
|---|---|
| Underlying Index | U.S. Oil Equipment & Services Index |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Periodic (per index rules) |
| Dividend Frequency | Quarterly |
| Expense Ratio | 0.37% |
The fund tracks an index of U.S. companies that supply equipment and services to oilfields and offshore platforms, weighted by market capitalization, with a cap on the weight of individual holdings. It is concentrated in industries that support the energy sector, such as drilling, exploration and platform construction, so it is strongly affected by oil prices and drilling activity.
- Concentrated in equipment and services companies that support the energy sector
- Holdings are sensitive to oil prices and drilling activity
iShares U.S. Oil Equipment & Services ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $402.5M, and the expense ratio is 0.37% per year.
Unlike broad energy ETFs, it is concentrated in the oilfield equipment and services industries, so it is more heavily affected by changes in oil prices and drilling activity.
iShares U.S. Oil Equipment & Services ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeOilfield equipment and services companies react sensitively to oil prices, drilling activity and energy investment trends. They can perform strongly when oil prices are firm or drilling activity is rising, but volatility can widen sharply when oil prices are weak or energy investment slows.
Money tends to flow into oilfield services ETFs when expectations of strong oil prices and expanded energy investment rise, and outflows can also come quickly when oil prices weaken or risk aversion intensifies.
iShares U.S. Oil Equipment & Services ETF Pros and Cons
Its strength is the benefit from rising oil prices and increased drilling activity, while its weaknesses are sector concentration, dependence on oil prices and volatility.
💪 Key Strengths
⚠️ Points to Watch
iShares U.S. Oil Equipment & Services ETF Alternative ETFs and Related Products
OIH, XES and others shown in the table are similar ETFs that invest in oilfield services, while XOP and others focus on exploration and production. To invest more broadly in energy, you can also compare the flagship energy sector fund XLE, the broad energy fund IYE and the midstream income fund AMLP. They differ in industry composition, dividend characteristics and fees, so it is best to choose according to your investment view.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 XOP | State Street SPDR S&P Oil & Gas Exploration & Production ETF | $193.56 | -5.0% | $4.6B | 0.35% | 1.61% | +52.6% |
 OIH | VanEck Oil Services ETF | $389.03 | -5.5% | $2.0B | 0.35% | 1.25% | +37.1% |
 FTXN | First Trust Nasdaq Oil & Gas ETF | $41.48 | -4.6% | $1.2B | 0.60% | 1.73% | +51.3% |
 IEO | iShares U.S. Oil & Gas Exploration & Production ETF | $144.51 | -4.4% | $936.9M | 0.37% | 1.51% | +61.8% |
 SGDM | Sprott Gold Miners ETF | $66.58 | +2.6% | $567.7M | 0.46% | 1.09% | +14.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| SLB | SLB Ltd | 0.44% | $52.31 | -2.7% | $77.2B | 25.5 | 2.25% |
| BKR | Baker Hughes Co | 0.44% | $53.05 | -4.0% | $52.7B | 18.2 | 1.76% |
 FTI | TechnipFMC plc | 0.09% | $66.87 | -2.8% | $26.0B | 21.1 | 0.38% |
| HAL | Halliburton Co | 0.09% | $34.61 | -4.3% | $28.6B | 14.5 | 1.97% |
 KGS | Kodiak Gas Services Inc | 0.04% | $44.46 | -5.1% | $4.5B | 53.0 | 4.51% |
 AROC | Archrock Inc | 0.04% | $30.34 | -4.3% | $5.3B | 16.3 | 3.02% |
iShares U.S. Oil Equipment & Services ETF Investor Checkpoints
Here are the points to review before investing in IEZ. As an oilfield services ETF, it is important to check sector concentration, oil price dependence, economic sensitivity and fee level in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fees of the sector ETF | Needs checking |
| ⚒️ Sector Concentration | Confirm concentration in oilfield equipment and services | Concentrated exposure |
| 🛢️ Oil Price Dependence | Check how oil prices affect performance | Sensitive |
| 🔄 Economic Sensitivity | Performance swings along the energy investment cycle | Sensitive |
Because it is concentrated in oilfield equipment and services, volatility can widen sharply when oil prices are weak or energy investment slows. Heavy dependence on oil prices and sensitivity to the energy investment cycle are also risk factors.
It is a passive ETF suited to sector investors who want to bet on rising oil prices and increased drilling activity. For broad energy exposure, a flagship energy ETF may be the better choice, and for concentrated exposure to the industries supporting oilfield services, IEZ can be an alternative.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
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