Sometimes, few if any surprises with investments are a good thing. Likewise, predictability is not a negative. Such is life for the iShares U.S. Technology ETF (NYSE:IYW). With a gain of about 1 percent Wednesday, IYW hit a record high and is up 24 percent year-to-date.
Home to 136 stocks, IYW tracks the Dow Jones U.S. Technology Index. That is a cap-weighted benchmark of major U.S. technology companies.
How About Some Apple?
When considering the ascent of Apple Inc. (NASDAQ:AAPL) this year, understanding the corresponding rise in IYW is easy. Shares of the iPhone maker are up nearly 41 percent year to date, helping IYW. The ETF has an 18.5 percent weight to Apple, one of the largest weights to Apple among all ETFs, technology funds or otherwise.
While Amazon.com, Inc. (NASDAQ:AMZN) and Netflix, Inc. (NASDAQ:NFLX) are classified as consumer discretionary stocks, meaning they do not reside in a technology ETF like IYW, the fund still features ample exposure to acronyms such as FAANG and FAAMG.
These Industries Make IYW Tick
Essentially all of IYW's holdings hail from the hardware, software and semiconductor industries. While some investors have recently departed semiconductor ETFs, it cannot be argued that including IYW, nearly 10 technology ETFs hit all-time highs on Wednesday.
In the current quarter, IYW has lost nearly $20 million in assets, but the ETF has added nearly $19 million on a year-to-date basis.
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