Looking for broad exposure to the Large Cap Blend segment of the US equity market? You should consider the iShares Russell Top 200 ETF (IWL), a passively managed exchange traded fund launched on September 22, 2009.

The fund is sponsored by Blackrock. It has amassed assets over $2.01 billion, making it one of the larger ETFs attempting to match the Large Cap Blend segment of the US equity market.

Large cap companies typically have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.

Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.

Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF’s expense ratio.

Annual operating expenses for this ETF are 0.15%, making it one of the cheaper products in the space.

It has a 12-month trailing dividend yield of 0.88%.

It is important to delve into an ETF’s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Information Technology sector — about 38.7% of the portfolio. Financials and Telecom round out the top three.

Looking at individual holdings, Nvidia Corp (NVDA) accounts for about 9.26% of total assets, followed by Apple Inc (AAPL) and Microsoft Corp (MSFT).

The top 10 holdings account for about 45.69% of total assets under management.

IWL seeks to match the performance of the Russell Top 200 Index before fees and expenses. The Russell Top 200 Index is a float-adjusted, capitalization-weighted index that measures the performance of the largest capitalization sector of the U.S. equity market.

The ETF has added about 19.26% so far this year and was up about 15.96% in the last one year (as of 12/08/2025). In the past 52-week period, it has traded between $122.36 and $172.47.

The ETF has a beta of 1.00 and standard deviation of 15.34% for the trailing three-year period, making it a medium risk choice in the space. With about 204 holdings, it effectively diversifies company-specific risk.

iShares Russell Top 200 ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, IWL is a good option for those seeking exposure to the Style Box – Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.