IOZ is the iShares Core S&P/ASX 200 ETF. It tracks the S&P/ASX 200, the same index quoted on the evening news, holding the 200 largest companies listed in Australia weighted by their size. It is a passive, low cost fund that has been running since 2010.
The top of the fund looks like the top of the market: BHP, Commonwealth Bank and the other big four banks, followed by CSL, Wesfarmers and Macquarie. Financials and materials together make up more than half the portfolio. Distributions are paid quarterly and usually carry solid franking credits, which can be particularly useful for retirees. There is no currency risk, but you are tied to the health of the banks and commodity prices.
IOZ is often used as the Australian shares core of a portfolio. Its closest peers are A200, STW and the broader 300 company VAS, and the differences between them are small. See VAS vs IOZ, A200 vs IOZ and IOZ vs STW.
IOZ distributions and dividend dates
IOZ pays distributions quarterly, usually going ex-distribution in January, April, July and October, with payment about 12 days after the ex-date.
The latest distribution was $0.4726 per unit (81% franked), ex-distribution on 8 October 2026 and paid on 20 October 2026. To receive it you need to own IOZ before the ex-date.
Its distribution yield over the past 12 months is about 3.4%, with distributions around 75% franked. Distributions vary and past payments are not a guide to future ones.
From ASX announcements, updated nightly. See every ETF in the dividend calendar.
1 year ago$10,2623 years ago$13,6015 years ago$13,895
Value at 30 September 2026 with distributions reinvested, before tax and brokerage.
Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.
IOZ at a glance: strengths and things to watch
👍 Strengths
Low cost. At 0.05% a year it is cheaper than 96% of Australian shares ETFs.
Large and established. $9.7bn under management, number 5 of 508 ETFs in Australia by size.
Money is flowing in. Investors added a net $321m in September (3% of the fund).
Cheap to trade. A bid/ask spread of 0.04%, so buying and selling costs little extra.
Long track record. Listed since 2010, through several market cycles.
⚠️ Things to watch
Nothing stands out against its category.
Worked out from IOZ's fees, size, flows, returns and trend against the 83 Australian shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.
IOZ's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 2.4% below its 12-month high.
Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.
At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.
A300 holds 96% of the same companies as IOZ for 0.02% a year less, which is $20 a year on $100,000. There are 2 cheaper twins in total. See all cheaper alternatives to IOZ →
Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 201 positions, covering 100% of the fund. Compare IOZ's holdings with other ETFs →
Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.
Same holdings is the share of IOZ's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like IOZ →
IOZ vs its closest alternatives
What actually differs between IOZ and the ETFs most like it. Data to 30 Sep 2026.
IOZ charges a management fee (MER) of 0.05% a year, according to the TMX Australia monthly funds report as at 30 September 2026.
How big is IOZ?
IOZ had $9.7bn in funds under management as at 30 September 2026.
How has IOZ performed?
IOZ returned +2.6% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +10.8% a year. Past performance is not a reliable indicator of future performance.
Who manages IOZ?
IOZ is managed by iShares and has been listed since December 2010.
Does IOZ pay monthly?
IOZ pays distributions four times a year, usually going ex-distribution in January, April, July and October. It does not pay monthly. If you want monthly income, see the ETF dividend calendar on ReviewETF for funds that pay every month.
When is the next IOZ distribution?
Based on its usual schedule, IOZ's next distribution should go ex around the start of January (around day 7), with payment about 12 days later. Dates can move, so check iShares' announcements to confirm.
What is IOZ's dividend yield?
IOZ's distribution yield over the past 12 months was about 3.3%. Yields change with the unit price and each payment, and are not a forecast.
Is IOZ franked?
Yes, partly. IOZ's distributions have typically been around 75% franked, because it holds Australian companies that pay tax here. Franking credits can reduce your tax, and in a pension-phase account they can be refunded as cash. Check iShares' annual tax statement for the exact figure.
What does IOZ hold?
IOZ's largest holdings are BHP Group Ltd (10.8%), Commonwealth Bank of Australia (10.3%), National Australia Bank Ltd (4.8%), Westpac Banking Corp (4.7%), ANZ Group Holdings Ltd (4.6%). It holds about 201 investments in total. The biggest sector is financials at 34%. Holdings as at 30 October 2026.
Is there a cheaper alternative to IOZ?
Yes. A300 (Global X Australia 300 ETF) holds about 96% of the same companies and charges 0.03% a year, against 0.05% for IOZ. Check the index and size before switching, and remember selling may trigger capital gains tax.
Disclaimer
This review is general information only and does not take into account your objectives, financial situation or needs. Consider the iShares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.
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