iShares U.S. Regional Banks ETF (IAT) Performance
IAT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.2% since Dec 31, 2025
- 1 year
- +23.9% total return
- 5 years
- +1.1% a year
- 10 years
- +8.1% a year
- Since first price
- +3.4% a year since 2006
IAT trailing returns vs SPY, QQQ, AGG
| Period | IAT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.1% | +3.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.1% | −5.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.0% | +1.7% | +7.8% | +8.4% | −1.5% |
| YTD | +10.2% | +8.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +23.9% | +20.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +111.2%+28.3%/yr | +92.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +5.8%+1.1%/yr | −9.7% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +117.7%+8.1%/yr | +65.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +331.2%+10.2%/yr | +197.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +97.7%+3.5%/yr | +20.0% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMay 5, 2006 | +99.1%+3.4%/yr | +19.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IAT vs SPY
From May 5, 2006: IAT grew to $19,911, SPY to $83,394.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IAT returns by calendar year
11 of 19 full years positive. Best 2021 (+38.9%), worst 2008 (−33.5%). 2026 is year to date.
IAT annual returns table
| Year | IAT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.2% | −17.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +13.1% | −25.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +24.4% | −12.4% | +24.9% | +25.6% | +1.3% |
| 2023 | −8.5% | −44.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.6% | −32.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +38.9% | −13.9% | +28.7% | +27.4% | −1.8% |
| 2020 | −7.6% | −51.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +31.4% | −12.7% | +31.2% | +39.0% | +8.5% |
| 2018 | −17.5% | −29.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +10.4% | −13.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +32.3% | −16.8% | +12.0% | +7.1% | +2.4% |
| 2015 | +1.8% | −14.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +7.5% | −11.8% | +13.5% | +19.2% | +6.0% |
| 2013 | +37.7% | −7.4% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.7% | −13.2% | +16.0% | +18.1% | +3.8% |
| 2011 | −12.7% | −32.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +20.2% | −25.6% | +15.1% | +19.9% | +6.4% |
| 2009 | −10.9% | −52.7% | +26.4% | +54.7% | +3.0% |
| 2008 | −33.5% | −48.7% | −36.8% | −41.7% | +7.9% |
| 2007 | −25.5% | −28.3% | +5.1% | +19.0% | +6.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IAT largest drawdowns
Now 8.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 2007 | −77.2% | Mar 6, 2009 | Dec 1, 2016 | 2.0 years | 9.8 years |
| Jan 14, 2022 | −55.5% | May 4, 2023 | Feb 4, 2026 | 1.3 years | 4.1 years |
| Mar 9, 2018 | −52.1% | Mar 23, 2020 | Jan 12, 2021 | 2.0 years | 2.8 years |
| Feb 6, 2026 | −17.5% | Mar 13, 2026 | Jun 25, 2026 | 35 days | 5 months |
| May 17, 2021 | −13.9% | Jul 19, 2021 | Oct 5, 2021 | 2 months | 5 months |
| Mar 1, 2017 | −13.6% | Sep 7, 2017 | Nov 29, 2017 | 6 months | 9 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IAT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +23.2% | +2.1% | +7.9% | +3.4% |
| Volatility (annualized) | 24.4% | 27.9% | 27.8% | 25.4% |
| Sharpe ratio | 0.80 | 0.09 | 0.34 | 0.21 |
| Sortino ratio | 1.58 | 0.12 | 0.48 | 0.29 |
| Best month | +16.2% | +16.2% | +18.2% | +18.2% |
| Worst month | −10.1% | −29.2% | −29.3% | −32.1% |
| Best 12 months | +61.5% | +61.5% | +102.3% | +102.3% |
| Worst 12 months | −5.4% | −40.3% | −40.3% | −58.2% |
| Positive months | 53% | 50% | 58% | 58% |
| Beta vs S&P 500 | 1.14 | 0.92 | 1.13 | — |
| Correlation with S&P 500 | 0.58 | 0.52 | 0.62 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IAT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 234 | −58.2% | +6.8% | +102.3% | 59% |
| 3-year (a year) | 210 | −26.3% | +7.8% | +27.2% | 71% |
| 5-year (a year) | 186 | −16.2% | +7.7% | +20.0% | 81% |
| 10-year (a year) | 126 | −1.7% | +7.3% | +15.3% | 95% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
IAT performance overview
iShares U.S. Regional Banks ETF (IAT) returned +23.9% over the past year and +8.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +3.4% a year, turning $10,000 into about $19,911. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −77.2%, from Feb 20, 2007 to Mar 6, 2009, and it took 7.7 years to get back to the old high. IAT finished 11 of its 19 full calendar years with a gain; the best year was 2021 (+38.9%) and the worst 2008 (−33.5%). Volatility has been 25.4% a year.
Related: IAT chart, IAT holdings, IAT dividends, IAT valuation. See the IAT overview for the latest quote and fund facts.
IAT performance FAQ
What is the IAT return over the past year?
IAT returned +23.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 20.4%.
What is the average annual return of IAT?
IAT has returned +1.1% a year over 5 years, +8.1% a year over 10 years, +3.4% a year since May 5, 2006 (total return, distributions reinvested).
How much would $10,000 invested in IAT be worth?
$10,000 invested in IAT at its first recorded close on May 5, 2006 would be worth about $19,911 on October 23, 2026 with distributions reinvested.
What was the worst year for IAT?
The worst calendar year was 2008, with a total return of −33.5%. The best was 2021 at +38.9%.
What is the biggest drawdown of IAT?
The largest peak-to-trough decline was −77.2% between February 20, 2007 and March 6, 2009. It recovered to the old high on December 1, 2016, 7.7 years after the bottom.
How volatile is IAT?
Over the past 3 years IAT had an annualized volatility of 24.4% and a Sharpe ratio of 0.80 (excess return over 1–3 month T-bills per unit of risk).