iShares U.S. Oil & Gas Exploration… (IEO) Performance
IEO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +71.3% since Dec 31, 2025
- 1 year
- +69.4% total return
- 5 years
- +21.7% a year
- 10 years
- +12.3% a year
- Since first price
- +7.1% a year since 2006
IEO trailing returns vs SPY, QQQ, AGG
| Period | IEO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +13.0% | +13.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +21.2% | +20.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +30.3% | +29.3% | +7.8% | +8.4% | −1.5% |
| YTD | +71.3% | +69.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +69.4% | +66.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +63.9%+17.9%/yr | +52.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +166.4%+21.7%/yr | +131.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +219.2%+12.3%/yr | +149.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +227.7%+8.2%/yr | +141.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +342.9%+7.7%/yr | +220.4% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMay 5, 2006 | +308.1%+7.1%/yr | +194.9% | — | — | — |
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: IEO vs SPY
From May 5, 2006: IEO grew to $40,810, SPY to $83,394.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IEO returns by calendar year
12 of 19 full years positive. Best 2021 (+75.6%), worst 2008 (−41.9%). 2026 is year to date.
IEO annual returns table
| Year | IEO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +71.3% | −16.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.1% | −24.0% | +17.7% | +20.8% | +7.2% |
| 2024 | −1.4% | −22.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.6% | −19.8% | +26.2% | +54.9% | +5.7% |
| 2022 | +57.8% | −30.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +75.6% | −20.7% | +28.7% | +27.4% | −1.8% |
| 2020 | −32.8% | −66.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +9.6% | −25.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.4% | −38.9% | −4.6% | −0.1% | +0.1% |
| 2017 | +0.3% | −23.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +25.0% | −21.1% | +12.0% | +7.1% | +2.4% |
| 2015 | −24.6% | −34.7% | +1.2% | +9.4% | +0.5% |
| 2014 | −12.3% | −34.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +30.8% | −9.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +4.3% | −25.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −3.2% | −34.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +18.7% | −20.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +41.1% | −32.2% | +26.4% | +54.7% | +3.0% |
| 2008 | −41.9% | −65.4% | −36.8% | −41.7% | +7.9% |
| 2007 | +39.6% | −15.5% | +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.
IEO largest drawdowns
Now 0.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 23, 2014 | −79.2% | Mar 18, 2020 | Mar 25, 2022 | 5.7 years | 7.8 years |
| Jun 23, 2008 | −66.4% | Mar 2, 2009 | Mar 28, 2014 | 8 months | 5.8 years |
| Apr 5, 2024 | −31.5% | Apr 8, 2025 | Feb 20, 2026 | 1.0 years | 1.9 years |
| Jun 7, 2022 | −30.6% | Jul 14, 2022 | Nov 7, 2022 | 37 days | 5 months |
| Nov 15, 2022 | −24.3% | Mar 15, 2023 | Mar 14, 2024 | 4 months | 1.3 years |
| May 10, 2006 | −18.9% | Jun 13, 2006 | Dec 1, 2006 | 34 days | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IEO risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +13.3% | +21.2% | +10.6% | +6.9% |
| Volatility (annualized) | 22.7% | 27.5% | 36.1% | 32.1% |
| Sharpe ratio | 0.47 | 0.71 | 0.40 | 0.33 |
| Sortino ratio | 0.82 | 1.25 | 0.64 | 0.50 |
| Best month | +15.8% | +20.9% | +47.2% | +47.2% |
| Worst month | −14.2% | −19.7% | −42.5% | −42.5% |
| Best 12 months | +55.0% | +74.2% | +160.7% | +160.7% |
| Worst 12 months | −20.3% | −20.3% | −59.6% | −59.6% |
| Positive months | 50% | 57% | 56% | 57% |
| Beta vs S&P 500 | -0.07 | 0.49 | 1.24 | — |
| Correlation with S&P 500 | -0.04 | 0.28 | 0.53 | — |
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.
IEO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 234 | −59.6% | +8.4% | +160.7% | 59% |
| 3-year (a year) | 210 | −26.6% | +3.6% | +61.8% | 63% |
| 5-year (a year) | 186 | −19.5% | +4.3% | +37.1% | 71% |
| 10-year (a year) | 126 | −7.2% | +3.1% | +12.8% | 82% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
IEO performance overview
iShares U.S. Oil & Gas Exploration… (IEO) returned +69.4% over the past year and +12.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +7.1% a year, turning $10,000 into about $40,810. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −79.2%, from Jun 23, 2014 to Mar 18, 2020, and it took 2.0 years to get back to the old high. IEO finished 12 of its 19 full calendar years with a gain; the best year was 2021 (+75.6%) and the worst 2008 (−41.9%). Volatility has been 32.1% a year.
Related: IEO chart, IEO holdings, IEO dividends, IEO valuation. See the IEO overview for the latest quote and fund facts.
IEO performance FAQ
What is the IEO return over the past year?
IEO returned +69.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 66.1%.
What is the average annual return of IEO?
IEO has returned +21.7% a year over 5 years, +12.3% a year over 10 years, +7.1% a year since May 5, 2006 (total return, distributions reinvested).
How much would $10,000 invested in IEO be worth?
$10,000 invested in IEO at its first recorded close on May 5, 2006 would be worth about $40,810 on October 23, 2026 with distributions reinvested.
What was the worst year for IEO?
The worst calendar year was 2008, with a total return of −41.9%. The best was 2021 at +75.6%.
What is the biggest drawdown of IEO?
The largest peak-to-trough decline was −79.2% between June 23, 2014 and March 18, 2020. It recovered to the old high on March 25, 2022, 2.0 years after the bottom.
How volatile is IEO?
Over the past 3 years IEO had an annualized volatility of 22.7% and a Sharpe ratio of 0.47 (excess return over 1–3 month T-bills per unit of risk).