BlackRock U.S. Industry Rotation ETF (INRO) Performance
INRO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.0% since Dec 31, 2025
- 1 year
- +14.7% total return
- Since first price
- +46.1% since 2024
INRO trailing returns vs SPY, QQQ, AGG
| Period | INRO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.1% | −2.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.9% | +1.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.3% | +7.0% | +7.8% | +8.4% | −1.5% |
| YTD | +13.0% | +12.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +14.7% | +14.0% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 28, 2024 | +46.1% | +43.7% | — | — | — |
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: INRO vs SPY
From Mar 28, 2024: INRO grew to $14,610, SPY to $14,958.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
INRO returns by calendar year
1 of 1 full years positive. Best 2025 (+16.7%), worst 2025 (+16.7%). 2026 is year to date.
INRO annual returns table
| Year | INRO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.0% | −9.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +16.7% | −20.0% | +17.7% | +20.8% | +7.2% |
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.
INRO largest drawdowns
Now 3.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −20.0% | Apr 8, 2025 | Jun 30, 2025 | 48 days | 4 months |
| Jul 10, 2024 | −10.5% | Aug 5, 2024 | Oct 9, 2024 | 26 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
INRO risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +17.2% |
| Volatility (annualized) | 13.1% |
| Sharpe ratio | 0.96 |
| Sortino ratio | 1.81 |
| Best month | +11.5% |
| Worst month | −6.0% |
| Best 12 months | +32.9% |
| Worst 12 months | +4.5% |
| Positive months | 67% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
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.
INRO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 20 | +4.5% | +16.7% | +32.9% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
INRO performance overview
BlackRock U.S. Industry Rotation ETF (INRO) returned +14.7% over the past year, with distributions reinvested. Since its first recorded price on Mar 28, 2024 it has returned +46.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −20.0%, from Feb 19, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 13.1% a year.
Related: INRO chart, INRO holdings, INRO dividends, INRO valuation. See the INRO overview for the latest quote and fund facts.
INRO performance FAQ
What is the INRO return over the past year?
INRO returned +14.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.0%.
How much would $10,000 invested in INRO be worth?
$10,000 invested in INRO at its first recorded close on March 28, 2024 would be worth about $14,610 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of INRO?
The largest peak-to-trough decline was −20.0% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 30, 2025, 3 months after the bottom.
How volatile is INRO?
Over the past history INRO had an annualized volatility of 13.1% and a Sharpe ratio of 0.96 (excess return over 1–3 month T-bills per unit of risk).