BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

INROvsMLRGETF Comparison

ETF 1

INRO

iShares U.S. Industry Rotation Active ETF

This fund is part of

US Multi-Factor

-0.91%

Full INRO fund page

VS

ETF 2

MLRG

iShares Morningstar U.S. Equity ETF

This fund is part of

US Large Cap

-1.25%

Full MLRG fund page

iShares U.S. Industry Rotation Active ETF (INRO) belongs to the US Multi-Factor segment. iShares Morningstar U.S. Equity ETF (MLRG) is part of the US Large Cap segment. INRO's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, MLRG's top sector exposures are Technology, Finance and Healthcare. INRO is more expensive with a Total Expense Ratio (TER) of 0.42%, versus 0.03% for MLRG. INRO is up 13.91% year-to-date (YTD) with +$487M in YTD flows. MLRG performs worse with 12.99% YTD performance, and -$3M in YTD flows. Run a side-by-side ETF comparison of INRO and MLRG below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

Find out how industry players manage ETF portfolios. Discover our library of Model portfolios

INRO vs MLRG performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	INRO MLRG	+1.19%+1.50%	+1.29%+1.99%	+13.91%+12.99%	+17.36%+16.63%	n/a+82.47%	n/a+78.66%
Flows	INRO MLRG	+$485M+$16M	+$487M+$11M	+$487M-$3M	+$486M+$6M	--$28M	--$139M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	INRO MLRG	+12.71%+11.40%	+14.49%+13.04%	n/a+15.21%	n/a+17.34%
Max drawdown	INRO MLRG	-3.72%-3.12%	-9.29%-9.09%	n/a-19.10%	n/a-25.46%
Max drawdown duration	INRO MLRG	15d53d	75d76d	n/a126d	n/a715d

Trading data

Create an account to view trading data

Join for free

	INRO	MLRG
Last sale 10/16/2026 at 1:30 PM	$36.51
Previous close 10/15/2026	$36.98
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

Create an account to view replication metrics

Join for free

INRO

is actively managed and doesn’t replicate an index

Create an account to view replication quality

Join for free

	INRO	MLRG
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	INRO	MLRG
Last price	$36.51	–
1D performance	-1.27%	–
AuM	$515.49 M	$1.31 B
E/R	0.42%	0.03%

Characteristics

	INRO	MLRG
Management strategy	Active	Passive
Provider	iShares	iShares
Benchmark	-	Morningstar US Large-Mid Cap Index
N° of holdings	300	520
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	March 26, 2024	June 28, 2004
ESG	No	No

More INRO data on Trackinsight

More MLRG data on Trackinsight

Exposure

Countries

INRO

USA

96.47%

Other

3.53%

MLRG

USA

97.4%

Other

2.6%

Sectors

INRO

Technology

44.6%

Finance

11.95%

Consumer Non-Cycl.

10.43%

Healthcare

9.48%

Industrials

8.7%

Other

14.85%

MLRG

Technology

44.97%

Finance

13.56%

Healthcare

9.18%

Consumer Non-Cycl.

8.9%

Industrials

7.61%

Other

15.79%

Diversification

INRO

Total weight of top 15 holdings out of 15

44.67%

MLRG

Total weight of top 15 holdings out of 15

43.34%

Top 15 holdings

Data as of August 31, 2026

INRO

Apple, Inc.

7.90%

NVIDIA Corp.

7.70%

Microsoft Corp.

5.81%

Amazon.com, Inc.

3.83%

Alphabet, Inc.

2.94%

Alphabet, Inc.

2.22%

JPMorgan Chase & Co.

2.21%

Broadcom Inc.

2.06%

Meta Platforms, Inc.

1.82%

Micron Technology, Inc.

1.68%

Tesla, Inc.

1.43%

Eli Lilly & Co.

1.43%

Advanced Micro Devices, Inc.

1.25%

Procter & Gamble Co.

1.22%

Mastercard, Inc.

1.16%

MLRG

NVIDIA Corp.

7.72%

Apple, Inc.

6.93%

Microsoft Corp.

5.62%

Amazon.com, Inc.

3.80%

Alphabet, Inc.

2.96%

Broadcom Inc.

2.57%

Alphabet, Inc.

2.36%

Meta Platforms, Inc.

1.87%

Micron Technology, Inc.

1.61%

Tesla, Inc.

1.55%

JPMorgan Chase & Co.

1.43%

Berkshire Hathaway, Inc.

1.40%

Eli Lilly & Co.

1.38%

Advanced Micro Devices, Inc.

1.14%

ExxonMobil Holdings Corp.

1.00%

Frequently asked questions about INRO and MLRG

INROvsMLRGETF Comparison

iShares U.S. Industry Rotation Active ETF

iShares Morningstar U.S. Equity ETF

INRO vs MLRG performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the INRO and MLRG ETFs performed in 2026?

As of October 16, 2026, INRO is up 13.91% year-to-date (YTD), while MLRG has returned 12.99%. That puts INRO better performer ahead so far this year.

Which ETF is attracting more investor money: INRO or MLRG?

Year-to-date, the INRO ETF saw +$487M in flows, compared to -$3M for MLRG.

Which ETF is more volatile: INRO or MLRG?

Over the past year, INRO had a volatility of 14.49%, while MLRG experienced 13.04%.

Which ETF is bigger: INRO or MLRG?

As of October 16, 2026, INRO holds $515.49 M in assets under management (AUM), while MLRG manages $1.31 B.

What sectors do the INRO and MLRG ETFs invest in?

INRO leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, MLRG focuses on Technology, Finance and Healthcare.

What are the top holdings of the INRO ETF and MLRG ETF?

INRO top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. MLRG holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..

Which ETF is more diversified: INRO or MLRG?

INRO holds 301 securities with 44.67% of its assets in the top 15. MLRG has 526 securities and a top 15 weight of 43.34%.

ETFs’ Next Act: From Access to Selection