(IEZ) U.S. Oil Equipment - Overview

The iShares U.S. Oil Equipment & Services ETF (IEZ) tracks an index that reflects the performance of U.S. companies providing drilling rigs, well-completion tools, and related services to the oil and gas industry. The fund is required to hold at least 80 % of its assets in the index constituents, with the remaining allocation available for futures, options, swaps, cash, or cash equivalents, and it is classified as a non-diversified equity-energy ETF.

Key metrics as of February 2026: the fund’s expense ratio stands at 0.42 %, its assets under management are roughly $1.1 billion, and the top five holdings-Halliburton, Schlumberger, Baker Hughes, TechnipFMC, and National Oilwell Varco-collectively represent about 38 % of the portfolio. Over the past 12 months, IEZ has returned +9.3 % versus a +7.8 % gain in the broader Energy Select Sector SPDR (XLE), reflecting the recent rebound in oilfield-service demand.

Sector drivers remain tied to crude-oil price dynamics and drilling activity. The U.S. rig count, a leading indicator for equipment demand, rose to 617 rigs in January 2026-the highest level since 2018-while Brent crude averaged $84 per barrel in February, up 15 % year-over-year, supporting higher utilization rates for service firms.

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