Content and data provided by various third parties and Fidelity − Terms of Use | Help/Glossary
Research > ETFs > ETF / ETP Commentary > 

China to Crypto: July’s Top Performing iShares ETFs

BY | ETF Database
10:49 am ET 08/03/26 | 8 VIEWS
The top five performing iShares ETFs in July highlight strong returns in specialized market segments. Driven by gains in China large-caps, positive Ethereum momentum, and renewed geopolitical tensions leading to higher oil prices, July performance leadership came from a diverse range of asset classes.Key Takeaways The iShares China Large-Cap ETF (FXI) surged 15.11% in July. It was bolstered by a combination of tech stock rallies and defensive stability from state-backed banking giants. The iShares Ethereum Trust ETF (ETHA) and the iShares Staked Ethereum Trust ETF (ETHB) delivered strong returns of roughly 14.9%. This significantly outpaced bitcoin-focused offerings. ETHB uniquely captured additional value through staking yields. Driven by elevated crude oil prices and robust earnings reports, the iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and the iShares Global Energy ETF (IXC) capitalized on geopolitical volatility to secure double-digit gains. Balancing China Tech Growth and Banking StabilityLeading the performance, the iShares China Large-Cap ETF (FXI A) tracking the" FTSE China 50 Net Tax USD Index":https://etfdb.com/index/ftse-china-50-net-tax-usd-index/ returned 15.11% in July. The strong performance was driven by major tech stock rallies and stability from the state-backed banking sector. Large tech holdings such as Alibaba Group (9988) and Tencent Holdings (700) outperformed in July, prompted by strong investor optimism regarding China’s AI advancements. Alibaba is a 8.93% weighting in FXI and climbed 22.7% in July. Meanwhile, Tencent sits at a 8.77% weight and returned 7.37% over the same period. While tech provided the growth engine, China’s state-backed financial giants served as the foundational anchor for FXI’s performance. Collectively, China Construction Bank Corporation (939) at 9.02% and Industrial and Commercial Bank of China (1398) at 6.22% account for 15.24% of fund allocations, with both firms setting new 52-week highs near the end of the month. China Construction Bank Corporation climbed approximately 17.8% over the course of July. Meanwhile, the Industrial and Commercial Bank of China gained roughly 17.1%, as capital rotated from broader market pullbacks into the defensive state-backed banking sector. Investors seeking stable dividend distributions and new market capitalization management policies designed to enhance corporate investment value fueled this rotation. These policies aim to use tools such as dividends, share repurchases, and mergers. The policies give investors both steady income and strong downside protection.Staking Yields and Spot ExposureMoving to digital assets, the iShares Ethereum Trust ETF (ETHA ) and the iShares Staked Ethereum Trust ETF (ETHB) posted standout gains in July, returning 14.95% and 14.88% respectively. These returns significantly outperformed other iShares digital asset offerings, with the firm’s flagship iShares Bitcoin Trust ETF (IBIT ) only gaining 4.27% in July. ETHA provides spot exposure to Ethereum, while bypassing the complexities of direct crypto custody. Taking an income oriented approach, ETHB offers spot Ethereum exposure while generating passive income through staking yields. Staking allows the fund to commit a portion of underlying token reserves to validate transactions on the Ethereum blockchain, earning networked-issued rewards. ETHB stakes between 70% and 95% of its holdings, with investors receiving roughly 82% of gross rewards. After accounting for fees, investors receive a net yield of approximately 1.9% to 2.2%, according to Forbes analysis.Energy Sector Rally Drives July GainsThe energy sector supplied the remaining engine for July top performers. Over the course of the month, the iShares U.S. Oil & Gas Exploration & Production ETF (IEO B+) and the iShares Global Energy ETF (IXC A-) returned 14.18% and 12.81% respectively. The funds capitalized on elevated crude oil prices and strong quarterly earnings reports from global energy companies. Tracking the Dow Jones U.S. Select Oil Exploration & Production Index, IEO targets U.S. companies engaged in the exploration, production, and distribution of oil and gas. The fund uses a market-cap weighted approach with the fund’s three top holdings, ConocoPhillips (COP), Valero Energy (VLO), and Marathon Petroleum (MPC), accounting for roughly 39.4% of IEO’s total assets. These holdings surged in July in response to strong earnings in the energy sector. The firms also benefited from renewed geopolitical tensions in the Middle East leading to higher crude oil prices, and constrained domestic oil supplies directly boosting refining margins. Taking a broader international approach, IXC provides global exposure to the companies that produce and distribute oil and gas by tracking the S&P Global 1200 Energy 4.5/22.5/45 Capped Index. The fund is heavily weighted toward supermajors, with the fund’s top two holdings, Exxonmobil (XOM) and Chevron (CVX), accounting for 27.9% of IXC’s total allocations. The fund similarly benefited from a constrained oil supply and strong earnings across top holdings. With nearly 500 U.S. listed ETFs spanning everything from fixed income to thematic exposures, Blackrock’s iShares lineup continues to provide exposure to nearly every corner of the U.S. ETF market. For more news, information, and analysis, visit the Equity ETF Content Hub.

More Commentary

Value’s Comeback: How VLUE Beats Market-Cap Weighting
BY | ETF Database
10:48 am ET 08/03/26 | 15 VIEWS
This Is One of the Top Bond ETFs of the Past Decade
BY | ETF Database
10:01 am ET 08/03/26 | 23 VIEWS
How Active Bond ETFs Can Beat Second Half Stagflation
BY | ETF Database
8:13 am ET 08/03/26 | 25 VIEWS
View more Commentary

Search Commentary

Enter Keyword(s)
Filter Results

Performance data shown is past performance and is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. Yield and return will vary, therefore you have a gain or loss when you sell your shares. For standard quarterly performance, go to the fund's Snapshot page by clicking on the ETF/ETP's symbol.

ETFs may trade at a premium or discount to their NAV and are subject to the market fluctuations of their underlying investments.

For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain FBS platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF's prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice. BlackRock and iShares are registered trademarks of BlackRock, Inc. and its affiliates.

FBS receives compensation from the fund's advisor or its affiliates in connection with a marketing program that includes the promotion of this security and other ETFs to customers ("Marketing Program"). The Marketing Program creates incentives for FBS to encourage the purchase of certain ETFs. Additional information about the sources, amounts, and terms of compensation is in the ETF's prospectus and related documents. Please note that this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral.

News, commentary (including "Related Symbols") and events are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

Any data, charts and other information provided on this page are intended to help self-directed investors evaluate exchange traded products (ETPs), including, but limited to exchange traded funds (ETFs) and exchange traded notes (ETNs). Criteria and inputs entered, including the choice to make ETP comparisons, are at the sole discretion of the user and are solely for the convenience of the user. Analyst opinions, ratings and reports are provided by third-parties unaffiliated with Fidelity. All information supplied or obtained from this page is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell a particular security, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating ETPs. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation and other individual factors and re-evaluate them on a periodic basis.

Before investing in any exchange traded product, you should consider its investment objective, risks, charges and expenses. Contact Fidelity for a prospectus, offering circular or, if available, a summary prospectus containing this information. Read it carefully.