iShares Cohen & Steers REIT ETF (ICF): Complete Beginner's Guide
Last updated: March 2026 • BlackRock • Real Estate
Expense Ratio
0.33%
AUM
$3.0B
Dividend Yield
3.00%
Inception
2001
Beginner Score
8/10
What is iShares Cohen & Steers REIT ETF?
ICF tracks the Cohen & Steers Realty Majors Index, focusing on the largest and most liquid REITs in the U.S. real estate market. With only about 30 holdings, it is a concentrated bet on blue-chip real estate companies curated by a firm known for REIT expertise. Beginners who want exposure to the highest-quality U.S. real estate names in a single fund will find ICF a focused option.
ICF is managed by BlackRock and has been available since 2001. With $3.0B in assets under management, it's a growing fund that has attracted significant investor interest. The fund charges an expense ratio of 0.33%, which means for every $10,000 you invest, you pay approximately $33 per year in management fees.
ICF at a Glance — Key Metrics
| Expense Ratio | 0.33% |
| Total Holdings | 30 |
| P/E Ratio | 38.0 |
| Beta | 0.92 |
| Dividend Yield | 3.00% |
| AUM | $3.0B |
| Inception Year | 2001 |
| Issuer | BlackRock |
Top 10 Holdings in ICF
ICF holds 30 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | Prologis Inc. | PLD | 10.80% |
| 2 | American Tower Corp. | AMT | 8.80% |
| 3 | Equinix Inc. | EQIX | 7.80% |
| 4 | Crown Castle Inc. | CCI | 5.50% |
| 5 | Simon Property Group | SPG | 5.00% |
| 6 | Public Storage | PSA | 4.80% |
| 7 | Realty Income Corp. | O | 4.50% |
| 8 | Digital Realty Trust | DLR | 4.20% |
| 9 | Welltower Inc. | WELL | 3.80% |
| 10 | VICI Properties Inc. | VICI | 3.50% |
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ICF Performance History
Here's how ICF has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
1.40%
1 Year
11.80%
3 Year
3.50%
5 Year
4.80%
10 Year
6.20%
Beginner Suitability Score: 8/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
ICF scores 8/10 because it has very low fees, shows lower-than-average volatility, focuses on 30 selected holdings, and has been available since 2001, giving it a proven track record.
How to Buy ICF — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "ICF" — Use the search bar in your brokerage platform to find iShares Cohen & Steers REIT ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
Dollar Cost Averaging Into ICF
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With ICF's expense ratio of 0.33%, a $10,000 investment would lose approximately $2,767 to fees over 20 years compared to a zero-fee investment. This is significant — consider whether the fund's strategy justifies these costs.
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Pros and Cons of ICF
Pros
- ✓Curated by Cohen & Steers, a firm widely recognized for REIT investment expertise
- ✓Concentrated in the largest, most liquid REITs ensures high trading quality
- ✓Long track record since 2001 provides extensive performance history
- ✓Focuses on blue-chip property companies with strong balance sheets
Cons
- ✗Higher expense ratio of 0.33% compared to broader, cheaper REIT alternatives
- ✗Only 30 holdings creates significant concentration in top real estate names
- ✗Top-heavy portfolio means a few mega-cap REITs dominate performance
Frequently Asked Questions
Is ICF a good ETF for beginners?▾
ICF has a Beginner Suitability Score of 8/10 on our scale. This makes it a strong choice for new investors due to its low fees and focused strategy.
What is the expense ratio of ICF?▾
ICF has an expense ratio of 0.33%. This means for every $10,000 you invest, you pay approximately $33 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in ICF?▾
You can invest in ICF with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does ICF pay dividends?▾
Yes, ICF pays dividends with a current yield of approximately 3.00%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in ICF?▾
The top holdings in ICF include Prologis Inc. (10.80%), American Tower Corp. (8.80%), Equinix Inc. (7.80%), and more. The fund holds 30 total positions, providing focused exposure to selected companies.