iShares Cohen & Steers REIT ETF (ICF): Complete Beginner's Guide
iShares Cohen & Steers REIT ETF (ICF) is a real estate ETF from BlackRock with an expense ratio of 0.33% and $3.0B in assets under management. Our Beginner Suitability Score: 8/10 (Great for Beginners). 5-year annualized return: 4.80%.
Last updated: April 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% |
ICF's top holding is Prologis Inc. (PLD) at 10.80%, followed by American Tower Corp. (AMT) at 8.80% and Equinix Inc. (EQIX) at 7.80%. The top 10 holdings account for 58.70% of the fund's 30 total positions.
View data table
| Rank | 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% |
Want the full framework? This 2-hour ETF course teaches you exactly how to pick, buy, and hold profitable ETFs — from zero to confident investor. Under $15.
Ready to invest? Open an IBKR account in 10 minutes and get free stock. $0 commissions on US ETFs • Fractional shares from $1 • 150+ global markets.
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%
ICF has returned 4.80% annualized over 5 years and 6.20% over 10 years. YTD return is 1.40%.
View data table
| Period | Return |
|---|---|
| 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.
ICF Sector Allocation
Here's how ICF distributes its investments across different sectors of the economy:
ICF's largest sector allocation is Specialized REITs at 31.0%, followed by Industrial REITs at 14.5% and Retail REITs at 13.0%.
View data table
| Sector | Weight |
|---|---|
| Specialized REITs | 31.0% |
| Industrial REITs | 14.5% |
| Retail REITs | 13.0% |
| Residential REITs | 12.0% |
| Health Care REITs | 9.0% |
| Self-Storage REITs | 7.0% |
| Office REITs | 5.5% |
| Hotel & Resort REITs | 4.5% |
| Diversified REITs | 3.5% |
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.
ICF's expense ratio of 0.33% costs $2,768 on a $10,000 investment over 20 years (assuming 8% annual return). Without fees, the investment would grow to $46,610 instead of $43,842.
View data table
| Year | Without Fees | With Fees | Fee Cost |
|---|---|---|---|
| 0 | $10,000 | $10,000 | $0 |
| 5 | $14,693 | $14,470 | $223 |
| 10 | $21,589 | $20,939 | $650 |
| 15 | $31,722 | $30,298 | $1,424 |
| 20 | $46,610 | $43,842 | $2,768 |
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.
What sectors does ICF invest in?▾
ICF's largest sector allocations are Specialized REITs (31.00%), Industrial REITs (14.50%), Retail REITs (13.00%). This sector distribution shows a focus on specialized reits stocks.
How much do ICF's fees cost over time?▾
With an expense ratio of 0.33%, a $10,000 investment in ICF would lose approximately $2,767 to fees over 20 years (assuming 8% annual returns). Consider whether the fund's strategy justifies these costs.