TOPC ETF — iShares S&P 500 3% Capped ETF

iShares S&P 500 3% Capped ETF (TOPC)

Updated October 16, 2026.

TOPC is a low-cost ETF. its distribution rate is 1.12%, its trailing-12-month yield is 1.03%, its expense ratio is 0.09%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 43.7% over the past 1.5 years, 3.9 points behind SPY at 47.6%.

This ETF tracks the S&P 500 3% Capped Index, which comprises S&P 500 companies with individual positions limited to a maximum 3% weight, creating a more diversified alternative to the standard S&P 500. It distributes quarterly with a modest current yield and carries a low expense ratio of 0.09%. The fund appeals to equity investors seeking broad U.S. market exposure with reduced concentration risk compared to a traditional large-cap index fund.

TOPC performance versus SPY

Price and return data through 2026-10-16.

Total return is 43.7% over the past 1.5 years, 3.9 points behind SPY at 47.6%. Over the past year its total return — price change plus distributions reinvested — is 16.3%. Its deepest 1-year drawdown was 8.0%.

TOPC key facts

Distribution Safety Score™

50 · Unproven

Issuer

iShares

Asset type

ETF

Asset class

Equity

Inception date

04/15/2025

Expense ratio

0.09%

Distribution rate

1.12%

Distribution frequency

Quarterly

Trailing yield

1.03%

Last close

$34.66 (as of 2026-10-16)

AUM

$33,521,059

Average volume

1831.0

Dividend

$0.097

Ex-dividend date

09/15/2026

Payment date

09/18/2026

Beta

0.9372

How Dividend Vision calculates yield and returns

Distribution rate (1.12%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.03%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: iShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

TOPC risks and drawbacks

TOPC's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.0%.

Who may consider TOPC — and who may not

TOPC may suit someone looking for low-cost broad dividend exposure. It is a weaker fit for investors who need monthly cash flow (TOPC pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on TOPC

• All tickers starting with T

Tagged: S&P500, Large Cap, Index.

Frequently asked questions

More securities from iShares.