New ETF launches: iShares Nasdaq 100 ETF (IQQ) goes effective

The news: Among new ETF launches in early July, iShares Trust filed Post-Effective Amendment No. 2,890 on July 7, 2026, making the iShares Nasdaq 100 ETF effective that day. The fund trades on Nasdaq under the ticker IQQ. The prospectus stated that the fund had not yet commenced operations. IQQ seeks to track an index of 100 of the largest non-financial companies listed on the Nasdaq Stock Market by market capitalization, the Nasdaq-100. BlackRock Fund Advisors is the adviser. The fund uses representative sampling, holding a sample of securities with similar characteristics to the index rather than necessarily every component. Representative sampling can reduce trading costs but may introduce small differences from index performance, known as tracking difference.

By the numbers:

• Management fee: 0.12%.
• Fee waiver: -0.02%.
• Net expense ratio: 0.10% after the waiver.
• Waiver term: contractual, through July 31, 2027.

Why it matters: The Nasdaq-100 is one of the most heavily tracked equity benchmarks in the ETF market, and BlackRock entering with a dedicated iShares product brings another large issuer into direct competition for that exposure. The 0.10% net cost positions the fund on price, while the waiver structure means the stated fee could change after July 2027 unless the waiver is extended. Investors comparing funds should look at the net figure and the waiver end date together, since the gross management fee of 0.12% is what applies if the waiver lapses. Trading on Nasdaq, the home exchange of the index’s constituents, is also a natural fit for the product.

The big picture: Large issuers continue to fill gaps in their lineups with core index exposures, even in segments where established competitors already hold substantial assets. In those segments, fees, brand and distribution relationships tend to decide where fund flows go, more than product design. A low-cost entrant from the largest ETF issuer can also put pressure on fees across competing products tracking the same index, which benefits cost-sensitive investors even if they never buy the new fund.

What’s next: Watch IQQ’s early asset growth and trading volume relative to existing Nasdaq-100 funds, whether BlackRock extends or changes the fee waiver as the 2027 date approaches, and how competitors respond on pricing.