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IGM · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is iShares Expanded Tech Sector ETF (IGM) stock moving?
The ETF fell from a $163.41 close on Oct 28 to $139.66 on Nov 5, a 14.5% decline on 2.81M shares traded, about five times the roughly 512K daily average of the prior two weeks. It then recovered to $146.70 by Nov 10, up 5.0% from the low, with Nov 9 gaining 4.0% on 662K shares. The Nov 10 close is still 10.2% below the Oct 28 close. The news feed contains no items about this ETF. All ten items concern IGM Financial Inc. (TSX: IGM), a Canadian wealth and asset manager, which is a different issuer. Its Q3 results, rating changes and fund flows therefore cannot be tied to the ETF's price action, and the available data does not identify what drove the Nov 5 selloff. The recent rebound is modest and comes on mixed volume, so the picture is one of volatility without a confirmed direction.
About iShares Expanded Tech Sector ETF
IGM is a BlackRock iShares ETF, launched in 2001, that holds about 300 US and Canadian technology companies plus some communication services companies, such as Alphabet and Meta. It's called "expanded" because it reaches past the standard tech sector to include internet and interactive media companies, so it is close to a broad tech-and-internet basket.
How the fund works
It tracks the S&P North American Expanded Technology Sector Index. The index weights each company by market value and rebalances every quarter. Because of that weighting, the fund is heavily concentrated: the top 10 holdings make up roughly 55–60% of assets, led by Apple, Microsoft, Nvidia, Broadcom and Alphabet, each around 7–10% except Alphabet, which is about 8% across its two share classes. It has no leverage. The expense ratio is about 0.37% a year, which is higher than some broad tech ETFs. The dividend yield is very small, around 0.1–0.2%, paid quarterly. The fund tends to swing more than the overall market (beta is roughly 1.4 or higher).
What usually moves IGM
- AI and data-center spending
- Semiconductor demand cycles
- Results from mega-cap tech companies (Apple, Microsoft, Nvidia)
- Interest rates and growth-stock valuations
- Digital advertising and software spending