iShares Transition-Enabling Metals ETF
TMET
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- CEO
- Gareth N. Genner
- Full Time Employees
- 49
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 400 Howard Street San Francisco CA United States of America 94105
- IPO Date
- Jun 12, 2024
- Website
- ishares.com
- Similar Companies
- Business
- iShares Transition-Enabling Metals ETF (TMET) is an exchange-traded fund that seeks to track the investment results of the ICE Clean Energy Transition Metals Index, providing futures-based exposure to metals essential for clean energy technologies and the transition to a low-carbon economy. The fund invests primarily in exchange-traded futures contracts on key transition-enabling metals including copper, aluminum, nickel, cobalt, zinc, platinum, and silver; it also holds collateral such as U.S. Treasury bills, cash equivalents like BlackRock Cash Funds Treasury SL Agency, and short-term instruments from financial institutions including Sumitomo Mitsui Banking Corp., BNP Paribas, Barclays Bank plc, Citigroup Global Markets Inc., Westpac Banking Corp., and Bank of America N.A. Launched on September 27, 2023, and managed by BlackRock iShares with a net expense ratio of 0.48%, TMET trades on Nasdaq and targets investors seeking commodity exposure without physical ownership, with assets under management around $11 million as of late 2025. The ETF operates within the commodities sector, focusing on broad market commodities linked to clean energy applications such as electric vehicles, renewable energy infrastructure, and battery production; its top 10 holdings typically account for over 90% of assets, emphasizing liquidity and index fidelity. Geographically, TMET provides global exposure through futures contracts listed on major exchanges like the LME and CME, with primary collateral in U.S. dollar-denominated securities. BlackRock Fund Advisors, the investment adviser and an affiliate of BlackRock, Inc., is headquartered in San Francisco, California, and oversees the fund as part of the iShares U.S. ETF Trust. In recent developments, TMET has delivered year-to-date total returns exceeding 24% as of late 2025, reflecting strong performance tied to rising demand for clean energy metals amid global decarbonization trends, with one-year returns around 15%. The fund maintained steady operations through 2024 and 2025 without reported acquisitions, partnerships, or structural changes specific to TMET, though BlackRock continued expanding its iShares ETF lineup, including liquid alternatives launches in December 2025. Holdings updates as of December 2025 show heavy allocation to cash and Treasury equivalents (over 66% in BlackRock Cash Funds), alongside futures positions in nickel, zinc, cobalt, copper, aluminum, and platinum, underscoring its collateralized futures strategy.