The Dominance of AI Leaders in a Premier Global Equity ETF

A select group of U.S. technology behemoths, particularly those driving artificial intelligence innovation, hold commanding positions within the iShares MSCI ACWI ETF. This fund provides investors with comprehensive exposure to global equity markets, and its recent rebalancing by index provider MSCI reflects ongoing shifts in worldwide market capitalization.

The fund has demonstrated strong performance in the current year. As of December 1, 2025, its net asset value (NAV) has delivered a total return of 20.72% year-to-date. The ETF is highly liquid, with an average daily trading volume of 3.566 million shares. Its holdings are designed to represent approximately 85% of the global investable equity market across both developed and emerging economies.

A Concentrated Group of Top Holdings

While the fund is broadly diversified, its largest positions account for a significant portion of assets. The top ten holdings collectively represent about one-quarter of the entire portfolio. The lineup, effective December 1, 2025, is led by AI and technology giants:

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• NVIDIA Corp (NVDA): 4.74%
• Apple Inc (AAPL): 4.55%
• Microsoft Corp (MSFT): 3.73%
• Amazon.com Inc (AMZN): 2.43%
• Alphabet Inc Class A (GOOGL): 1.97%
• Broadcom Inc (AVGO): 1.88%
• Alphabet Inc Class C (GOOG): 1.67%
• Meta Platforms Inc (META): 1.51%
• Tesla Inc (TSLA): 1.32%
• Taiwan Semiconductor Manufacturing Co (TSM): 1.19%

The substantial gains of these leading companies have been a primary contributor to the ETF's overall returns.

Sector Allocation and Key Competitor

A sector breakdown reveals the overwhelming influence of the technology sector, which commands a 27.93% weighting within the portfolio. The financials sector follows at 16.66%, with consumer cyclical stocks comprising 10.20% of assets.

For investors seeking a single fund for global equity allocation, the iShares MSCI ACWI ETF is often compared directly to the Vanguard Total World Stock ETF (VT), which represents its most significant competitor for the title of ultimate global stock fund.