25 mins
by Kristy Akullian, CFA, Head of iShares Investment Strategy, Americas at BlackRock
May 8, 2026
The Spring edition of our ETF Implementation Guide takes on a new look. As the weather heats up, our “summer body” of work embraces a slimmed down word count, Q&A format, and visual-first approach – better for consuming on the go, or preferably, outdoors.
That’s not to say the world is less complicated because the weather is better. The start of this year has seen the largest oil supply disruption in history. Prior to the conflict in the Middle East, the market was fretting about the death of software (the “DiSaaSter”), and other ways AI could disrupt existing business lines or generally fail to live up to hype.
While there are doubtless risks on the horizon, we also see opportunities: in the resilience of the U.S. economy, the continued strength in corporate earnings, and the relentless growth of AI and near-endless demand for compute. We retain a constructive outlook for risk assets, while building a diversified basket of diversifiers to gird portfolios against a growing array of potential shocks.
Key market views
We remain constructive on equities, particularly U.S. large caps and technology, where cheaper valuations and strong AI-driven earnings growth underpin resilience despite macro and geopolitical volatility.
Internationally, we see opportunities in emerging markets, where much of the inputs for the AI buildout originate, and developed markets for diversification.
In fixed income, we prefer the front end of the curve for its attractive yields. We continue to prioritize income and see value in TIPS and high-quality securitized credit, while remaining cautious on long duration amid persistent inflation and rising term premiums.
We favour a diversified basket of diversifiers, as elevated volatility and shifting correlations have reduced the reliability of traditional asset-class relationships.
For the complete breakdown, read the full report.
ETF Implementation Guide: Spring 2026
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Disclosure
Investing involves risk, including possible loss of principal.
The RBC iShares alliance includes RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited ("BlackRock Canada"). Commissions, trailing commissions, management fees and expenses all may be associated with investing in exchange-traded funds (ETFs). Please read the relevant prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.
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