ISHARES S&P 500 TOP 20 UCITS ETF USD (DIST) is an exchange-traded fund that tracks the S&P 500 Top 20 Select 35/20 Capped index, focusing on the 20 largest companies within the S&P 500. This UCITS-compliant ETF employs physical full replication by holding all index constituents, with the largest company weight capped at 35% and others at 20% to manage concentration risk. It distributes dividends semi-annually to investors, providing periodic income alongside potential capital appreciation from exposure to prominent U.S. large-cap equities. The portfolio is heavily weighted toward technology and telecommunication sectors, alongside consumer discretionary and financials, with nearly all holdings domiciled in the United States. Launched in 2024 and domiciled in Ireland, the ETF is managed by BlackRock's iShares platform, offering European investors targeted access to top-tier American market leaders in a cost-efficient, transparent structure suitable for long-term equity strategies in global portfolios.