October 23, 2018 – iShares Product Update
ETF name changes
The following 4 iShares ESG ETFs will undergo name changes. Also note that these changes will not result in changes to CUSIPs, existing fund methodologies or objectives.
Fund Name | Ticker | New Fund Name | Index Name |
---|---|---|---|
iShares MSCI USA ESG Optimized ETF | ESGU | iShares ESG MSCI USA ETF | MSCI USA Extended ESG Focus Index |
iShares MSCI USA Small-Cap ESG Optimized ETF | ESML | iShares ESG MSCI USA Small-Cap ETF | MSCI USA Small Cap Extended ESG Focus Index |
iShares MSCI EAFE ESG Optimized ETF | ESGD | iShares ESG MSCI EAFE ETF | MSCI EAFE Extended ESG Focus Index |
iShares MSCI EM ESG Optimized ETF | ESGE | iShares ESG MSCI EM ETF | MSCI Emerging Markets Extended ESG Focus Index |
October 22, 2018 – iShares Product Update
ETF ticker change
On our around, Tuesday, October 23rd, 2018, the ticker for the iShares MSCI Global Impact ETF (current ticker: MPCT) will be changing to ticker, SDG. Please note that this change will not result in changes to CUSIP, existing fund methodologies or objectives.
Fund Name | Ticker | Expense Ratio | Index Name |
---|---|---|---|
iShares MSCI Global Impact ETF | MPCT | 0.49% | MSCI ACWI Sustainable Impact Index |
October 15, 2018 – iShares Product Update
Maturing iShares iBonds Dec 2018 Term Corporate ETF (IBDH)
The last day of trading IBDH, the iShares® iBonds® Dec 2018 Term Corporate ETF on NYSE Arca, Inc. will be December 17, 2018. NYSE Arca, Inc. will suspend trading in the Fund before the open of trading on December 18, 2018 and shares of the Fund will no longer be available for new investments as of this date. Proceeds of the liquidation are currently scheduled to be sent to shareholders on December 20th, 2018. The Fund’s final net asset value (NAV) as calculated on December 17th, 2018, will include any costs associated with the liquidation expected to be borne by the Fund.
Ticker | ETF Name | 05/28/2014 |
---|---|---|
IBDH | iShares iBonds Dec 2018 Term Corporate ETF | 05/28/2014 |
October 4, 2018 – iShares Product Update
Benchmark Changes for Two U.S. — listed iShares Technology Focused ETFs
As recently announced, on or around December 24th, 2018, two iShares ETFs will undergo fund and benchmark name changes. Those funds are as follows:
- The iShares North American Tech ETF (ticker: IGM)
- The iShares North American Tech-Software ETF (ticker: IGV)
Current and Future State of the iShares North American Tech ETF (IGM)
Summary of Changes | Current | New (Effective at the Open December 24) |
---|---|---|
Fund Name | iShares North American Tech ETF | iShares Expanded Tech Sector ETF |
Underlying Index Name | S&P North American Technology Index™ | S&P North American Expanded Technology Sector Index |
Investment Objective | The iShares North American Tech ETF seeks to track the investment results of an index composed of North American equities in the technology sector. | The iShares Expanded Tech Sector ETF seeks to track the investment results of an index composed of North American equities in the technology sector and select North American equities from communication services and consumer discretionary sectors. |
Current and Future State of the iShares North American Tech-Software ETF (IGV)
Summary of Changes | Current | New (Effective at the Open December 24) |
---|---|---|
Fund Name | iShares North American Tech-Software ETF | iShares Expanded Tech-Software Sector ETF |
Underlying Index Name | S&P North American Technology-Software Index™ | S&P North American Technology –Software Index |
Investment Objective | The iShares North American Tech-Software ETF seek to track the investment results of an index composed of North American equities in the software sector. | The iShares Expanded Tech-Software Sector ETF seeks to track the investment results of an index composed of North American equities in the software industry and select North American equities from interactive home entertainment and interactive media and services industries. |
September 28, 2018 – iShares Product Update
Change in the underlying indexes
On Thursday, September 13, 2018 the iShares Trust Board of Trustees approved a change in the underlying indexes for the iShares Edge MSCI USA Size Factor ETF (SIZE) and iShares Edge MSCI Intl Size Factor ETF (ISZE). Beginning on or around Friday, November 30, 2018, the funds will track new underlying indexes. Please note that the CUSIPs will remain unchanged.
SIZE and ISZE’s investment objectives will not change. The ETFs will continue to seek to track the investment results of indexes composed of large- and mid-capitalization stocks with relatively smaller average market capitalization for their designated regions.
The proposed indexes’ key distinction from the current indexes is the utilization of a new approach to weighting index constituents. The new index methodology uses a measure of market capitalization to give larger weights to stocks which are relatively smaller, effectively reducing the influence of each constituent’s market capitalization, or size, on weighting.
Why consider the iShares Edge MSCI USA Factor ETF and iShares Edge MSCI Intl Size Factor ETF?
- Access to large and mid-cap stocks that are exposed to the size factor (relatively smaller market capitalization).
- Index-based access to the size factor, which has historically driven a significant part of companies' risk and return.*
Fund | Ticker | Prior Index | New Index |
---|---|---|---|
iShares Edge MSCI USA Size Factor ETF | SIZE | MSCI USA Risk Weighted Index | SCI USA Low Size Index |
iShares Edge MSCI USA Size Factor ETF | ISZE | MSCI World ex USA Risk Weighted Index | MSCI World ex USA Low Size Index |
* Source: R. Clarke, H. Silva and S. Thorley, ”Minimum-Variance Portfolios in the U. S. Equity Market,” Journal of Portfolio Management, 2006.
September 26, 2018 – iShares Product Update
Share Split
The Board of Trustees of iShares Trust, has authorized a share split for the iShares Russell Mid-Cap ETF for shareholders as of the close of business on October 23, 2018, and payable after the close of trading on October 25, 2018. The 4-for-1 split will lower the share price and increase the number of outstanding shares. The total value is not affected by the split.
Ticker | Fund Name | Expense Ratio | Index Name | Proposed Forward Split Ratio |
---|---|---|---|---|
IWR | iShares Russell Mid-Cap ETF | 0.20% | Russell MidCap Index | 4 for 1 |
August 30, 2018 – iShares Product Update
Expense ratio updates
On 8/31/2018, 12 iShares funds with FYE 4/30/19 will have expense ratio updates. Please refer to the chart below for complete details on these changes.
Ticker | Fund | 2017 Total Annual Fund Operating Expenses | 2018 Total Annual Fund Operating Expenses | Reason for Difference |
---|---|---|---|---|
IDV | iShares International Select Dividend ETF | 0.50% | 0.49% | Breakpoints |
IYT | iShares Transportation Average ETF | 0.44% | 0.43% | Breakpoints |
IYM | iShares U.S. Basic Materials ETF | 0.44% | 0.43% | Breakpoints |
IYK | iShares U.S. Consumer Goods ETF | 0.44% | 0.43% | Breakpoints |
IYC | iShares U.S. Consumer Services ETF | 0.44% | 0.43% | Breakpoints |
IYE | iShares U.S. Energy ETF | 0.44% | 0.43% | Breakpoints |
IYG | iShares U.S. Financial Services ETF | 0.44% | 0.43% | Breakpoints |
IYF | iShares U.S. Financials ETF | 0.44% | 0.43% | Breakpoints |
IYH | iShares U.S. Healthcare ETF | 0.44% | 0.43% | Breakpoints |
IYJ | iShares U.S. Industrials ETF | 0.44% | 0.43% | Breakpoints |
IYW | iShares U.S. Technology ETF | 0.44% | 0.43% | Breakpoints |
IDU | iShares U.S. Utilities ETF | 0.44% | 0.43% | Breakpoints |
August 30, 2018 – iShares Product Update
Benchmark Changes for iShares Global Telecom ETF (IXP)
In response to the GICS reclassification, during September 2018, the underlying index of the iShares Global Telecom ETF (ticker: IXP) will undergo a name change from S&P Global 1200 Telecommunications Services Sector Index to S&P Global 1200 Communication Services Sector Index.
As a result, on or around September 24, 2018, the fund name and objective will change as follows:
- The fund will be renamed iShares Global Comm Services ETF
- The fund will seek to track the investment results of an index composed of global equities in the communication services sector
An additional 4 U.S.-listed iShares ETFs follow the GICS methodology and will be directly affected by the reclassification. Those funds include the iShares Global Sector ETFs (IXN, RXI) which will implement the GICS reclassification during the Sept. 21 quarterly rebalance. Lastly, iShares offers two U.S.-listed, technology focused ETFs (IGM, IGV) that seek to track indexes following the GICS methodology. These funds will be affected by the reclassification and will implement changes during the semi-annual reconstitution on Dec 21.
Current and Future State of the iShares Global Telecom ETF (IXP)
Total # of Constituents | Current | New |
---|---|---|
Telecom (Current) | 28 | N/A |
Comm Services (Post GICS Changes) | N/A | 64 |
Total Index Market Cap | Current | New |
---|---|---|
Telecom (Current) | 1,163,088,213,059 | N/A |
Comm Services (Post GICS Changes) | N/A | 3,694,891,183,141 |
Top 10 Holdings (%) | Current | New |
---|---|---|
Facebook Inc A | N/A | 13.9% |
Alphabet Inc C | N/A | 10.3% |
Alphabet Inc A | N/A | 10.2% |
Tencent Holdings Ltd. | N/A | 7.1% |
AT&T Inc | 19.69% | 6.2% |
Verizon Communications Inc | 18.36% | 5.8% |
Walt Disney Co | N/A | 4.5% |
NetFlix Inc | N/A | 4.2% |
Comcast Corp A | N/A | 4.1% |
SoftBank Group Corp | 6.9% | 2.0% |
Top 5 Countries (%) | Current | New |
---|---|---|
Top 5 Countries (%) | Current | New |
United States | 39.98% | 69.20% |
China | 4.20% | 8.50% |
Japan | 18.82% | 7.40% |
United Kingdom | 7.21% | 4.10% |
Canada | 6.50% | 2.10% |
August 10, 2018 – iShares Product Update
Closing iShares Commodity Optimized Trust (CMDT)
At iShares, we continually review our products to ensure they meet the evolving needs of our clients and, as part of this process, we plan to close the iShares Commodity Optimized Trust (CMDT).
iShares offers broad-based commodities exposure through the iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY) which has similar diversified exposure to 20 different commodities, including agriculture, energy, and metals, without K-1 tax reporting.
Trading in the Trust will be suspended prior to market open on October 11th, 2018. Proceeds of the liquidation are currently scheduled to be sent to shareholders on October 15, 2018.
Ticker | ETF name | Inception date |
---|---|---|
IDV | iShares Commodity Optimized Trust | 8/8/2013 |
July 31, 2018 – iShares Product Update
Underlying indexes and investment objectives
The underlying indexes and investment objectives for four iShares credit funds (CRED, CIU, CSJ, CLY), are expected to be implemented close of market on July 31, 2018 in order to be effective for the market open on August 1, 2018.
The new fund name and investment objective for CLYH (Active) are also expected to be implemented at these times. As previously disclosed, effective August 1, 2018, the tickers for the below five funds will also be changing.
Please refer to the table below, as well as respective prospectuses, for more information regarding these updates.
Former ticker | New ticker | Former fund name | New fund name | New investment objective |
---|---|---|---|---|
CRED | USIG | iShares U.S. Credit Bond ETF | iShares Broad USD Investment Grade Corporate Bond ETF | The iShares Broad USD Investment Grade Corporate Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds |
CIU | IGIB | iShares Intermediate Credit Bond ETF | iShares Intermediate-Term Corporate Bond ETF | The iShares Intermediate-Term Corporate Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities between five and ten years |
CSJ | IGSB | iShares 1-3 Year Credit Bond ETF | iShares Short-Term Corporate Bond ETF | The iShares Short-Term Corporate Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities between one and five years. |
CLY | IGLB | iShares 10+ Year Credit Bond ETF | iShares Long-Term Corporate Bond ETF | The iShares Long-Term Corporate Bond ETF seeks to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities greater than ten years. |
CLYH | IGBH | iShares Interest Rate Hedged 10+ Year Credit Bond ETF | iShares Interest Rate Hedged Long-Term Corporate Bond ETF | The iShares Interest Rate Hedged Long-Term Broad Corporate Bond ETF seeks to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities greater than ten years. |
July 25, 2018 – iShares Product Update
Ticker changes and share splits
Ticker Changes
The tickers for five iShares credit ETFs are changing as of August 1, 2018. As previously reported, the indexes for four of our credit ETFs (tickers: CRED, CSJ, CIU and CLY) will be changing between August 1st – October 4th and we will provide an update as soon as the index migration has been completed.
Former ticker | New ticker | Fund name |
---|---|---|
CRED | USIG | iShares U.S. Credit Bond ETF |
CIU | IGIB | iShares Intermediate Credit Bond ETF |
CSJ | IGSB | iShares 1-3 Year Credit Bond ETF |
CLY | IGLB | iShares 10+ Year Credit Bond ETF |
CLYH | IGBH | iShares Interest Rate Hedged 10+ Year Credit Bond ETF |
Share Splits
The Board of Trustees of iShares Trust, has authorized a share split for three US Credit ETFs (tickers: CRED, CIU and CSJ) for shareholders as of the close of business on August 3, 2018 and payable after the close of trading on August 7, 2018. The 2-for-1 split will lower the share price and increase the number of outstanding shares. The total value of shares outstanding is not affected by the split.
Ticker | Fund name | Expense ratio | Index name | Proposed Forward Split Ratio |
---|---|---|---|---|
CRED | Bloomberg Barclays U.S. Credit Bond Index | 0.06% | Bloomberg Barclays U.S. Credit Bond Index | 2 for 1 |
CIU | iShares Intermediate Credit Bond ETF | 0.06% | Bloomberg Barclays U.S. Intermediate Credit Bond Index | 2 for 1 |
CSJ | iShares 1-3 Year Credit Bond ETF | 0.06% | Bloomberg Barclays U.S. 1-3 Year Credit Bond Index | 2 for 1 |
June 15, 2018 – iShares Product Update
Closing 16 iShares ETFs
At iShares, we continually review our products to ensure they meet the evolving needs of our clients. As part of our review process, we have decided to close 16 iShares ETFs.
After the close of business on August 15, 2018, the funds will no longer accept creation orders. Trading in the funds will be suspended prior to market open on August 16, 2018. Proceeds of the liquidation are currently scheduled to be sent to shareholders on August 22, 2018.
Which funds are closing?
Ticker | ETF Name | Inception Date |
---|---|---|
Currency Hedged | ||
HEUS | iShares Currency Hedged MSCI Europe Small-Cap ETF | 10/29/2015 |
HACW | iShares Currency Hedged MSCI ACWI ETF | 6/29/2015 |
Smart Beta | ||
HEUV | iShares Edge MSCI Min Vol Europe Currency Hedged ETF | 10/29/2015 |
HACV | iShares Edge MSCI Min Vol Global Currency Hedged ETF | 10/29/2015 |
HEMV | iShares Edge MSCI Min Vol EM Currency Hedged ETF | 10/29/2015 |
HEFV | iShares Edge MSCI Min Vol EAFE Currency Hedged ETF | 10/29/2015 |
CNSF | iShares Edge MSCI Multifactor Consumer Staples ETF | 5/10/2016 |
UTLF | iShares Edge MSCI Multifactor Utilities ETF | 5/10/2016 |
ERGF | iShares Edge MSCI Multifactor Energy ETF | 5/10/2016 |
CNDF | iShares Edge MSCI Multifactor Consumer Discretionary ETF | 5/10/2016 |
INDF | iShares Edge MSCI Multifactor Industrials ETF | 5/10/2016 |
MATF | iShares Edge MSCI Multifactor Materials ETF | 5/10/2016 |
FNCF | iShares Edge MSCI Multifactor Financials ETF | 5/10/2016 |
TCHF | iShares Edge MSCI Multifactor Technology ETF | 5/10/2016 |
HCRF | iShares Edge MSCI Multifactor Healthcare ETF | 5/10/2016 |
Fixed Income | ||
HHYX | iShares Currency Hedged International High Yield Bond ETF | 7/28/2015 |
March 19, 2018 – iShares Product Update
Weighting methodology change
Effective Monday, March 19, 2018, the weighting methodology for the underlying index tracked by the iShares Select Dividend ETF (DVY) will change from dividend dollar weighted to dividend yield weighted. Additional diversification and liquidity requirements have also been introduced as part of the change. Below is a summary of the changes (changes are in bold):
Ticker: DVY | |||||
---|---|---|---|---|---|
Fund Name: iShares Select Dividend ETF | |||||
Expense Ratio | Investment Objective | Index | Index Change | Previous Methodology | New Methodology |
0.39% | The iShares Select Dividend ETF seeks to track the investment results of an index composed of relatively high dividend paying U.S. equities. | Dow Jones US Select Dividend Index | Constituent Weighting Scheme Market Capitalization Requirement |
Constituent weightings are assigned annually based on indicated annual dividend. The weight of any individual company is restricted to 10% within the index, as measured at the time of the annual reconstitution. In order to be eligible, a company must have a float-adjusted market capitalization of at least US$ 1 billion (US$ 750 million for current constituents). |
Constituent weightings are assigned annually based on indicated annual dividend yield. The weight of any individual company is restricted to the lower of 10% or five times a constituent’s float-adjusted market capitalization divided by the sum of the float-adjusted market capitalizations of all index constituents. Each Global Industry Classification Standard (GICS®) sector is restricted to 30% within the index, as measured at the time of the annual reconstitution. In order to be eligible, a company must have a float-adjusted market capitalization of at least US$ 3 billion (US$ 2 billion for current constituents). |
March 15, 2018 – iShares Product Update
Fund closure
Effective March 15th, the iShares® iBonds® Mar 2018 Term Corporate ex-Financials ETF (ticker: IBCC) is closing in accordance with its prospectus and investment objective. The fund will cease trading prior to open on Friday, March 16th.
Fund Name | Ticker | CUSIP | Expense Ratio | Benchmark | Exchange |
---|---|---|---|---|---|
iShares® iBonds® Mar 2018 Term Corporate ex-Financials ETF | IBCC | - | 0.10% | Bloomberg Barclays 2018 Maturity High Quality Corporate Index | NYSE Arca |
February 9, 2018 – iShares Product Update
FIBR Merger
- On February 5th, 2018, the iShares Edge U.S. Fixed Income Balanced Risk ETF (FIBR) will reorganize from a transparent active ETF to an index ETF.
- The Fund will change legal entities, from “iShares U.S. ETF Trust” to “iShares Trust”
- The fund will move from single basket to a 3 basket structure with ability to in kind (w/cash option)
Ticker | Name | Expense Ratio | Old Investment Objective | New Investment Objective | Benchmark Name |
---|---|---|---|---|---|
FIBR | iShares Edge U.S. Fixed Income Balanced Risk ETF | 0.25% | The iShares Edge U.S. Fixed Income Balanced Risk ETF seeks total return and preservation of capital | The iShares Edge U.S. Fixed Income Balanced Risk ETF seeks to track the investment results of the Bloomberg Barclays U.S. Fixed Income Balanced Risk Index. | Bloomberg Barclays U.S. Fixed Income Balanced Risk Index |