BlackRock Announces Product Updates to Seven iShares ETFs
September 18 2020 - 5:23PM
Business Wire
BlackRock, Inc. (NYSE: BLK) today announced plans to make
product updates to a total of seven iShares ETFs, including stock
splits for five funds and benchmark changes for two funds, as part
of an ongoing process to periodically review its product
lineup.
Stock Splits
The stock splits for the five-iShares ETFs listed below will go
into effect for shareholders of record as of the close of business
on October 14, 2020, payable after the close of trading on October
16, 2020. These splits will lower the share price and increase the
number of outstanding shares. The total value of shares outstanding
is not affected by the split.
Fund Name
Ticker
Inception Date
NAV/Share (as of
9/11/20)
Forward Split Ratio
iShares S&P Small-Cap 600 Growth
ETF
IJT
7/24/2000
$176.52
2 for 1
iShares S&P Small-Cap 600 Value
ETF
IJS
7/24/2000
$124.91
2 for 1
iShares S&P Mid-Cap 400 Value ETF
IJJ
7/24/2000
$137.63
2 for 1
iShares S&P 500 Growth ETF
IVW
5/22/2000
$228.45
4 for 1
iShares S&P Mid-Cap 400 Growth ETF
IJK
7/24/2000
$235.38
4 for 1
Benchmark Changes
BlackRock will also change the underlying indexes for the
following two iShares ETFs, effective on or after December 1, 2020.
The funds’ objectives, fund tickers and fund names will not
change.
Current Index
New Index
iShares MSCI USA Momentum Factor ETF
(MTUM)
MSCI USA Momentum Index
MSCI USA Momentum SR Variant Index
This benchmark change will not impact the investment objective
of the fund which seeks to track the performance of an index that
measures the performance of U.S. large- and mid-capitalization
stocks exhibiting relatively higher momentum characteristics,
before fees and expenses. The new underlying index will employ a
staggered implementation approach to index changes driven by a
rebalance, over a three-day period, as opposed to single-day
rebalancing.
Current Index
New Index
iShares MSCI Philippines ETF
(EPHE)
MSCI Philippines Investable Market
Index
MSCI Philippines IMI 25/50 Index
This benchmark change will not impact the investment objective
of the fund which seeks to track a broad-based index composed of
Philippines equities. The new underlying index is designed to limit
the weight of any single issuer and the weight of certain issuers
in aggregate, mirroring the Internal Revenue Code’s diversification
requirements for regulated companies.
Current shareholders in the above-mentioned funds are not
required to take any actions as a result of these changes.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, our clients turn to us for the
solutions they need when planning for their most important goals.
As of June 30, 2020, the firm managed approximately $7.32 trillion
in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com/corporate
| Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock.
About iShares
iShares unlocks opportunity across markets to meet the evolving
needs of investors. With more than twenty years of experience, a
global line-up of 900+ exchange traded funds (ETFs) and $2.16
trillion in assets under management as of June 30, 2020, iShares
continues to drive progress for the financial industry. iShares
funds are powered by the expert portfolio and risk management of
BlackRock, trusted to manage more money than any other investment
firm1.
Carefully consider the Funds' investment objectives, risk
factors, and charges and expenses before investing. This and other
information can be found in the Funds' prospectuses or, if
available, the summary prospectuses which may be obtained by
visiting www.iShares.com or www.blackrock.com. Read the prospectus
carefully before investing.
Investing involves risk, including possible loss of
principal.
International investing involves risks, including risks related
to foreign currency, limited liquidity, less government regulation
and the possibility of substantial volatility due to adverse
political, economic or other developments. These risks often are
heightened for investments in emerging/developing markets and in
concentrations of single countries.
There can be no assurance that performance will be enhanced, or
risk will be reduced for funds that seek to provide exposure to
certain quantitative investment characteristics ("factors").
Exposure to such investment factors may detract from performance in
some market environments, perhaps for extended periods. In such
circumstances, a fund may seek to maintain exposure to the targeted
investment factors and not adjust to target different factors,
which could result in losses.
The iShares Funds are distributed by BlackRock Investments, LLC
(together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, issued, sold or
promoted by S&P Dow Jones Indices LLC or MSCI Inc., nor do
these companies make any representation regarding the advisability
of investing in the Funds. BlackRock is not affiliated with the
companies listed above.
1 Based on $7.32 trillion in AUM as of 6/30/20
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MEDIA:
Sally Lyden Sally.Lyden@BlackRock.com 646.647.4875 /
646.310.1273
Federico Serrano Federico.Serrano@BlackRock.com
646.352.2218
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