BlackRock, Inc. plans to make benchmark – and in some cases name – changes to four iShares ETFs based on an ongoing process to review its product lineup and ensure it meets the evolving needs of its clients.
Investors in the ETFs do not have to take any action and no capital gains distributions are expected as a result of the transition.
iShares MSCI USA Value Factor ETF (VLUE):
Effective on/around August 31, 2015, the iShares MSCI USA Value Factor ETF (VLUE) will seek to track the MSCI USA Enhanced Value Index. There will be no change to its fund name, ticker or investment objective.
Current |
New |
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| Fund Name | iShares MSCI USA Value Factor ETF (VLUE) | No change |
| Underlying Index | MSCI USA Value Weighted Index | MSCI USA Enhanced Value Index |
| Investment Objective | The iShares MSCI USA Value Factor ETF seeks to track the performance of an index that measures the performance of U.S. large- and mid-capitalization stocks with value characteristics and relatively lower valuations. | No change |
iShares MSCI USA Quality Factor ETF (QUAL):
Effective on/around August 31, 2015, the iShares MSCI USA Quality Factor ETF (QUAL) will seek to track the MSCI USA Sector Neutral Quality Index. There will be no change to its fund name, ticker or investment objective.
Current |
New |
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| Fund Name | iShares MSCI USA Quality Factor ETF | No change |
| Underlying Index | MSCI USA Quality Index | MSCI USA Sector Neutral Quality Index |
| Investment Objective | The iShares MSCI USA Quality Factor ETF (the “Fund”) seeks to track the investment results of an index that measures the performance of U.S. largeand mid- capitalization stocks as identified through three fundamental variables: return on equity, earnings variability and debt-to-equity. |
No change |
iShares MSCI USA ETF (EUSA):
Effective on/around August 31, 2015, the iShares MSCI USA ETF (EUSA) will seek to track the MSCI USA Equal Weighted Index and will change its name to iShares MSCI USA Equal Weighted ETF. It will keep the same ticker, EUSA. The fund’s investment objective will change to seeking to track the investment results of an index composed of equal weighted U.S. equities.
Current |
New |
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| Fund Name | iShares MSCI USA ETF (EUSA) |
iShares MSCI USA Equal Weighted ETF (EUSA) |
| Underlying Index | MSCI USA Index | MSCI USA Equal Weighted Index |
| Investment Objective | The iShares MSCI USA ETF seeks to track the investment results of an index composed of U.S. equities. |
The iShares MSCI USA Equal Weighted ETF seeks to track the investment results of an index composed of equal weighted U.S. equities. |
iShares Japan Large-Cap ETF (ITF):
Effective on/around September 4, 2015, the iShares Japan Large-Cap ETF (ITF) will seek to track the JPX-Nikkei Index 400 and will change its name to iShares JPX-Nikkei 400 ETF. The
fund’s investment objective will change to seeking to track the investment results of broadbased benchmark composed of Japanese equities.
Current |
New |
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| Fund Name | iShares Japan Large-Cap ETF (ITF) |
iShares JPX-Nikkei 400 ETF (ITF) |
| Underlying Index | S&P/TOPIX 150 Index | JPX-Nikkei Index 400 Index |
| Investment Objective | The iShares Japan Large- Cap ETF seeks to track the investment results of an index composed of large-capitalization Japanese equities. |
The iShares JPX-Nikkei 400 ETF seeks to track the investment results of a broad based benchmark composed of Japanese equities. |