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ETF Odds & Ends: iShares Sector ETFs To Be Updated

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·3 min read
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The past week included several launches, but beyond those, the most notable development was the announcement that iShares would be changing the indexes for its sector ETFs.

The family of 10 ETFs first debuted in 2000, and has tracked indexes that were originally provided by Dow Jones, now S&P Dow Jones Indices, since that time. But as of Sept. 20, the 10 ETFs will adopt indexes derived from the Russell 1000 Index as their benchmarks. The changes are as follows:

  • The iShares U.S. Basic Materials ETF (IYM) will change its index from the Dow Jones U.S. Basic Materials Index to the Russell 1000 Basic Materials RIC 22.5/45 Capped Index.

  • The iShares U.S. Consumer Goods ETF (IYK) will change its name to the iShares U.S. Consumer Staples ETF and its index from the Dow Jones U.S. Consumer Goods Index to the Russell 1000 Consumer Staples RIC 22.5/45 Capped Index

  • The iShares U.S. Consumer Services ETF (IYC) will change its name to the iShares U.S. Consumer Discretionary ETF and its index from the Dow Jones U.S. Consumer Services Capped Index to the Russell 1000 Consumer Discretionary 40 Act 15/22.5 Daily Capped Index.

  • The iShares U.S. Energy ETF (IYE) will change its index from the Dow Jones U.S. Oil & Gas Index to the Russell 1000 Energy RIC 22.5/45 Capped Index.

  • The iShares U.S. Financials ETF (IYF) will change its index from the Dow Jones U.S. Financials Capped Index to the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index.

  • The iShares U.S. Healthcare ETF (IYH) will change its index from the Dow Jones U.S. Health Care Index to the Russell 1000 Health Care RIC 22.5/45 Capped Index.

  • The iShares U.S. Industrials ETF (IYJ) will change its index from the Dow Jones U.S. Industrials Index to the Russell 1000 Industrials 40 Act 15/22.5 Daily Capped Index.

  • The iShares U.S. Technology ETF (IYW) will change its index from the Dow Jones U.S. Technology Capped Index to the Russell 1000 Technology RIC 22.5/45 Capped Index.

  • The iShares U.S. Telecommunications ETF (IYZ) will change its index from the Dow Jones U.S. Select Telecommunications Index to the Russell 1000 Telecommunications RIC 22.5/45 Capped Index.

  • The iShares U.S. Utilities ETF (IDU) will change its index from the Dow Jones U.S. Utilities Index to the Russell 1000 Utilities RIC 22.5/45 Capped Index.

 

First Trust Launch

Last week, ETF.com covered all of the launches that occurred except for one. The First Trust Expanded Technology ETF (XPND) rolled out on June 15. The new fund lists on the NYSE Arca with an expense ratio of 0.65%.

Actively managed XPND covers companies whose business operations are heavily dependent on technology, even if they may not be included in most technology sector classifications. According to its perspectives, it draws its components from the information technology, communication services and consumer discretionary sectors of the Global Industry Classification Standard.

KraneShares ETF Changes Index

Finally, the KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) changed its index from the Solactive Electric Vehicles and Future Mobility Index to the Bloomberg Electric Vehicles Index on Wednesday, after the date was postponed by a day due to foreign holidays.

Contact Heather Bell at hbell@etf.com

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