- All alpha-seeking active ETFs will be
BlackRock branded and all index-based ETFs will remain iShares
branded
BlackRock’s commitment to helping clients build better financial
futures is underscored today in the renaming of three
alpha-seeking, actively managed exchange traded funds (ETFs).
Previously branded iShares, the BlackRock Short Maturity Bond
ETF (NEAR); BlackRock Short Maturity Municipal Bond ETF
(MEAR); and BlackRock Ultra Short-Term Bond ETF (ICSH),
now carry the BlackRock brand to reflect the firm’s premier active
management investment platform. There will be no impact to the
funds’ investment objectives, tickers, CUSIPs, total expense ratios
or share prices.
Going forward, new alpha-seeking active ETFs will be BlackRock
branded and new index-based ETFs will be iShares branded. These
changes demonstrate the firm’s commitment to help clients better
navigate its product offerings and the breadth of BlackRock’s
investment platform.
“Alongside BlackRock’s proud tradition of active management,
iShares has served as the beacon of index investing innovation and
revolutionized exchanged traded products for over two decades,”
said Armando Senra, Head of iShares Americas, BlackRock.
“With more than 900 ETPs globally, differentiating our
alpha-seeking and index-based offerings with clearly delineated
branding is an important step in delivering transparency to our
clients. We are committed to launching new active strategies when
we believe the exposures will add value for clients and have clear
alpha potential.
BlackRock’s suite of alpha-seeking actively managed ETFs is
presently comprised of seven funds, representing more than $9.8
billion1. In October 2020, BlackRock expanded its Megatrends suite
by introducing three alpha-seeking ETFs actively managed by
experienced portfolio managers from BlackRock’s Fundamental Active
Equity franchise. The funds are designed to provide unique exposure
to the structural shifts influencing the future of the global
economy.
BlackRock Rebrands Three Alpha-Seeking Actively Managed
ETFs:
Original Fund Name
Updated Fund Name
Ticker
Portfolio Manager
iShares Short Maturity Bond ETF
BlackRock Short Maturity Bond
ETF
Cboe BZX:NEAR
Scott MacLellan
iShares Short Maturity Municipal Bond
ETF
BlackRock Short Maturity Municipal Bond
ETF
Cboe BZX:MEAR
Kristi Manidis
iShares Ultra Short-Term Bond ETF
BlackRock Ultra Short-Term Bond
ETF
Cboe BZX:ICSH
Richard Mejzak
Existing BlackRock Branded Alpha-Seeking Actively Managed
ETFs
Fund Name
Ticker
Portfolio Manager
BlackRock Future
Health ETF
NYSE:BMED
Erin Xie, PhD
BlackRock Future
Tech ETF
NYSE:BTEK
Tony Kim
BlackRock Future
Innovators ETF
NYSE:BFTR
Phil Ruvinsky
BlackRock U.S. Equity Factor Rotation
ETF
NYSE:DYNF
Philip Hodges
Comparing Index-based and Alpha-Seeking Actively Managed
ETFs
Traditional index-based ETFs seek to track an index,
typically constructed by a third-party index-provider, and
reballanced at a pre-determined time period (e.g. on a semi-annual
or annual basis). Index ETFs publish holdings daily, and the goal
of the fund is to deliver returns in line with their stated
benchmark.
Alpha-seeking actively managed ETFs also publish holdings
daily, but do not seek to track a specific index and have a stated
objective maximizing income, long-term capital appreciation or
total return. Investment decisions are made by BlackRock active
portfolio managers, who make changes to holdings within the ETF in
line with the investment strategy and in pursuit of meeting the
fund's objective – therefore, the frequency in which holdings
change may vary.
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 September 30, 2020, the firm managed approximately $7.81
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit
www.blackrock.com/corporate.
Twitter: @blackrock | 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 $2.32
trillion in assets under management as of September 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 firm2.
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.
The BlackRock funds are actively managed and their
characteristics will vary.
The Funds are actively managed and do not seek to replicate the
performance of a specified index. The Funds may have a higher
portfolio turnover than funds that seek to replicate the
performance of an index.
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 or in
concentrations of single countries.
The Fund's use of derivatives may reduce the Fund's returns
and/or increase volatility and subject the Fund to counterparty
risk, which is the risk that the other party in the transaction
will not fulfill its contractual obligation. The Fund could suffer
losses related to its derivative positions because of a possible
lack of liquidity in the secondary market and as a result of
unanticipated market movements, which losses are potentially
unlimited. There can be no assurance that the Fund's hedging
transactions will be effective.
Funds that concentrate investments in specific industries,
sectors, markets or asset classes may underperform or be more
volatile than other industries, sectors, markets or asset classes
and the general securities market.
Fixed income risks include interest-rate and credit risk.
Typically, when interest rates rise, there is a corresponding
decline in bond values. Credit risk refers to the possibility that
the bond issuer will not be able to make principal and interest
payments. Non-investment-grade debt securities (high-yield/junk
bonds) may be subject to greater market fluctuations, risk of
default or loss of income and principal than higher-rated
securities. There may be less information on the financial
condition of municipal issuers than for public corporations. The
market for municipal bonds may be less liquid than for taxable
bonds. Some investors may be subject to federal or state income
taxes or the Alternative Minimum Tax (AMT). Capital gains
distributions, if any, are taxable. Securities with floating or
variable interest rates may decline in value if their coupon rates
do not keep pace with comparable market interest rates. The Fund’s
income may decline when interest rates fall because most of the
debt instruments held by the Fund will have floating or variable
rates.
The Fund's use of derivatives may reduce the Fund's returns
and/or increase volatility and subject the Fund to counterparty
risk, which is the risk that the other party in the transaction
will not fulfill its contractual obligation. The Fund could suffer
losses related to its derivative positions because of a possible
lack of liquidity in the secondary market and as a result of
unanticipated market movements, which losses are potentially
unlimited. There can be no assurance that the Fund's hedging
transactions will be effective.
Real estate investment trusts ("REITs") are subject to changes
in economic conditions, credit risk and interest rate fluctuations.
Small-capitalization companies may be less stable and more
susceptible to adverse developments, and their securities may be
more volatile and less liquid than larger capitalization
companies.
Securities issued in IPOs have no trading history, and
information about the companies may be available for very limited
periods. In addition, the prices of securities sold in IPOs may be
highly volatile or may decline shortly after the IPO.
The iShares Short Maturity Bond ETF will invest in privately
issued securities that have not been registered under the
Securities Act of 1933 and as a result are subject to legal
restrictions on resale. Privately issued securities are not traded
on established markets and may be illiquid, difficult to value and
subject to wide fluctuations in value. Delay or difficulty in
selling such securities may result in a loss to the iShares Short
Maturity Bond ETF. The fund may invest in asset-backed (“ABS”) and
mortgage-backed securities (“MBS”) which are subject to credit,
prepayment and extension risk, and react differently to changes in
interest rates than other bonds. Small movements in interest rates
may quickly reduce the value of certain ABS and MBS.
The Fund is not a money market fund and is not subject to the
strict rules that govern the quality, maturity, liquidity and other
features of securities that money market funds may purchase. Under
normal circumstances, the Fund’s investments may be more
susceptible than a money market fund is to credit risk, interest
rate risk, valuation risk and other risks relevant to the Fund’s
investments. The Fund does not seek to maintain a stable net asset
value of $1.00 per share. The Fund will hold securities with
floating or variable interest rates which may decline in value if
their coupon rates do not reset as high, or as quickly, as
comparable market interest rates. Although floating rate notes are
less sensitive to interest rate risk than fixed rate securities,
they are subject to credit and default risk, which could impair
their value.
The Funds are distributed by BlackRock Investments, LLC
(together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, sold or promoted
by ICE Data Services, LLC, nor does this company make any
representation regarding the advisability of investing in the
Funds. BlackRock is not affiliated with ICE Data Services, LLC.
©2020 BlackRock, Inc. All rights reserved. iSHARES and
BLACKROCK are trademarks of BlackRock, Inc., or its
subsidiaries in the United States and elsewhere. All other marks
are the property of their respective owners.
1 BlackRock, AUM as of 11/23/20
2 Based on $7.81 trillion in AUM as of 9/30/20
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201202005234/en/
Sally Lyden – Sally.Lyden@BlackRock.com –
+1.646.647.4875
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