- Morningstar (NASDAQ:MORN -0.2%) is introducing an index family designed to represent the size and style dimensions of the U.S. equity market and nine of BlackRock's (NYSE:BLK) iShare ETFs will start tracking the new Morningstar Broad Style Indexes.
- The underlying data and methodology of the Morningstar Broad Style Indexes are designed to be consistent with the Morningstar Style Box, making the new indexes a complement for informing style-related investment decisions.
- The nine funds in the iShares Morningstar U.S. Equity Style Box ETF suite will begin tracking the new Morningstar Broad Style Indexes.
- The Morningstar Style Box will not experience changes due the launch of the new family if indexes. The Style Box describes securities in terms of the their relative size and value-growth orientation through a visual tool.
- Understanding that different investment styles fit with different risk/reward patterns can help investors and advisers construct portfolios that are consistent with the investor’s return expectations and risk tolerances. The style box provides a tool for assembling and monitoring portfolios on that basis.
- The nine ETFs and ticker changes, expected to occur no earlier than March 19, 2021, are:
Current fund name
New fund name
New underlying index
iShares Morningstar Large-Cap Value ETF
iShares Morningstar Value ETF
Morningstar US Large-Mid Cap Broad Value Index
iShares Morningstar Large-Cap ETF
iShares Morningstar U.S.Equity ETF
Morningstar US Large-Mid Cap Index
iShares Morningstar Large-Cap Growth ETF
iShares Morningstar Growth ETF
Morningstar US Large-Mid Cap Broad Growth Index
iShares Morningstar Mid-Cap Value ETF
Morningstar US Mid Cap Broad Value Index
iShares Morningstar Mid-Cap ETF
Morningstar US Mid Cap Index
iShares Morningstar Mid-Cap Growth ETF
Morningstar US Mid Cap Broad Growth Index
iShares Morningstar Small-Cap Value ETF
Morningstar US Small Cap Broad Value Extended Index
iShares Morningstar Small-Cap ETF
Morningstar US Small Cap Extended Index
iShares Morningstar Small-Cap Growth ETF
Morningstar US Small Cap Broad Growth Extended Index
This was corrected on 06/12/2022 at 12:53 PM. Corrects to BlackRock.