Daily ETF Watch: New iShares Fees, Tickers

iShares alters tickers, expense ratios on several funds.

iShares announced that the fees on 24 of its ETFs had been reduced as of Sept. 1 by 1 basis point; it also said that the focus and ticker of another fund would be changed as of Sept. 2.

Lower Fees

The fee reductions are the organic result of increased assets in the funds rather than any policy change by iShares. A note accompanying the expense ratio information for the funds on the iShares website explains that fees are automatically reduced or increased in different groups of iShares funds as their collective assets under management grow or shrink.

“On any given day the management fee, and thus the expense ratio, may vary from what is shown [on the iShares website] and from what is in the fund’s prospectus,” the note said.

While the fee for the iShares Select Dividend ETF (DVY | A-61) fell from 0.40 percent to 0.39 percent, the remainder of the funds were priced at 0.46 percent and have since seen their expense ratios fall to 0.45 percent as of Monday:

• iShares Transportation Average ETF (IYT | B-66)
• iShares U.S. Aerospace & Defense ETF (ITA | A-81)
• iShares U.S. Basic Materials ETF (IYM | A-68)
• iShares U.S. Broker-Dealers ETF (IAI | B-68)
• iShares U.S. Consumer Goods ETF (IYK | A-79)
• iShares U.S. Consumer Services ETF (IYC | A-91)
• iShares U.S. Energy ETF (IYE | A-98)
• iShares U.S. Financial Services ETF (IYG | A-84)
• iShares U.S. Financials ETF (IYF | A-95)
• iShares U.S. Healthcare ETF (IYH | A-95)
• iShares U.S. Healthcare Providers ETF (IHF | A-65)
• iShares U.S. Home Construction ETF (ITB | A-61)
• iShares U.S. Industrials ETF (IYJ | A-91)
• iShares U.S. Insurance ETF (IAK | B-76)
• iShares U.S. Medical Devices ETF (IHI | A-85)
• iShares U.S. Oil & Gas Exploration & Production ETF (IEO | A-71)
• iShares U.S. Oil Equipment & Services ETF (IEZ | A-65)
• iShares U.S. Pharmaceuticals ETF (IHE | B-64)
• iShares U.S. Real Estate ETF (IYR | A-93)
• iShares U.S. Regional Banks ETF (IAT | A-54)
• iShares U.S. Technology ETF (IYW | A-93)
• iShares U.S. Telecommunications ETF (IYZ | A-39)
• iShares U.S. Utilities ETF (IDU | A-96)

IFSM Gets Revamped

In another set of changes, the iShares Developed Small Cap ex North America ETF (IFSM | D-86), as of Tuesday, began trading as the iShares MSCI Europe Small-Cap ETF (IEUS), maintaining its small-cap focus, but narrowing its range from foreign developed markets to European developed markets.

The pending index and name changes, but not the ticker change, were first mentioned in a filing dated June 30, 2014.