Yesterday, iShares announced that 10 of its funds would cease to trade after the close of business on Aug. 23. The closures were announced almost exactly a year after iShares announced the August closures of 18 funds.
Usually, when fund closures are signaled, it’s because the funds have failed to accumulate assets, but in this case, some of the ETFs have more than $50 million in assets under management, suggesting this is more about streamlining iShares’ lineup than culling unsuccessful individual funds.
The two funds with the most assets are the iShares Enhanced U.S. Large-Cap ETF (IELG | B-82) and the iShares Enhanced International Large-Cap ETF (IEIL | C-74), which have $71.2 million and $63.5 million in assets, respectively. Both are part of iShares’ lineup of actively managed funds, as are another two ETFs included in the closure announcement. The funds and their assets under management are as follows:
- iShares Enhanced International Small-Cap ETF (IEIS | C-76), $18.3 million
- iShares Enhanced U.S. Small-Cap ETF (IESM | C-78), $25.6 million
The remaining six funds to shut down and their assets under management include the following:
- iShares MSCI Emerging Markets Latin America ETF (EEML | C-97), $8.6 million
- iShares MSCI Emerging Markets Horizon ETF (EMHZ | D-53), $2.8 million
- iShares International Inflation-Linked Bond ETF (ITIP | C), $25.5 million
- iShares Global Inflation-Linked Bond ETF (GTIP | C), $14.7 million
- iShares Baa - Ba Rated Corporate Bond ETF (QLTB | C-37), $36.3 million
- iShares B - Ca Rated Corporate Bond ETF (QLTC | C-74), $11.2 million
The list includes two emerging market equity ETFs and four bond ETFs covering very specific parts of the fixed-income space.
Contact Heather Bell at [email protected].