Morningstar Hits Big Board With Style

July 04, 2004

The long-awaited iShares based on the Morningstar style box metholdology debuted with a Big Board bell ringing.

The long-awaited Morningstar ETFs, listed on the New York Stock Exchange began trading on Friday.  The iShares Morningstar funds cover the U.S. style and size spectrum that is represented by Morningstar's ubiquitous style boxes.

In the opening day of trading, according to NYSE data, the range of trading volume varied from zero to 300 shares for the three small-cap funds, in the range of 10,000 for each of the three mid-cap funds, and a notable 200,000 up to nearly 500,000 for the large-cap funds.  The following are the 9 new ETFs that were launched. 

  • iShares Morningstar Large Value Index Fund (ticker: JKF)
  • iShares Morningstar Large Growth Index Fund (ticker: JKE)
  • iShares Morningstar Large Core Index Fund (ticker: JKD)
  • iShares Morningstar Mid Value Index Fund (ticker: JKI)
  • iShares Morningstar Mid Growth Index Fund (ticker: JKH)
  • iShares Morningstar Mid Core Index Fund (ticker: JKG)
  • iShares Morningstar Small Value Index Fund  (ticker: JKL)
  • iShares Morningstar Small Growth Index Fund (ticker: JKK)
  • iShares Morningstar Small Core Index Fund (ticker: JKJ)

With expense ratios ranging from 0.20%-0.30%, the funds are designed to track each of Morningstar's nine style boxes, which are based on a framework that moves from value to growth across and large to small down the style box framework.  For a graphical illustration, here is how the various style box indexes faired in the 2nd quarter through June 28, 2004:

 

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