BlackRock's DYNF Rebounds After Rebrand

Contributing Editor

Aug 09, 2024

Reviewed by: etf.com Staff

Edited by: Ron Day

The BlackRock U.S. Equity Factor Rotation ETF (DYNF) rose 2% on Thursday amid a wider market rally spurred by an encouraging decline in jobless claims and rising hopes that the U.S. might not be headed for a steep recession.

DYNF's one-day surge was a return to winning ways after a weeks-long slump that dovetailed with a slow-down in the technology sector, which composes the largest part of its holdings. While the fund has sunk more than 5% over the past month, it's up more than 15% year-to-date, surpassing the performance of the S&P 500.

BlackRock's Rebrand to iShares

The rally also came two days after the world's largest asset manager submitted an SEC filing that would rebrand DYNF under the iShares name along with all of BlackRock's exchange-traded funds. BlackRock says the name change will help clients develop a better understanding of its ETF offerings.

"As ETFs have become ubiquitous, BlackRock’s ETF platform has evolved to provide clients access to an ever-expanding choice of investments across index and active strategies. To help clients better navigate BlackRock’s product offerings, we will be branding all our ETFs as iShares," a BlackRock spokesperson said.

DYNF, which debuted in March 2019 and carries a .30% expense ratio, manages more than $9.1 billion in assets, according to etf.com data. The fund's heaviest allocations, more than 40%, splits evenly between technology and technology services large cap stocks. It allocates an additional 14% to major financial services firms.

DYNF Top Holdings

Separate 7.5% stakes of Microsoft and Nvidia and a 7% share in Apple are its largest individual holdings. It also holds stakes of more than 3.6% in financial services giants Berkshire Hathaway, JPMorgan Chase and Visa.

BlackRock's ETF rebranding comes as the New York-based company faces fierce competition from Vanguard to hold the title as the world's biggest ETF issuer.

BlackRock's iShares holds about $2.79 trillion in 417 funds, (globally, it manages $3.84 trillion in 1,147 ETFs for a 30% market share, according to ETFGI data in June).

James Rubin

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James Rubin is a contributing editor for etf.com, where he produces the Morning Exchange and Weekly Exchange newsletters. A longtime financial writer, editor and book author, he formerly held positions as a news and markets editor for the Americas at CoinDesk, where he focussed on cryptocurrencies.

He provided editorial guidance for a Wall Street Journal best-selling book on Bitcoin and oversaw a startup newsroom focused on digital financial assets. He has edited for TheStreet and Unchained, where he wrote daily news stories about the trial of fallen crypto entrepreneur Sam Bankman-Fried. His writing has also appeared in The Hollywood Reporter, Forbes.com, AdWeek, Bankrate, The Financial Brand and The Wall Street Journal. He has also written for Forbes Insights and the Economist Intelligence Unit, including papers presented at World Economic Forums in Davos and Mumbai.

James is the co-author of The Urban Cyclist’s Survival Guide (Triumph Books) and has been interviewed about bike safety on a number of NPR affiliates. In a prior career, Rubin was a world-ranked tennis player, once competing in Wimbledon’s qualifying rounds. He speaks fluent German and is a graduate of the Columbia University Graduate School of Journalism and received his BA at Columbia University.

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