Leading electronic stock exchange group Bats Global Markets (Bats) has welcomed nine new exchange-traded funds from provider iShares to its US market. The move marks the largest number of listings in one day for the Bats ETF Marketplace and brings the total number of iShares ETFs listed on the exchange to 40.
Laura Morrison, Senior Vice President, Global Head of Exchange Traded Products at Bats.
The products form part of the new iShares Edge ETFs launched by BlackRock, which are a clearly defined suite of factor ETFs, covering minimum volatility, single and multifactor funds. The full iShares Edge range will cover 26 existing and nine new factor-based funds representing more than $28bn in assets under management.
Each of the new funds invests in firms operating within a specific sector of the US economy. The funds select companies with the potential to outperform its relevant broad US sector by focusing on proven drivers of return: inexpensive stocks, financially healthy firms, trending stocks and relatively smaller companies. Investors may wish to use the suite as part of a sector rotation strategy or to tilt a portfolio towards specific sectors.
“We are excited to help iShares launch these ETFs as part of their new Edge suite, which is designed to capture the power of factors to help reduce risk or enhance returns,” said Laura Morrison, Senior Vice President and Global Head of Exchange-Traded Products at Bats. “Since welcoming iShares as the first issuer on Bats when we launched our listings business, we have valued each and every product they have brought to our market. We are proud that 40 iShares products now call the Bats ETF Marketplace home.”
The new ETFs now trading on the Bats ETF Marketplace include:
iShares Edge MSCI Multifactor Consumer Discretionary ETF (CNDF)
iShares Edge MSCI Multifactor Consumer Staples ETF (CNSF)
iShares Edge MSCI Multifactor Energy ETF (ERGF)
iShares Edge MSCI Multifactor Financials ETF (FNCF)
iShares Edge MSCI Multifactor Healthcare ETF (HCRF)
iShares Edge MSCI Multifactor Industrials ETF (INDF)
iShares Edge MSCI Multifactor Materials ETF (MATF)
iShares Edge MSCI Multifactor Technology ETF (TCHF)
iShares Edge MSCI Multifactor Utilities ETF (UTLF)
Each fund has a total expense ratio of 0.35%.