iShares's new ETFs target U.S., foreign large or small-cap issuers

By Toni Weeks

San Diego, Dec. 21 - iShares U.S. ETF Trust announced four new exchange-traded funds that target domestic or international small-capitalization issuers or domestic or international large-cap issuers, according to an N-1A filing with the Securities and Exchange Commission.

All four funds will seek long-term capital appreciation by pursuing their various investment strategies. Although they are ETFs, none of the funds seeks to replicate the performance of a specified index.

The iShares Strategic Beta Developed International Large Cap Fund will invest, under normal circumstances, at least 80% of its net assets in equity securities of international large-cap issuers.

The iShares Strategic Beta U.S. Small Cap Fund will invest, under normal circumstances, at least 80% of its net assets in equity securities of U.S. small-cap issuers.

The iShares Strategic Beta Developed International Small Cap Fund will invest, under normal circumstances, at least 80% of its net assets in equity securities of international small-cap issuers.

The iShares Strategic Beta U.S. Large Cap Fund will invest, under normal circumstances, at least 80% of its net assets in equity securities of U.S. large-cap issuers.

The portfolio managers for the funds will be Rene Casis, Peter Christiansen, Diane Hsiung, Daniel Morillo and Greg Savage.

Fees and expenses incurred by the fund have not yet been defined, although the investment advisory agreement between iShares and the fund's investment adviser, San Francisco-based BlackRock Fund Advisors, provides that BlackRock will pay all operating expenses of the fund, with the exception of interest expenses, taxes, brokerage expenses, future distribution fees or expenses and extraordinary expenses.

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