IShares

{{Short description|Family of exchange-traded funds (ETFs) managed by BlackRock}} {{Use mdy dates|date=March 2025}} {{Lowercase title}} {{Infobox brand|name=iShares|logo=frameless|class=skin-invert|currentowner=BlackRock|country=United States|markets=Worldwide|website={{url|https://www.ishares.com/}}|type=Exchange-traded fund and index mutual fund}}

'''iShares''' is a collection of exchange-traded funds (ETFs) and index mutual funds managed by BlackRock, which acquired the brand and business from Barclays in 2009. The first iShares ETFs were known as World Equity Benchmark Shares (WEBS) but have since been rebranded.<ref>{{Cite web|url=https://www.financial-dictionary.info/terms/ishares/|title=What are iShares? - Herold's Financial Dictionary|website=www.financial-dictionary.info|language=en-US|access-date=2017-10-05}}</ref>

Most iShares funds track a bond or stock market index, although some are actively managed. Stock exchanges listing iShares funds include the London Stock Exchange, American Stock Exchange, New York Stock Exchange, BATS Exchange, Hong Kong Stock Exchange, Mexican Stock Exchange, Toronto Stock Exchange, Australian Securities Exchange, B3 (stock exchange), and a number of European and Asian stock exchanges. iShares is the largest issuer of ETFs in the US and globally,<ref>Morgan Stanley research, May 2006</ref><ref>{{cite web |last=Wagler |first=Benjamin |url=http://ballastmag.com/2012/09/the-risk-of-not-investing/ |title=Ballast |publisher=ballastmag.com |date=2012-09-17 |access-date=2012-09-23 |archive-date=2012-09-25 |archive-url=https://web.archive.org/web/20120925060446/http://ballastmag.com/2012/09/the-risk-of-not-investing/ |url-status=dead }}</ref> and also manages index mutual funds.<ref>{{cite web |title=Investment funds – Mutual funds – iShares |url=https://www.blackrock.com/us/individual/products/investment-funds#/?productView=mutualFunds&style=44342&pageNumber=1&sortColumn=totalNetAssets&sortDirection=desc&dataView=perfNav&search=ishares |website=BlackRock}}</ref>

== History == In 1993, State Street, in cooperation with American Stock Exchange, launched Standard & Poor's Depositary Receipts ({{NYSE Arca|SPY}}) (now the 'SPDR S&P 500'), which was traded in real time and tracked the S&P 500 index. This was the first ETF to trade in the United States, and it continues to trade to this day.<ref>{{cite web |title=NYSE: SPDR S&P500 ETF TRUST SPY |url=https://www.nyse.com/quote/ARCX:SPY |website=www.nyse.com}}</ref>

In response, Morgan Stanley launched a series of ETFs called ''WEBS'' which tracked its MSCI foreign stock market indices. WEBS, an acronym for ''World Equity Benchmark Shares'', were developed in cooperation with Barclays Global Investors, the fund manager. Unlike the SPDR fund that was a unit investment trust, the underlying vehicle of the WEBS were mutual funds.<ref name="gastineau-35">{{cite book | last = Gastineau | first = Gary | title = The Exchange-Traded Funds Manual | publisher = John Wiley and Sons | date = 2002 | url = https://books.google.com/books?id=CIYoyIrP6cIC&q=nathan+most&pg=PA35 | access-date= 2008-04-24 | isbn = 0-471-22092-2 | page = 35}}</ref>

In 2000, Barclays put a significant strategic effort behind growing the ETF market, launching over 40 new funds, branded as ''iShares'', supported by an extensive education and marketing effort. The effort was led by Lee Kranefuss, who worked closely with the inventor of the ETF, Nate Most, at that time Chairman of the WEBs Board and an adviser to Barclays on the iShares effort. Most had retired from the American Stock Exchange some years earlier and settled in California. WEBS were soon renamed the ''iShares MSCI Series'' as part of that program.{{fact|date=April 2018}}

On November 7, 2006, iShares announced the purchase of the INDEXCHANGE ETF unit of HypoVereinsbank for €240 million. This solidified the iShares position in Europe as the leading ETF provider.{{fact|date=April 2018}}

Barclays added currency hedging features to the Canadian iShares, to distinguish them from US products in response to the elimination of limits on foreign holdings by Canadians in an RRSP. Barclays hedges currency changes in the Canadian - US exchange rate for the S&P 500 and the MSCI EAFE.{{fact|date=April 2018}}

On March 16, 2009, Barclays confirmed that it was planning to sell iShares to CVC Capital Partners, a private equity firm that had agreed to pay more than $4 billion.<ref>BBC News (2009-03-16). Barclays shares up on sales talk. BBC News, 16 March 2009. Retrieved from https://news.bbc.co.uk/2/hi/business/7945470.stm.</ref> However, under a 45-day "go shop" clause, a later bid by BlackRock was announced on 11 June 2009 for the whole of the parent division Barclays Global Investors including iShares, in a mixed cash-stock deal worth around US$13.5 billion (37.8 million shares of common stock and US$6.6 billion in cash).<ref>{{Cite web|last=Adams|first=John|date=June 12, 2009|title=Barclays sells the family silver|url=https://www.investorschronicle.co.uk/2011/11/11/shares/news-and-analysis/barclays-sells-the-family-silver-IZZmKoPmktHgIvSrxiHIxI/article.html|access-date=October 29, 2020|website=Investors Chronicle}}</ref>{{fact|date=April 2018}}

iShares has increased the number of its "iShares Core" funds.<ref>{{cite web|last=Rawson|first=Michael|date=March 17, 2013|title=Just How 'Core' Is iShares' 'Core' Series of ETFs?|url=https://www.nasdaq.com/articles/just-how-core-ishares-core-series-etfs-2013-03-17}}</ref><ref>{{cite web|first=Robert|last=Goldsborough|title=BlackRock Broadens Its iShares Core Lineup|date=June 10, 2014|url=https://www.morningstar.com/articles/650405/blackrock-broadens-its-ishares-core-lineup}}</ref><ref>[https://www.bloomberg.com/news/2014-06-01/blackrock-cuts-europe-etf-fees-in-race-with-vanguard-for-assets.html BlackRock Cuts Europe ETF Fees in Race With Vanguard for Assets - Bloomberg] Bloomberg</ref><ref>{{cite web|date=May 12, 2014|url=https://finance.yahoo.com/news/ishares-core-etfs-gain-institutional-183801392.html|title=iShares Core ETFs Gain Institutional Fans - Yahoo Finance|publisher=Yahoo Finance}}</ref>

iShares is among the asset managers with the largest amount of sustainable fund flows in 2020 with $14.5 billion as of September 30, 2020.<ref>{{Cite web|last=Hale|first=Jon|date=October 29, 2020|title=Sustainability Matters: U.S. Investors Continue to Endorse Sustainable Investing|url=https://www.morningstar.com/articles/1007284/sustainability-matters-us-investors-continue-to-endorse-sustainable-investing|access-date=2020-10-29|website=Morningstar.com|language=en|archive-date=2020-11-01 |archive-url=https://web.archive.org/web/20201101052539/https://www.morningstar.com/articles/1007284/sustainability-matters-us-investors-continue-to-endorse-sustainable-investing |url-status=dead }}</ref>

==References== {{Reflist}}

==External links== * {{Official website}} {{BlackRock}} Category:Exchange-traded funds Category:Financial services companies established in 2000 Category:2009 mergers and acquisitions Category:BlackRock