BGI will alter its iShares Dow Jones U.S. Consumer Non-Cyclical, iShares Dow Jones U.S. Consumer Cyclical and iShares Dow Jones Select Dividend ETFs to coincide with initiatives aimed at reducing turnover and capital gains distributions, company officials said.
Changes planned for the iShares select Dividend ETF will reflect moves by Dow Jones to expand the Dow Jones index to 100 companies from its current basket of 50.
The pair of BGI sector index-based ETFs will be reshuffled to reflect changes in Dow Jones Indexes adoption of the Industry Classification Benchmark, a new global classification system for stocks developed in accordance with FTSE.
Both iShares will also be renamed. The iShares Dow Jones U.S. Consumer Non-Cyclical will soon be known as iShares Dow Jones U.S. Consumer Goods. In addition, the iShares U.S. Consumer Cyclical will soon be listed as iShares Dow Jones U.S. Consumer Services.