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iShares launches MSCI USA Quality Factor ETF


Shares of the iShares MSCI USA Quality Factor ETF are to begin trading on the NYSE Arca on Thursday.

This latest addition to the iShares range of exchange-traded funds will seek to track the investment results of the MSCI USA Quality Index an index composed of US large- and mid-capitalisation stocks with quality characteristics as identified through certain fundamental metrics.
The underlying index seeks to capture the performance of quality stocks by identifying common stocks with high quality scores based on three main fundamental variables: high return on equity, stable year-over-year earnings growth and low debt-to-equity. As of 31 May 2013, there were 125 securities in the index. Components primarily include consumer discretionary, energy and information technology companies. The components of the index, and the degree to which these components represent certain industries, may change over time.
The fund generally invests at least 90 per cent of its assets in the securities of the underlying index or in depositary receipts representing securities in its underlying index. The fund may invest the remainder of its assets in certain futures, options and swap contracts, cash and cash equivalents, including money market funds advised by BlackRock Fund Advisors (BFA) or its affiliates.
The iShares MSCI USA Quality Factor ETF will have a total annual fund operating expense of 0.15 per cent.

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