BlackRock (NYSE: BLK) has expanded its iShares ETF line-up with the introduction of iShares Russell 2500 ETF (BATS: SMMD), the first and only ETF that seeks to track the Russell 2500 Index.
“The Russell 2500 has long been a staple for institutional investors, but lacked a turnkey ETF implementation,” says Martin Small, Head of US iShares at BlackRock. “SMMD will be the first ETF to bring Russell’s ‘smid’ cap index to the fast-growing ETF market, and aims to provide lower cost efficient exposure to equities with growth potential.”
SMMD is designed for investors seeking broad, low cost exposure to small-and-mid cap companies with the potential to deliver long term growth and an increase in portfolio diversification.
With the introduction of SMMD, BlackRock now offers 15 iShares ETFs based on Russell indexes, the largest offering in the industry. The components of the well-known Russell indexes enable investors to easily customize their U.S. stock market allocation.
SMMD will have an expense ratio of 0.15 per cent.