ETF issuer, ETFMG, together with its partners at BlueStar Indexes, a research-driven provider of custom financial indexes, have announced that the announce the BlueStar Israel Technology ETF (ITEQ) has surpassed USD100 million in assets under management. ITEQ, which debuted in 2015, is the first ETF to comprehensively target innovative companies in the Israeli tech industry.
In the past year, ITEQ is up and continues to beat the MSCI EAFE Index, of which Israel is a small part.
“We are proud that the BlueStar Israel Technology ETF has surpassed the key USD100 million asset level, as investors increasingly discover the public companies powering the vibrant Israeli innovation ecosystem – the largest outside of Silicon Valley. The ITEQ ETF provides exposure to the complete universe of Israeli tech stocks listed worldwide,” says Steven Schoenfeld, Founder of BlueStar Indexes. “ITEQ’s success in the US ETF marketplace is strongly reinforced by the broad acceptance of its BlueStar BIGITech benchmark by Israeli domestic investors where it is the primary index for Israeli tech stocks,” he continued. “The 59 leading companies within BIGITech each play a vital part in the disruptive role that Israeli technology serves in transforming our world, making our lives safer, more productive and healthier.”
“We are very happy to celebrate this significant milestone with our longstanding partners at BlueStar Indexes. ITEQ’s success is continued proof of the ETF wrapper and the outstanding growth we have seen in the ETF industry in the past few years,” says Sam Masucci, CEO and Founder of ETFMG. “ITEQ is uniquely positioned in the market as investors are looking to thematic investing as one that can potentially lead to better long-term returns. We are hopeful for ongoing success with our partners as Israel continues to dominate the global tech space.”
ITEQ tracks the BlueStar Israel Global Technology Index, (BIGITech), the flagship benchmark for Israeli technology stocks, which includes 59 Israeli companies listed on seven exchanges worldwide. BIGITech is also tracked by three Israeli-listed index products with more than USD130 million in assets. In tracking BIGITech, ITEQ provides diversified exposure to the disruptive technology themes of the future, including Biotech, artificial intelligence, autonomous driving, CleanTech, DefenseTech, medical devices, cybersecurity, Agri-Tech and more.
