Market Overview

iShares Adds Developed Markets ETF To Core Suite

iShares Adds Developed Markets ETF To Core Suite

The iShares lineup of core exchange-traded funds, which are aimed at cost-conscious, long-term investors, grew by one earlier this week with the debut of the iShares Core MSCI International Developed Markets ETF (NYSE: IDEV).

IDEV tracks the MSCI WORLD ex USA IMI Index. The new ETF is off to a fast start. IDEV's homepage shows an inception date of March 21 and over $30.2 million in assets under management, which would easily make IDEV one of the most successful ETFs to debut to this point in 2017.

There is already an ex-U.S. developed markets solution in the iShares core suite. The iShares Core MSCI EAFE ETF (NYSE: IEFA), which debuted in October 2012, now has over $20.4 billion in assets under management. IEFA is intended to be cost-effective way for investors to gain exposure to the widely followed MSCI EAFE Index.

The New Ex-U.S. Developed Markets ETF

The important difference between IEFA and IDEV is that the new ETF features exposure to Canadian stocks while IEFA does not.

“International markets have the potential to provide growth and diversification in different economic cycles. Investors looking for a more complete international exposure may consider IDEV given it includes Canada, a large developed equity market representing around 9 percent of the total market outside the U.S.,” said iShares Head of Investment Strategy Heidi Richardson in a statement. “Canadian equity markets have sector weightings towards financials and commodities, which may also appeal.”

Canada accounts for 9 percent of IDEV's geographic weight, making it the new ETF's third-largest country weight behind Japan and the U.K. Those three countries combine for almost half of the new ETF's lineup.

IDEV holds nearly 1,200 stocks. Financial services is the largest sector weight at almost 22 percent. Industrial, consumer discretionary and consumer staples names combine for about 37 percent of the fund's weight.

IDEV's annual expense ratio is a scant 0.07 percent, making it one of the least expensive ex-U.S. ETFs on the market today.

Related Links:

Hartford Expands ETF Lineup With 2 New Bond Funds

The Customer Is Always Right: This ETF Is Tailored To Customer Satisfaction


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