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TORONTO, July 11, 2024 (GLOBE NEWSWIRE) -- Today, RBC iShares expands its exchange traded fund (“ETF”) lineup with the launch of the industry’s only S&P 500 3% Capped Index ETFs, furthering choice and access for Canadians seeking to diversify their investments in U.S. equity markets.
iShares S&P 500 3% Capped Index ETF and iShares S&P 500 3% Capped Index ETF (CAD-Hedged) seek to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P 500 3% Capped Index and the S&P 500 3% Capped CAD Hedged Index respectively, net of expenses. The new ETFs offer diversification across different companies and sectors by capping securities in the index at 3% weight, potentially reducing concentration risk.
The two ETFs will be managed by BlackRock Canada and will begin trading today on the Toronto Stock Exchange under the ticker symbols noted below.
| Fund Name | Ticker | Annual Management Fee |
| iShares S&P 500 3% Capped | XUSC (CAD Units); | 0.12% of NAV |
| iShares S&P 500 3% Capped | XSPC | 0.12% of NAV |
Helen Hayes, Head of iShares Canada, BlackRock:
“The launch of these two ETFs marks a global first, enabling Canadian investors to track the S&P 500 3% Capped Index and the S&P 500 3% Capped CAD Hedged Index. The ETFs are designed to address a key investor need amid investors’ growing concerns of mega cap company concentration, while seeking to provide close alignment with the flagship U.S. equity benchmark - the S&P 500 Index.”
About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.
About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$3.7 trillion in assets under management as of March 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
iShares® ETFs are managed by BlackRock Asset Management Canada Limited.
Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.