“The fact that you couldn’t buy this on major brokerage platforms has likely hampered their ability to gain scale," said Todd Rosenbluth, director of ETF and mutual fund research at CFRA.
The actively managed “iShares Evolved” funds will target major industry groupings: financials, healthcare, media, consumer staples, consumer discretionary and, of course, technology.
S&P and MSCI plan to overhaul their industry classifications, merging internet and media stocks with phone companies to replace the telecommunication sector.
Public investment vehicles, including mutual funds and ETFs focused on so-called “gender-lens” investing, oversaw $910 million in assets as of June 30, 2017.