The benchmark for one of iShares' billion dollar equity funds - the iShares Core Russell U.S. Value ETF (IUSV) - is about to change next month and that could result in a significantly different looking fund for shareholders. The fund is currently benchmarked to the Russell 3000 Value Index. In January 2017, it will switch to the S&P 900 Value Index. Upon the switch, the fund will change its name to the iShares Core S&P U.S. Value ETF. The ticker and expense ratio are expected to stay the same.
What won't remain the same is the composition of the fund. It may seem like a subtle change on the surface but underneath there are implications for the fund's risk level, composition and dividend yield.
Methodology
The biggest difference between the two indices is that the S&P 900 Value index will skew towards larger companies. The Russell 3000 is a combination…
