BlackRock announced this week that it is closing eight iShares ETFs as part of what has become an annual trimming of its fund line-up.
Five of the closures are currency-hedged international ETFs:
- iShares Currency Hedged MSCI Australia ETF (HAUD)
- iShares Currency Hedged MSCI Italy ETF (HEWI)
- iShares Currency Hedged MSCI Switzerland ETF (HEWL)
- iShares Currency Hedged MSCI Spain ETF (HEWP)
- iShares Currency Hedged MSCI South Korea ETF (HEWY)
Declining or negative flows in each of these currency-hedged ETFs may reflect the strategies falling out of favor with investors as the dollar weakens against local currencies.
The closures also include two minimum-volatility ETFs and one international real estate ETF:
- iShares Edge MSCI Min Vol Japan ETF (JPMV)
- iShares Edge MSCI Min Vol Europe ETF (EUMV)
- iShares Europe Developed Real Estate ETF (IFEU)
BlackRock has introduced more than 20 new ETFs this year. In June, the firm expanded the U.S. iShares lineup with six ESG-oriented funds.