Barclays Global Investors today launched 10 iShares Dow Jones subsector funds on the New York Stock Exchange, said Lance Berg, spokesman. They are: U.S. Oil & Gas Exploration Production; Oil Equipment & Services; Pharmaceuticals; Healthcare Providers, Medical Devices; Broker-Dealers; Insurance; Regional Banks; Aerospace & Defense; and Home Construction.
"Due to the Dow Jones sector series being market-cap weighted, many investors have asked us for a way to provide subsector exposure in situations where the broader sector is dominated by large-cap names," Lee Kranefuss, CEO of BGI's intermediary and ETF business, said in a news release.
BGI now manages 111 ETFs with more than $207 billion in assets under management as of May 5; iShares funds have received $17 billion in net inflows year-to-date April 28.
