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Morningstar and iShares team to revamp indexes

In a move that is likely to shape ETF investing, Morningstar Inc. will introduce a new index family in January — the Morningstar Broad Style Indexes — that it says is designed to more accurately represent the size and style dimensions of the U.S. equity market.

As part of the initiative, the nine exchange-traded funds in BlackRock Inc.’s iShares Morningstar U.S. Equity Style Box ETF suite, which have $7 billion in assets, will begin tracking the new indexes, whose underlying data and methodology are designed to be consistent with the Morningstar Style Box, the company said in a release.

The Morningstar Style Box will not experience changes as a result of the launch of the Morningstar Broad Style Index family.

Each of the funds in the iShares Morningstar U.S. Equity Style Box ETF suite also will see forward share splits and new tickers. The changes are expected to be implemented no earlier than March 19.

[More: Debut ETF issuers hit record this year]

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