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The iShares MSCI USA Small-Cap ESG Optimized ETF, which will start trading April 12, will track investment results of an index that is mostly made up of small-cap U.S. companies while excluding producers and retailers of civilian firearms.
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“It remains to be seen how significant these firearm-free instruments grow in size,” said Rommel T. Dionisio, managing director of equity research at Aegis Capital Corp. “But given the recent rhetoric from various state pension funds to divest firearm companies from their portfolios, there could certainly be some selling pressure if these funds were to divest BlackRock’s existing funds in favor of these new instruments which contain no firearm-related stocks."
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