The folks at a 23,000-employee, $11.584-trillion-AUM*, publicly traded asset manager are further expanding their 1,500-fund, $4.3-trillion-AUM** ETF business.
| Jonathan Aaron "Jay" Jacobs BlackRock Managing Director, U.S. Head of Equity ETFs | |
Yesterday (July 9),
Jay Jacobs, U.S. head of equity ETFs at New York City-based
BlackRock [
profile],
unveiled the launch of the
iShares S&P 500 ex Top 100 ETF (XOEF on the
NYSE Arca). San Francisco-based BlackRock Fund Advisors (BFA) serves as the new fund's investment advisor. The launch expands BlackRock's $22-billion-AUM***
iShares Build ETF lineup to 7 ETFs in total.
XOEF's launch date was Tuesday (July 8), and the new ETF comes with an expense ratio of 20 basis points. It now has about $9.99 million in AUM****.
S&P Dow Jones Indices LLC (SPDJI) serves as index provider to XOEF. The new fund is designed to track the
S&P 500 ex-S&P 100 Select Index, which in turns tracks a slice of the famous S&P 500 while excluding its largest stocks (i.e. those in the S&P 100).
The PM team for XOEF includes:
Jennifer Hsui, senior portfolio manager and managing director at BlackRock;
Peter Sietsema, PM and director;
Matt Waldron, PM and managing director; and
Steven White, PM and director.
"XOEF provides investors a new lever for managing mega-cap concentration with greater precision," Jacobs states.
XOEF is a non-diversified series of
iShares Trust. The new ETF's other service providers include:
BlackRock Institutional Trust Company, N.A. (BTC) as securities lending agent;
BlackRock Investments, LLC (BRIL) as distributor;
JPMorgan Chase Bank, N.A. as administrator, custodian, and transfer agent;
PricewaterhouseCoopers LLP as independent accounting firm; and
Willkie Farr & Gallagher LLP as counsel.
*As of the end of Q1 2025.
**Also as of March 31, 2025.
***As of July 3, 2025.
****As of July 9, 2025. 
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