MutualFundWire.com: Jacobs Unveils a New Lever For Managing Mega-Cap Concentration
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Thursday, July 10, 2025

Jacobs Unveils a New Lever For Managing Mega-Cap Concentration


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.


    Printed from: MFWire.com/story.asp?s=70138

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