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The iShares S&P Mid-Cap 400 Value ETF (IJJ) is an exchange-traded fund designed to track the performance of U.S. mid-cap companies exhibiting value characteristics. The ETF is managed by BlackRock through its iShares platform and trades under the ticker IJJ on the NYSE Arca.
Classified as a factor-based equity ETF, the fund invests in mid-cap companies that trade at valuations considered attractive based on fundamental measures such as price-to-book, price-to-earnings, and other value metrics. Its strategy provides exposure to the value segment of the U.S. mid-cap equity market.
The ETF follows a passive management approach and seeks to replicate the performance of the S&P MidCap 400 Value Index, a benchmark composed of companies from the S&P MidCap 400 that exhibit value characteristics according to the S&P Dow Jones Indices methodology.
Diversification and sector exposure
IJJ provides exposure primarily associated with:
U.S. mid-cap stocks.
Value stocks.
Financial services.
Industrials.
Consumer discretionary.
Energy.
Materials.
U.S. equity market.
The portfolio includes mid-cap companies across a broad range of industries, providing diversified exposure to businesses that may benefit from value-oriented investment characteristics.
The ETF's performance reflects both the behavior of U.S. mid-cap companies and the relative performance of value stocks across different market environments.
Structure and costs
IJJ shares trade on the secondary market on the NYSE Arca during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).
The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. Dividends received from portfolio holdings may be distributed periodically to shareholders according to the fund's distribution policy.
Because it focuses on value-oriented mid-cap companies, the ETF may perform differently from both large-cap funds and growth-focused investment strategies.
History and evolution of the ETF
The iShares S&P Mid-Cap 400 Value ETF was launched in 2000 to provide investors with exposure to U.S. mid-cap companies exhibiting value characteristics.
Since inception, the fund has tracked multiple economic and market cycles, reflecting changes in the relative performance of value and growth stocks within the U.S. mid-cap universe.
In recent years, monetary policy, inflation, economic growth, and changes in equity valuations have continued to shape the performance of the companies represented in the ETF's portfolio.
Additional Information
iShares S&P Mid-Cap 400 Value ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $8.55 billion.
Over the past 12 months, iShares S&P Mid-Cap 400 Value ETF recorded a return of 10.34%, with its price trading between $123.92 and $151.67 during the same period.
The ETF is traded under the ticker IJJ.
