SUMMIT, N.J.--(BUSINESS WIRE)--As of today’s market open, the first ETF to target the Israel technology industry, NYSE Ticker: ITEQ®, has evolved its name to BlueStar Israel Technology ETF, from BlueStar TA-BIGITech Israel Technology ETF. After more than two years of steady growth and positive market adoption, this change simplifies ITEQ’s product messaging, highlights the BlueStar brand and strengthens the association between the fund’s name and Israel’s cutting-edge technology sector.
Since its first day of trading on November 3, 2015, the BlueStar Israel Technology ETF has provided investors a transparent vehicle to invest directly in the Israel tech industry and has grown to over $36 million in assets to date.1 Israel, also referred to as the “Start-Up Nation,” is the world’s biggest technology hub outside of Silicon Valley, and yet many leading Israeli technology companies are missing from investors’ portfolios. In 2017, ITEQ saw a 504% increase in assets under management and beat the S&P 500 by 5.74%.2
BlueStar Indexes® Founder and Chief Investment Officer, Steven Schoenfeld said, “We are proud of the growth and performance of both ITEQ® and its underlying BlueStar Israel Global Technology benchmark since its launch, and we believe that streamlining the fund’s name is a great way to highlight cutting-edge Israeli technology companies in the ETF. We are confident that many more investors will be discovering ITEQ® in the coming months to allocate to Israeli tech stocks.”
ITEQ® tracks the BlueStar Israel Global Technology Index (BIGITech®), the flagship benchmark for Israeli technology stocks, which encompasses 77 Israeli companies listed on seven exchanges worldwide. BIGITech® is also tracked by two Israeli-listed index products with more than US$40 million in assets. In tracking BIGITech®, the BlueStar Israel Technology ETF provides diversified exposure to the technology themes of the future, including artificial intelligence, autonomous driving, biotech, clean tech, defense tech, Internet of Things, cybersecurity and more. For more information on the Fund, please visit the www.iteqetf.com.
Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.iteqetf.com. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. Investment in securities of Israeli companies involves risks that may negatively affect the value of your investment in the Fund. Among other things, Israel’s economy depends on imports of certain key items, such as crude oil, coal, grains, raw materials and military equipment. Foreign investing involves special risks such as currency fluctuations and political uncertainty. Funds that invest in smaller companies may experience greater volatility. Funds that emphasize investments in technology generally will experience greater price volatility.
Past performance does not guarantee future results.
Fund holdings are subject to change at any time. For holdings information, visit http://www.iteqetf.com/fund.
ITEQ seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the BlueStar Israel Global Technology Index™, which tracks the performance of exchange-listed Israeli technology operating companies. It is not possible to invest directly in an index.
ETF Managers Group LLC is the investment adviser to the fund.
The fund is distributed by ETFMG Financial LLC. ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, "ETFMG"). ETFMG Financial LLC is not affiliated with BlueStar Indexes.
1 Based on the closing NAV on 2/27/2018.
2 For standardized performance information, reference www.iteqetf.com/fund