iShares Edge MSCI Mltfct Cnsmr Discr ETF
CNDF
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- iShares Edge MSCI Multifactor Consumer Discretionary ETF (CNDF) is an exchange-traded fund that seeks to track the investment results of an index composed of U.S. large- and mid-capitalization stocks in the consumer discretionary sector exhibiting favorable exposure to quality, value, momentum, and low size factors. The ETF provides investors with targeted exposure to consumer discretionary companies, including retailers, automakers, hotels, restaurants, and leisure firms; it invests primarily in public equity securities of such companies operating in the United States. Managed by BlackRock Fund Advisors, a division of BlackRock, Inc., and part of the iShares family of ETFs launched in 1996 with headquarters in New York, NY, CNDF focuses on multifactor strategies within the broader asset management industry. The fund's portfolio emphasizes systematic multifactor selection based on the MSCI USA Diversified Multifactor Consumer Discretionary Index; holdings typically include leading consumer discretionary equities selected for their combined factor scores, with quarterly rebalancing to maintain alignment. It offers investors a passive, cost-efficient vehicle for sector-specific exposure without direct stock picking, complemented by daily liquidity on the NYSE Arca exchange. In June 2018, BlackRock announced the closure and liquidation of CNDF alongside 15 other iShares Edge Multifactor ETFs due to low assets under management and strategic portfolio rationalization; trading ceased on August 15, 2018, with final liquidation distributions to shareholders occurring shortly thereafter at approximately $34.38 per share. No subsequent relaunches, mergers, or revivals of CNDF have occurred, reflecting BlackRock's shift toward core iShares factor and sector ETFs. The ETF targeted institutional and retail investors seeking smart beta strategies in consumer discretionary prior to its termination.