iShares MSCI KLD 400 Social ETF (DSI) is an exchange-traded fund that seeks to track the performance of the MSCI KLD 400 Social Index, comprising U.S. companies selected for strong environmental, social, and governance (ESG) characteristics. The fund provides exposure to large- and mid-cap U.S. equities exhibiting positive social responsibility ratings across categories including community relations, corporate governance, diversity, employee relations, environment, human rights, and product safety; it excludes firms involved in controversial business activities such as alcohol, gambling, tobacco, nuclear power, and weapons. Managed by BlackRock Institutional Trust Company, N.A., DSI offers investors a socially conscious alternative to broad market benchmarks through its passive investment strategy, with assets held in a diversified portfolio of approximately 400 securities weighted by market capitalization.
DSI operates primarily in the U.S. equity market, targeting institutional and retail investors focused on sustainable investing. The fund was launched in 2006 and is domiciled in the United States, with BlackRock, Inc. serving as the sponsor and principal underwriter. It trades on the NYSE Arca exchange under the ticker DSI, maintaining low expense ratios typical of iShares ETFs.
In recent developments, DSI underwent an index methodology update in 2023 to enhance its ESG screening criteria, incorporating forward-looking sustainability data and expanded exclusion policies for climate risks; BlackRock announced expanded ESG integration across its ETF suite in 2024 amid growing demand for responsible investment products. The fund benefited from inflows during the 2024-2025 sustainable investing surge, reflecting no major structural changes such as mergers or rebranding.