iShares MSCI World Small-Cap ETF (WSML) is an exchange-traded fund that seeks to track the investment results of the MSCI World Small Cap Index, which comprises small-capitalization equities across developed market countries worldwide; the fund employs a representative sampling technique to replicate the index's performance by investing in growth and value stocks of small-cap companies operating across diversified sectors including technology, industrials, healthcare, and financials. Launched on April 1, 2025, and domiciled in the United States, WSML is issued and managed by BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., with headquarters in New York; the ETF features an expense ratio of 0.30%, accumulating share class structure, and as of late 2025 holds approximately 3,200 securities with assets under management exceeding $700 million. It provides investors with exposure to small-cap developed market equities in regions such as North America, Europe, Japan, and Australasia, targeting institutional and retail investors seeking diversified global small-cap growth. In 2025, following its recent launch, WSML has seen steady asset inflows and portfolio growth amid favorable market conditions for small-caps; BlackRock, its parent entity, expanded its ETF lineup through conversions of mutual funds to active ETFs like iShares Dynamic Equity Active ETF (BDYN) and iShares Disciplined Volatility Equity Active ETF (BDVL), reflecting broader strategic shifts toward ETF innovation, though no specific acquisitions, partnerships, or product relaunches directly impacted WSML. The fund trades primarily on U.S. exchanges including NASDAQ, with top holdings including Astera Labs, Insmed Inc., and Comfort Systems USA, representing less than 2% collectively.