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iShares International Fundamental Index ETF - Common Units
Aequitas NEO: CIE    

iShares International Fundamental Index ETF has been designed to replicate the performance of the FTSE RAFI Developed ex US 1000 Index, which comprises the top 1,000 non US-listed companies with the largest fundamental value. The index weights constituents using four accounting factors, rather than market capitalization. These four factors include: total cash dividends (five-year average of all regular and special distributions); free cash flow (five-year average cash flow); total sales (five-year average total sales); book equity value (current period book equity value).
The FTSE RAFI Developed ex US 1000 Index represents 25 separate country/regional indices from Europe, Australasia and the Far East. The iShares International Fundamental Index ETF offers the advantages of an active management strategy with the highlights of a passive investment: lower turnover costs and transparent rules-based selection, while retaining high investment capacity. By using these factors rather than market cap to weight stocks, Fundamental Indexation takes advantage of price movements by reducing the index's holdings in constituents whose prices have risen relative to other constituents, and increasing holdings in companies whose prices have fallen behind. In addition, Fundamental Indexation decreases exposure to high P/E stocks during episodes of unsustainable P/E expansion. Therefore, this approach seeks to avoid over-exposure to the more overvalued stocks.
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