iSHARES TRUST will change ILCB to MLRG and adopt the MSCI USA Index, which represents approximately 85% of U.S. free float-adjusted market capitalization. For investors following SHV, the changes establish new fund identifiers, names and benchmark definitions for the Funds, with the changes expected around October 5, 2026.

Key Highlights

  • The board approved the Funds’ ticker, fund name and underlying index changes on August 6, 2026.
  • ILCB is expected to become MLRG and be renamed iShares MSCI USA ETF.
  • ISCB is expected to become MSML and be renamed iShares MSCI USA Small-Cap ETF.

iSHARES TRUST (NYSE: SHV) approved the changes on August 6, 2026, and also approved corresponding changes for ISCB.

New Tickers and MSCI Underlying Indexes

ISCB will become MSML and take the name iShares MSCI USA Small-Cap ETF, with the MSCI USA Small Cap Index as its underlying index.

Index Coverage and Maintenance Rules

MSCI’s Global Investable Market Indexes target approximately 99% coverage in each market, while Standard Indexes cover the largest issuers representing approximately 85% and Large Cap Indexes cover approximately 70%. Small Cap Indexes capture the difference between Investable Market and Standard Index coverage. MSCI reviews the indexes quarterly, with corporate events such as mergers, acquisitions, spin-offs, bankruptcies and reorganizations also able to change constituents.