The team at a $3.86-trillion-AUM, 1,400-ETF shop is adding a passive fund focused on "the U.S. manufacturing renaissance."

Laurence D. "Larry" Fink BlackRock Chairman, CEO

Last Thursday (July 18), Jay Jacobs, U.S. head of thematic and active ETFs at BlackRock [profile], unveiled the launch of the iShares U.S. Manufacturing ETF (MADE on the NYSE Arca). The new index fund is a series of iShares Trust.

MADE's inception date was July 17 (last Wednesday), and the ETF comes with an expense ratio of 40 basis points. As of yesterday, the fund had about $5 million in AUM.

BlackRock Fund Advisors serves as investment advisor to MADE, and S&P Dow Jones Indices LLC serves as index provider. The fund is designed to track the S&P U.S. Manufacturing Select Index. The ETF's PM team includes: Jennifer Hsui, senior portfolio manager; Greg Savage, senior PM; and Paul Whitehead, managing director.

Jacobs puts the launch of MADE in the context of "evolving trade relations and a call for enhancing supply chain resiliency [paving] the way for the concerted effort across the public and private sectors to reestablish the U.S. as a leader in manufacturing."

"MADE is designed to capture these long-term themes by providing targeted access to companies that could be poised to benefit from supportive policies and secular trends, enabling investors to potentially capture the renaissance in American manufacturing in the convenience of an ETF," Jacobs states.

MADE's other service providers include: BlackRock Institutional Trust Company, N.A. (BTC) as securities lending agent; BlackRock Investments, LLC (BRIL) as distributor; Citibank, N.A. as administrator, custodian, dividend disbursing agent, and transfer agent; JPMorgan Chase Bank, N.A. as custodian for securities lending; PricewaterhouseCoopers LLP as independent accounting firm; and Willkie Farr & Gallagher LLP as counsel. 

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