BlackRock’s (NYSE: BLK) iShares unit, the world’s largest issuer of exchange traded funds, said it is changing the underlying indexes on four of its ETFs.

On or about Aug. 31, the $701 million iShares MSCI USA Value Weighted Index Fund (NYSEArca: VLUE) will begin tracking the the MSCI USA Enhanced Value Index. VLUE, which currently tracks the MSCI USA Value Weighted Index, will not change its investment objective, according to a statement from BlackRock.

The $1 billion iShares MSCI USA Quality Factor ETF (NYSEArca: QUAL) will change indexes to the MSCI USA Sector Neutral Quality Index from the MSCI USA Quality Index. QUAL’s investment objective will also remain the same. [ETFs Tracking MSCI Indexes see Assets Swell]

QUAL’s index change will also take place on or about Aug. 31. On or about the same date, the $51.3 million iShares MSCI USA (NYSEArca: EUSA) will swap indexes to the MSCI USA Equal Weighted Index from the MSCI USA Index.

The $83.2 million iShares Japan Large-Cap ETF (NYSEArca: ITF) is moving to the JPX-Nikkei Index 400 Index from the S&P/Topix 150 Index and will become the iShares JPX-Nikkei 400 ETF. The fund’s ticker will remain the same.

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