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A family of exchange-traded funds that tracks various stock or bond markets. iShares can be traded like stocks or other securities and operate much like mutual funds but without any net asset value. The largest issuer of exchange-traded funds, iShare funds are traded on several stock exchanges globally.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Exchange-traded funds with portfolios based on a series of stock indexes including the S&P indexes, the Dow Jones indexes, and the Russell indexes. iShares are also available for MSCI foreign indexes. Shares of each fund represent proportional ownership of individual stocks that make up the index on which the fund is based. iShares were developed by Barclays Global Investors and are mostly traded on the American Stock Exchange.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.