BlackRock to Convert Large Cap Growth Mutual Fund Into Active iShares ETF

BlackRock plans to convert its BlackRock Advantage Large Cap Growth Fund into the newly created iShares Enhanced Large Cap Growth Active ETF, with the reorganization expected to close on May 21, 2027, subject to regulatory requirements. Approved by the fund’s board on September 15, 2026, the conversion will transfer assets into an actively managed ETF overseen by BlackRock Fund Advisors, with the existing mutual fund subsequently liquidated. The new ETF will seek to outperform the Russell 1000 Growth Index while maintaining low tracking error, marking a shift from the mutual fund’s broader long-term capital appreciation objective. BlackRock believes the revised strategy is better suited to navigating increasing benchmark concentration and may offer a lower investment risk profile.