iShares MSCI Singapore ETF (EWS) to Switch Index With Daily Concentration Limits

BlackRock's iShares has announced that the iShares MSCI Singapore ETF (EWS) will switch its underlying benchmark from the MSCI Singapore 25/50 Index to the MSCI Singapore 25/50 Daily 25 Capped Index, effective around November 9, 2026. The new benchmark will continue tracking large- and mid-cap Singaporean equities while introducing daily concentration controls. Individual corporate groups will be capped at 25% of index weight, while groups exceeding 5% cannot collectively represent more than 50%. If any group exceeds 25% between quarterly rebalances, its weight will be reduced to 22.5%. The index will remain free-float market-cap weighted, with quarterly rebalancing designed to minimize deviations from the broader MSCI Singapore Index. The benchmark held approximately 15 constituents as of September 30, with significant exposure to financials, industrials, and consumer-related sectors. The changes aim to limit concentration risk while maintaining Singaporean equity exposure.