BlackRock lists three new iShares on the London Stock Exchange: an All-World, an STOXX 600 and a European Small Cap

The three funds, all incorporated in Ireland and physically replicated, cover three distinct segments of the equity market: global All-World equities, European large-cap equities and European small-cap equities. Details of each fund are provided below.

iShares FTSE All World UCITS ETF (FTAW)

ISIN: IE00097WZHZ9

TER: 0.12%

LSE Ticker: FTAW (GBP)

LSE Listing Date: 12 May 2026

Distribution Policy: Accumulation (USD)

Structure: iShares II plc

The fund tracks the FTSE All-World Index, a benchmark covering approximately 4,200 large- and mid-cap stocks across more than 45 developed and emerging markets, representing around 90–95% of global investable market capitalisation. The replication is physical: the fund directly holds the equities comprising the index in similar proportions. The index is free-float-adjusted market capitalisation-weighted and is reviewed quarterly.

The ETF comes at a time of growing demand for global equity exposure.

On the London Stock Exchange, the fund is traded in pounds sterling under the ticker FTAW. It has also been admitted to trading on Deutsche Börse Xetra under the ticker FTSS in EUR. The first trading date on both exchanges is 12 May 2026.

iShares STOXX Europe 600 UCITS ETF (STT6)

ISIN: IE0004YCLDW1

TER: 0.07%

LSE Ticker: STT6

(EUR)

LSE listing date: 12 May 2026

Distribution policy: Distribution (EUR)

Structure: iShares II plc

The fund tracks the STOXX Europe 600 Index, which comprises the 600 largest companies in developed European markets, covering approximately 90% of the total European equity market capitalisation.

The replication is fully physical: the fund directly holds the index constituents in corresponding proportions. As at 7 May 2026, the portfolio comprised 597 constituents. The index is reviewed quarterly; between reviews, the weightings vary in line with prices.

With a TER of 0.07%, this ETF ranks among the lowest-cost options on the market for broad European equity exposure. The distribution policy is quarterly coupon payments. The fund is traded in euros on the London Stock Exchange. It was also admitted to trading on Xetra on the same date.

iShares MSCI Europe Small Cap UCITS ETF (ESCE)

ISIN: IE0000N55FP4

TER: 0.25%

LSE Ticker: ESCE (EUR)

LSE Listing Date: 12 May 2026 (first overall listing: 25 March 2026 on other exchanges)

Distribution policy: Accumulation (EUR)

Structure: iShares III plc

The fund is a sub-fund of iShares III plc and aims to track the performance of the MSCI Europe Small Cap Index. The index covers small-cap stocks across 15 developed European markets and represents approximately 14% of the free-float-adjusted market capitalisation of the European equity universe. It is market capitalisation-weighted and free-float-adjusted, including only shares that are actually available to international investors.

The replication method is physical optimised sampling: the fund does not hold all the constituents of the index, but strategically selects a subset of stocks that allows it to achieve a return similar to that of the benchmark. This technique is common for small-cap indices, where the large number and lower liquidity of the constituents would make full replication inefficient or excessively costly.

The fund was launched on 25 March 2026 on other European markets. Its admission to the London Stock Exchange on 12 May extends its availability to UK investors. With initial assets of approximately €6.5 million, the fund is still in the fundraising phase.

Background and significance of the transaction

The three ETFs are domiciled in Ireland, structured as UCITS and compliant with European regulations. Two belong to the iShares II plc platform (FTAW and STT6), the third to iShares III plc (ESCE). The update to the iShares II plc prospectus is dated 8 May 2026, a few days prior to the listing. The custodian bank is BNY Mellon for iShares II plc and State Street for iShares III plc.

The move forms part of an expansion of the iShares offering on the London market. In the preceding weeks, BlackRock had already listed two active distribution ETFs on the LSE (31 March) and the distribution class of the iShares MSCI World ex-USA UCITS ETF (6 May).The listing of the FTSE All-World is particularly significant because it brings the product to the same market where DWS had already launched its Xtrackers FTSE All-World UCITS ETF (ALLW) on 28 April, also with a TER of 0.12%. Cost competition between issuers is intensifying in the global broad-market ETF segment, to the benefit of investors.

No historical performance data is available for any of the three instruments, as they are newly listed funds. BlackRock cites stock market volatility, counterparty risk and, for the Small Cap fund, the greater price volatility typical of small-cap stocks as the main risk factors.