IXJ offers marketlike exposure to global pharmaceutical, biotechnology, and medical device companies. The fund pulls from the S&P Global 1200 universe, which effectively screens out small-caps, giving the fund a large-cap tilt compared to our benchmark. Aside from that, geographic and sector weights look neutral and make it a viable entry-point to global healthcare. BlackRock Fund Advisors uses a sampling approach to indexing. This means the fund may not hold all the stocks of the underlying index but will hold securities that collectively have the same investment profile. Stocks within IXJ are selected and weighted by float-adjusted market-cap. The index is rebalanced quarterly.
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