When a company such as iShares Trust - U.S. Consumer Discretionary ETF splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.

Looking at the IYC split history from start to finish, an original position size of 1000 shares would have turned into 4000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into iShares Trust - U.S. Consumer Discretionary ETF shares, starting with a $10,000 purchase of IYC, presented on a split-history-adjusted basis factoring in the complete IYC split history.

About iShares Trust - U.S. Consumer Discretionary ETF

iShares U.S. Consumer Services is an open-end management investment company. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Consumer Services Index (the Index). The Index measures the performance of the consumer services sector of the U.S. equity market, and includes companies in industry groups, such as food and drug retailers, general retailers, media, and travel and leisure. As of Apr 30 2015, the Fund's total assets and investment portfolio totaled $1,082,334,752 and $1,081,873,127, respectively. According to our IYC split history records, iShares Trust - U.S. Consumer Discretionary ETF has had 1 split.

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