BlackRock Launches First-Ever Texas Economy ETF as State GDP Hits $2.7T

The iShares Texas Equity ETF (TEXN) offers investors exposure to the breadth of economic opportunity in the state

DALLAS--(BUSINESS WIRE)-- Today, BlackRock launched the iShares Texas Equity ETF (NASDAQ:TEXN), opening greater access to invest in the strength and diversity of the Texas economy through the efficiency and convenience of an exchange-traded fund (ETF). TEXN invests in U.S. companies headquartered in Texas, providing investors targeted exposure to a dynamic state economy.

Texas leads the nation in business and population expansion. As a hub for innovation and enterprise, Texas is home to 1 in 10 publicly traded companies in the U.S.¹ Since 2015, more than 300 companies have moved their headquarters to the state,² reinforcing its role as a national leader across sectors such as energy, technology, and industrials. In addition, Texas ranked first in population growth in 2024, surpassing 31 million in total population.³

Now the eighth largest economy in the world by GDP on a standalone basis, Texas has demonstrated strong economic momentum in recent years. In 2024, the state’s GDP reached a record $2.7 trillion, growing at an annualized rate of 3.5% in the fourth quarter, outpacing the national average of 2.4%.⁴

“TEXN presents a new opportunity for Texans, and investors across the country, to invest in nearly 200 companies powering the state’s economy and to capitalize on Texas’ twin engines of business and population growth,” said Joe DeVico, Head of the Americas Client Business at BlackRock.

Simplifying access to the Texas economy through TEXN

TEXN joins BlackRock’s deep bench of geography-based product offerings, including over 60 mutual funds and ETFs with over $100 billion in assets under management, that target a single-country or region.⁵

“With over 400 ETFs in the U.S., iShares provides access to nearly every corner of the market to meet our clients’ financial goals,” said Elise Terry, Head of U.S. iShares at BlackRock. “TEXN offers more choice to investors seeking convenient, tax-efficient, and transparent ways to build portfolios that reflect their investment views.”

BlackRock manages close to $380 billion in assets in public companies in Texas,⁶ including $115 billion in Texas oil and gas companies, making it one of the largest investors in the state.⁷ Today, there are 2.2 million Texas-based investor accounts served through iShares ETFs, and with TEXN, Texas-based clients now have a new way to invest in the state’s economy through iShares.⁸

iShares^® Texas Equity ETF
Listing Exchange	Nasdaq
Ticker	TEXN
Underlying Index	Russell Texas Equity Index
Expense Ratio	0.20%

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter @blackrock | LinkedIn: www.linkedin.com/company/blackrock

About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and $4.3 trillion in assets under management as of March 31, 2025, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Funds that concentrate investments in specific industries, sectors, markets or asset classes may underperform or be more volatile than other industries, sectors, markets or asset classes and the general securities market.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Russell, nor does this company make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with Russell.

The iShares and BlackRock Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

© 2025 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

^{1, 2, 3, 4}Office of the Texas Governor, as of May 2025.
⁵ BlackRock, as of May 2025.
^{6, 7, 8}BlackRock. For more information, visit the BlackRock in Texas page.