The iShares Russell Midcap Index ETF (Ticker: IWR) seeks investment results that, before fees and expenses, correspond generally to the performance the Russell Midcap Index. The index represents the 800 smallest companies by market capitalization in the Russell 1000 index. Companies range in size between approximately $2 and $25 billion. The free-float capitalization weighted index is reconstructed annually in June based on May 31 market values. Initial public offerings (IPOs) may be added quarterly.