The company is basing its pricing on the idea that not all buyers of its iShares products are the same, and the strategy seems to be working.
A key measure of the yield for the fund's underlying index plunged by nearly 3 percentage points on March 22.
The iShares unit has had other departures in recent years.
Millennials have placed 36% of their investable assets into ETFs, which is considerably higher than the 23% allocation on average by all other investors.
A single percentage point increase in ETF ownership has demonstrable effects on an individual stock, researchers said.