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There has been a lot of discussion about this issue in the last years. Dual-class setups (at least for new IPOs) are penalized now by some index providers. htt

• elliekelly 8y ago
  Ahh, thank you. That makes much more sense. So it's not that ETFs are specifically prohibited from purchasing them. Rather, if index providers exclude issuers who have a dual-share structure from their indices then any funds that track to an index wouldn't be purchasing stock in those issuers. I think it's important to note that many ETFs aren't index-tracking so even though index providers may exclude the issuers with several share classes that doesn't mean the stock will be shunned by all ETFs.