iShares MSCI EMU Small Cap UCITS ETF

Equity
Equity
CES1

iShares MSCI EMU Small Cap UCITS ETF

  • NAV as of 25/Sept/2026
    EUR 362.7452 WK: 313.86 - 376.50
  • 1 Day NAV Change as of 25/Sept/2026
    EUR 1.51(0.42%)
  • NAV Total Return as of 24/Sept/2026
    YTD: 7.88%
  • NAV as of 25/Sept/2026
    EUR 362.7452 WK: 313.86 - 376.50
  • 1 Day NAV Change as of 25/Sept/2026
    EUR 1.51(0.42%)
  • NAV Total Return as of 24/Sept/2026
    YTD: 7.88%

WHY CES1?

  1. Diversified exposure to companies from the EMU
  2. Direct investment in small capitalisation EMU companies
  3. Regional and small market capitalisation companies exposure

INVESTMENT OBJECTIVE

The Fund seeks to track the performance of an index composed of small cap companies from developed countries in Europe that form part of the Economic and Monetary Union (EMU).

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.



All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company

Performance

This chart shows the product’s performance as the percentage loss or gain per year over the last 10 years against its benchmark. It can help you to assess how the product has been managed in the past and compare it to its benchmark.

2016201720182019202020212022202320242025
Total Return (%) EUR
3.4
24.1
-17.3
28.3
5.3
23.3
-16.8
14.3
0.7
24.7
Benchmark (%) EUR
3.3
24.2
-17.4
28.2
5.5
23.3
-17.1
14.0
0.5
24.5

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Risks

Shares in smaller companies typically trade in less volume and experience greater price variations than larger companies.The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events.Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Share Class to financial loss.Liquidity Risk: Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily.

Key Facts

Net Assets
as of 25/Sept/2026
EUR 843,512,074
Inception Date
01/Jul/2009
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Other
Total Expense Ratio
0.58%
Use of Income
Accumulating
Domicile
Ireland
Rebalance Frequency
Quarterly
UCITS
Yes
Fund Manager
BlackRock Asset Management Ireland Limited
Custodian
The Bank of New York Mellon SA/NV, Dublin Branch
Bloomberg Ticker
CES1 LN
ISA Eligibility
Yes
Net Assets of Fund
as of 25/Sept/2026
EUR 843,512,074
Fund Launch Date
01/Jul/2009
Base Currency
EUR
Benchmark Index
MSCI EMU Small Cap NET EUR Index
Shares Outstanding
as of 25/Sept/2026
2,325,368
ISIN
IE00B3VWMM18
Securities Lending Return
as of 30/Jun/2026
0.13%
Product Structure
Physical
Methodology
Optimised
Issuing Company
iShares VII plc
Administrator
BNY Mellon Fund Services (Ireland) Designated Activity Company
Fiscal Year End
31 July
SIPP Available
Yes
UK Reporting Status
Yes

Portfolio Characteristics

Number of Holdings
as of 25/Sept/2026
380
Benchmark Ticker
-
3y Beta
as of 31/Aug/2026
1.004
P/B Ratio
as of 25/Sept/2026
1.49
Benchmark Level
as of 25/Sept/2026
EUR 660.84
Standard Deviation (3y)
as of 31/Aug/2026
13.06%
P/E Ratio
as of 25/Sept/2026
14.60

Registered Locations

  • Austria

  • Czech Republic

  • Denmark

  • Finland

  • France

  • Germany

  • Hungary

  • Ireland

  • Italy

  • Netherlands

  • Norway

  • Poland

  • Portugal

  • Saudi Arabia

  • Slovak Republic

  • Spain

  • Sweden

  • Switzerland

  • United Kingdom

Holdings

Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics.

Exposure Breakdowns

% of Market Value as of
25/Sept/2026
Type
Fund
Industrials27.44
Materials12.28
Consumer Discretionary11.11
Financials10.74
Information Technology8.32
Real Estate6.76
Energy6.25
Communication5.28
Health Care4.39
Utilities3.89
Allocations are subject to change.

Securities Lending

Securities lending is an established and well regulated activity in the investment management industry. It involves the transfer of securities (such as shares or bonds) from a Lender (in this case, the iShares fund) to a third-party (the Borrower). The Borrower will give the Lender collateral (the Borrower’s pledge) in the form of shares, bonds or cash, and will also pay the Lender a fee. This fee provides additional income for the fund and thus can help to reduce the total cost of ownership of an ETF.

 

At BlackRock, securities lending is a core investment management function with dedicated trading, research and technology capabilities. The lending programme is designed to deliver superior absolute returns to clients, whilst maintaining a low risk profile. Funds participating in securities lending retain 62.5% of the income, while BlackRock receives 37.5% of the income and covers all the operational costs resulting from securities lending transactions.

 

From
30-Jun-2016
To
30-Jun-2017		From
30-Jun-2017
To
30-Jun-2018		From
30-Jun-2018
To
30-Jun-2019		From
30-Jun-2019
To
30-Jun-2020		From
30-Jun-2020
To
30-Jun-2021		From
30-Jun-2021
To
30-Jun-2022		From
30-Jun-2022
To
30-Jun-2023		From
30-Jun-2023
To
30-Jun-2024		From
30-Jun-2024
To
30-Jun-2025		From
30-Jun-2025
To
30-Jun-2026
Securities Lending Return (%)
0.24
0.26
0.25
0.23
0.24
0.19
0.21
0.15
0.13
0.13
Average on-loan (% of AUM)
26.39
28.62
31.47
31.74
28.68
29.09
32.22
30.98
32.37
32.15
Maximum on-loan (% of AUM)
31.22
32.12
34.00
34.00
33.34
33.17
34.43
33.76
36.57
34.83
Collateralisation (% of Loan)
110.61
110.98
112.49
111.23
110.92
110.02
109.67
110.47
109.97
109.90
The above table summarises the lending data available for the fund.

The information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months. The figures shown relate to past performance. Past performance is not a reliable indication of current or future results.
BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 01/01/2019 to 31/12/2019 can be publicly disclosed from 01/02/2020.

Maximum on-loan figure may increase or decrease over time.

With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.

Listings

Exchange
Ticker
Currency
Listing Date
SEDOL
Bloomberg Ticker
RIC
Borsa ItalianaCSEMUSEUR19/Oct/2009B5439J1CSEMUS IMCSEMUS.MI
Deutsche Boerse XetraSXRJEUR25/Nov/2009B4MMVT7SXRJ GYSXRJ.DE
London Stock ExchangeCES1GBP15/Sept/2010B52FJN3CES1 LNCES1.L
SIX Swiss ExchangeCSEMUSEUR03/Jul/2009B3VWMM1CSEMUS SWCSEMUS.S

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If the Fund invests in any underlying fund, certain portfolio information, including sustainability characteristics and business-involvement metrics, provided for the Fund may include information (on a look-through basis) of such underlying fund, to the extent available.