Equity

IMIB

iShares FTSE MIB UCITS ETF EUR (Dist)

Overview

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
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Performance

Performance

Chart

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Distributions

Record Date Ex-Date Payable Date
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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 2.3 15.0 -7.3 16.5 -13.9 32.7 -3.9 26.9 -9.7 33.8
Benchmark (%) 2.4 15.0 -7.5 16.3 -14.0 32.4 -3.9 26.2 -10.3 32.8
  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
Total Return (%)

as of 30/Jun/2024

-7.02 31.83 -11.24 38.54 23.02
Benchmark (%)

as of 30/Jun/2024

-7.06 31.68 -11.90 37.48 22.07
  1y 3y 5y 10y Incept.
23.02 14.80 13.14 7.79 1.73
Benchmark (%) 22.07 13.92 12.59 7.47 1.46
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
13.08 -3.64 -1.63 13.08 23.02 51.28 85.41 111.73 33.72
Benchmark (%) 12.41 -3.69 -2.21 12.41 22.07 47.84 80.94 105.55 27.81

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

Share Class and Benchmark performance displayed in EUR, hedged share class benchmark performance is displayed in EUR.

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 Facts

Key Facts

Net Assets of Fund
as of 17/Jul/2024
EUR 135’977’200
Fund Base Currency
EUR
Benchmark Index
FTSE MIB Index
Shares Outstanding
as of 17/Jul/2024
6’540’814
ISIN
IE00B1XNH568
Use of Income
Distributing
Domicile
Ireland
Rebalance Frequency
Quarterly
UCITS Compliant
Yes
Fund Manager
BlackRock Asset Management Ireland Limited
Custodian
The Bank of New York Mellon SA/NV, Dublin Branch
Bloomberg Ticker
IMIB BW
Fund Launch Date
06/Jul/2007
Asset Class
Equity
SFDR Classification
Other
Total Expense Ratio
0.35%
Distribution Frequency
Semi-Annual
Securities Lending Return
as of 31/Mar/2024
0.04 %
Product Structure
Physical
Methodology
Replicated
Issuing Company
iShares II plc
Administrator
BNY Mellon Fund Services (Ireland) Designated Activity Company
Fiscal Year End
31 October
Valor
3246482

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 16/Jul/2024
40
Benchmark Ticker
FTSEMIBN
Standard Deviation (3y)
as of 30/Jun/2024
18.24%
P/E Ratio
as of 16/Jul/2024
9.29
Benchmark Level
as of 17/Jul/2024
EUR 67’062.84
12 Month Trailing Dividend Distribution Yield
as of 16/Jul/2024
3.92%
3y Beta
as of 30/Jun/2024
1.00
P/B Ratio
as of 16/Jul/2024
2.04

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.

The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.

Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC)
as of 21/Jun/2024
A
MSCI ESG Quality Score (0-10)
as of 21/Jun/2024
7.02
Fund Lipper Global Classification
as of 21/Jun/2024
Equity Italy
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of 21/Jun/2024
99.57
MSCI Implied Temperature Rise (0-3.0+ °C)
as of 21/Jun/2024
> 1.5° - 2.0° C
MSCI ESG % Coverage
as of 21/Jun/2024
99.99
MSCI ESG Quality Score - Peer Percentile
as of 21/Jun/2024
89.19
Funds in Peer Group
as of 21/Jun/2024
37
MSCI Weighted Average Carbon Intensity % Coverage
as of 21/Jun/2024
99.72
MSCI Implied Temperature Rise % Coverage
as of 21/Jun/2024
99.70

What is the Implied Temperature Rise (ITR) metric? Learn what the metric means, how it is calculated, and about the assumptions and limitations for this forward-looking climate-related metric.

To address climate change, many of the world's major countries have signed the Paris Agreement. The temperature goal of the Paris Agreement is to limit global warming to well below 2°C above pre-industrial levels, and ideally 1.5 °C, which will help us avoid the most severe impacts of climate change.


What is the ITR metric?

The ITR metric is used to provide an indication of alignment to the temperature goal of the Paris Agreement for a company or a portfolio. ITR employs open source 1.55° C decarbonization pathways derived from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). These pathways can be regional and sector specific and set a net zero target of 2050, in line with GFANZ (Glasgow Financial Alliance for Net Zero) industry standards. We make use of this feature for all GHG scopes. This enhanced ITR model was implemented by MSCI on February 19, 2024.


How is the ITR metric calculated?

The ITR metric is calculated by looking at the current emissions intensity of companies within the fund's portfolio as well as the potential for those companies to reduce its emissions over time. If emissions in the global economy followed the same trend as the emissions of companies within the fund's portfolio, global temperatures would ultimately rise within this band.


Note, only corporate issuers are covered within the calculation. A summary explanation of MSCI’s methodology and assumptions for its ITR metric can be found here.


Because the ITR metric is calculated in part by considering the potential for a company within the fund’s portfolio to reduce its emissions over time, it is forward-looking and prone to limitations. As a result, BlackRock publishes MSCI’s ITR metric for its funds in temperature range bands. The bands help to underscore the underlying uncertainty in the calculations and the variability of the metric.

Thermometer-style chart of yellow to red temperature bands showing an investment’s position relative to the Paris Agreement temperature goals. Metric data source MSCI

What are the key assumptions and limitations of the ITR metric?

This forward-looking metric is calculated based on a model, which is dependent upon multiple assumptions. Also, there are limitations with the data inputs to the model. Importantly, an ITR metric may vary meaningfully across data providers for a variety of reasons due to methodological choices (e.g., differences in time horizons, the scope(s) of emissions included and portfolio aggregation calculations).

There is not a universally accepted way to calculate an ITR. There is not a universally agreed upon set of inputs for the calculation. At present, availability of input data varies across asset classes and markets. To the extent that data becomes more readily available and more accurate over time, we expect that ITR metric methodologies will evolve and may result in different outputs. Funds may change bands as methodologies evolve. Where data is not available, and / or if data changes, the estimation methods vary, particularly those related to a company’s future emissions.


The ITR metric estimates a fund’s alignment with the Paris Agreement temperature goal based on a credibility assessment of stated decarbonization targets. However, there is no guarantee that these estimates will be reached. The ITR metric is not a real time estimate and may change over time, therefore it is prone to variance and may not always reflect a current estimate.


The ITR metric is not an indication or estimate of a fund’s performance or risk. Investors should not rely on this metric when making an investment decision and instead should refer to a fund’s prospectus and governing documents. This estimate and the associated information is not intended as a recommendation to invest in any fund, nor is it intended to indicate any correlation between a fund’s ITR metric and its future investment performance.

All data is from MSCI ESG Fund Ratings as of 21/Jun/2024, based on holdings as of 31/May/2024. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of 16/Jul/2024
0.00%
MSCI - Nuclear Weapons
as of 16/Jul/2024
1.84%
MSCI - Civilian Firearms
as of 16/Jul/2024
0.00%
MSCI - Tobacco
as of 16/Jul/2024
0.00%
MSCI - UN Global Compact Violators
as of 16/Jul/2024
0.00%
MSCI - Thermal Coal
as of 16/Jul/2024
0.00%
MSCI - Oil Sands
as of 16/Jul/2024
0.00%

Business Involvement Coverage
as of 16/Jul/2024
100.00%
Percentage of Fund not covered
as of 16/Jul/2024
0.00%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

Ratings

Registered Locations

Registered Locations

  • Austria

  • Belgium

  • France

  • Germany

  • Ireland

  • Italy

  • Luxembourg

  • Netherlands

  • Portugal

  • Singapore

  • Spain

  • Switzerland

  • United Kingdom

Holdings

Holdings

Issuer Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Nominal ISIN Price Location Exchange Market Currency
Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics.

Exposure Breakdowns

Exposure Breakdowns

as of 16/Jul/2024

% of Market Value

Type Fund
Allocations are subject to change.

Securities Lending

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
31/Mar/2014
To
31/Mar/2015
From
31/Mar/2015
To
31/Mar/2016
From
31/Mar/2016
To
31/Mar/2017
From
31/Mar/2017
To
31/Mar/2018
From
31/Mar/2018
To
31/Mar/2019
From
31/Mar/2019
To
31/Mar/2020
From
31/Mar/2020
To
31/Mar/2021
From
31/Mar/2021
To
31/Mar/2022
From
31/Mar/2022
To
31/Mar/2023
From
31/Mar/2023
To
31/Mar/2024
Securities Lending Return (%) 0.09 0.07 0.11 0.06 0.06 0.04 0.03 0.03 0.03 0.04
Average on-loan (% of AUM) 12.38 13.33 16.15 18.78 21.31 19.89 18.39 16.15 18.58 15.70
Maximum on-loan (% of AUM) 47.47 42.22 56.52 29.90 34.79 36.12 28.73 28.17 37.09 35.03
Collateralisation (% of Loan) 112.88 111.58 111.01 109.68 110.72 109.92 110.84 109.66 110.22 109.40
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.
as of 16/Jul/2024
Ticker Name Asset Class Weight % ISIN SEDOL Exchange Location
Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

The information in the Collateral Holdings table relates to securities obtained in the collateral basket under the securities lending programme for the fund in question. The information contained in this material is derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, is not necessarily all inclusive and is not guaranteed as to accuracy. Reliance upon information in this material is at the sole discretion of the reader. The primary risk in securities lending is that a borrower will default on their commitment to return lent securities while the value of the liquidated collateral does not exceed the cost of repurchasing the securities and the fund suffers a loss in respect of the short-fall.
The below table shows the Loan/Collateral Combinations and Collateral Levels for our European Lending funds.
Collateral Types
Loan Type Equities Government, Supranational and Agency Bonds Cash (Not for Reinvestment)
Equities 105%-112% 105%-106% 105%-108%
Government Bonds 110%-112% 102.5%-106% 102.5%-105%
Corporate Bonds 110%-112% 104%-106% 103.5%-105%

We also accept selected physically replicating Equity, Government Bond, Credit and Commodity ETFs as collateral.

Collateral parameters depend on the collateral and the loan combination, and the over collateralisation level may range from 102.5% to 112%. In this context, “Over Collateralisation” means that the aggregate market value of collateral taken will exceed the overall on-loan value. Collateral parameters are reviewed on an ongoing bases and are subject to change.
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

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC WKN
London Stock Exchange IMIB GBP 09/Jul/2007 B1Y9MY7 IMIB LN IMIB.L A0MZWP
Berne Stock Exchange IMIB CHF 02/Feb/2021 BMT9S85 IMIB BW IMIB.BN A0MZWP
Borsa Italiana IMIB EUR 18/Mar/2008 B28PMH1 IMIB IM IMIB.MI -

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 5 years
Example Investment EUR 10’000
Scenario
If you exit after 1 year
If you exit after 5 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
6’940 EUR
-30.6%
1’980 EUR
-27.7%

Unfavourable

What you might get back after costs
Average return each year
7’380 EUR
-26.2%
8’470 EUR
-3.3%

Moderate

What you might get back after costs
Average return each year
10’870 EUR
8.7%
13’920 EUR
6.8%

Favourable

What you might get back after costs
Average return each year
15’370 EUR
53.7%
20’680 EUR
15.6%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature