Fixed Income

iShares Emerging Markets Government Bond Index Fund (IE)

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.

Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. Changes to interest rates, credit risk and/or issuer defaults will have a significant impact on the performance of fixed income securities. Noninvestment grade fixed income securities can be more sensitive to changes in these risks than higher rated fixed income securities. Potential or actual credit rating downgrades may increase the level of perceived risk. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies.

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

Performance chart data not available for display.
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Distributions

Ex-Date Total Distribution
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This chart shows the fund's performance as the percentage loss or gain per year over the last 4 years.

  2019 2020 2021 2022 2023
Total Return (%) -0.4
Benchmark (%) 5.3

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  From
31/Dec/2018
To
31/Dec/2019
From
31/Dec/2019
To
31/Dec/2020
From
31/Dec/2020
To
31/Dec/2021
From
31/Dec/2021
To
31/Dec/2022
From
31/Dec/2022
To
31/Dec/2023
Total Return (%)

as of 31/Dec/2023

- -0.43 - - -
Benchmark (%)

as of 31/Dec/2023

- 5.26 - - -
  1y 3y 5y 10y Incept.
- - - - -
Benchmark (%) - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-0.04 0.93 4.68 6.33 - - - - -
Benchmark (%) -0.05 0.98 4.68 6.27 - - - - -

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 USD, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. 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 as of 27/Mar/2024 USD 113’749’124
Net Assets of Fund as of 27/Mar/2024 USD 2’654’471’640
Share Class launch date 24/May/2019
Fund Launch Date 04/May/2018
Share Class Currency USD
Fund Base Currency USD
Asset Class Fixed Income
Benchmark Index J.P. Morgan Emerging Markets Bond Index Global Diversified Index
SFDR Classification Other
Initial Charge 0.00
Ongoing Charges Figures 0.03%
ISIN IE00BHZRKF90
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment USD 500’000.00
Minimum Subsequent Investment USD 5’000.00
Use of Income Distributing
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category -
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BIEBFUD
SEDOL BHZRKF9

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 29/Feb/2024 961
12 Month Trailing Dividend Distribution Yield as of 29/Feb/2024 4.31%
Standard Deviation (3y) as of - -
3y Beta as of - -
Yield to Maturity as of 29/Feb/2024 7.01%
Modified Duration as of 29/Feb/2024 6.57
Weighted Av YTM as of 29/Feb/2024 7.00%
Effective Duration as of 29/Feb/2024 6.63
Weighted Avg Maturity as of 29/Feb/2024 11.09 yrs
WAL to Worst as of 29/Feb/2024 11.09 yrs

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/Mar/2024 BB
MSCI ESG % Coverage as of 21/Mar/2024 92.15
MSCI ESG Quality Score (0-10) as of 21/Mar/2024 3.81
MSCI ESG Quality Score - Peer Percentile as of 21/Mar/2024 19.77
Fund Lipper Global Classification as of 21/Mar/2024 Bond Emerging Markets Global HC
Funds in Peer Group as of 21/Mar/2024 430
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21/Mar/2024 943.24
MSCI Weighted Average Carbon Intensity % Coverage as of 21/Mar/2024 14.37
All data is from MSCI ESG Fund Ratings as of 21/Mar/2024, based on holdings as of 30/Nov/2023. 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 29/Feb/2024 0.00%
MSCI - UN Global Compact Violators as of 29/Feb/2024 2.16%
MSCI - Nuclear Weapons as of 29/Feb/2024 0.00%
MSCI - Thermal Coal as of 29/Feb/2024 0.14%
MSCI - Civilian Firearms as of 29/Feb/2024 0.00%
MSCI - Oil Sands as of 29/Feb/2024 0.00%
MSCI - Tobacco as of 29/Feb/2024 0.00%

Business Involvement Coverage as of 29/Feb/2024 12.58%
Percentage of Fund not covered as of 29/Feb/2024 87.42%
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 0.71% and for Oil Sands 0.82%.

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.

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal. (Effective 29/Feb/2024)

Holdings

Holdings

as of 29/Feb/2024
Name Weight (%)
KUWAIT STATE OF (GOVERNMENT) MTN RegS 3.5 03/20/2027 0.66
URUGUAY (ORIENTAL REPUBLIC OF) 5.1 06/18/2050 0.56
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 3.5 07/31/2035 0.53
ARGENTINA REPUBLIC OF GOVERNMENT 3.625 07/09/2035 0.49
ARGENTINA REPUBLIC OF GOVERNMENT 0.75 07/09/2030 0.46
Name Weight (%)
QATAR (STATE OF) RegS 5.103 04/23/2048 0.45
QATAR (STATE OF) RegS 4.817 03/14/2049 0.41
POLAND (REPUBLIC OF) 5.5 04/04/2053 0.38
PETRONAS CAPITAL LTD MTN RegS 4.55 04/21/2050 0.38
POLAND (REPUBLIC OF) 4.875 10/04/2033 0.38
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
as of 29/Feb/2024

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Flex USD 10.69 0.02 0.16 27/Mar/2024 10.77 9.60 IE00BHZRKF90
Flex Hedged Acc EUR 9.83 0.02 0.16 27/Mar/2024 9.83 8.66 IE00BD9H4C29
Flexible Dist Hedged GBP 10.26 0.02 0.16 27/Mar/2024 10.34 9.24 IE000VN2TQC4
Class D Accumulating SGD SGD 11.11 0.04 0.34 27/Mar/2024 11.11 9.75 IE000239FXR9
Class D Acc Hedged EUR 10.11 0.02 0.16 27/Mar/2024 10.11 9.95 IE0000J01ZR0
Inst Acc GBP 9.84 0.01 0.15 27/Mar/2024 9.85 8.79 IE00BLF0J488
Inst Acc USD 11.03 0.02 0.16 27/Mar/2024 11.03 9.64 IE00BZ1NTF08
Class Flexible Acc USD 9.54 0.02 0.16 27/Mar/2024 9.54 8.33 IE00BF2N5S47
Class D Acc USD 11.19 0.02 0.16 27/Mar/2024 11.19 9.78 IE00BF2N5T53
Inst Hedged Acc EUR 8.94 0.01 0.16 27/Mar/2024 8.94 7.89 IE00BJ9MTQ85
Flexible Dist GBP 10.15 0.02 0.15 27/Mar/2024 10.17 9.37 IE000AODOWS0
Class D Dist Hedged GBP 7.70 0.01 0.16 27/Mar/2024 7.76 6.94 IE00BKFVZB33

Portfolio Managers

Portfolio Managers

John Hutson
John Hutson

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 : 3 years
Example Investment USD 10’000
Scenario
If you exit after 1 year
If you exit after 3 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
7’400 USD
-26.0%
5’670 USD
-17.2%

Unfavourable

What you might get back after costs
Average return each year
7’570 USD
-24.3%
8’010 USD
-7.1%

Moderate

What you might get back after costs
Average return each year
10’430 USD
4.3%
11’520 USD
4.8%

Favourable

What you might get back after costs
Average return each year
11’620 USD
16.2%
12’290 USD
7.1%

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



Literature

Literature