IEGZ

iShares € Govt Bond 10-15yr UCITS ETF

Fixed Income

IEGZ

iShares € Govt Bond 10-15yr UCITS ETF

Overview

WHY IEGZ?

  1. Targeted exposure to long-term Euro government bonds
  2. Direct investment in government bonds
  3. Regional government bond exposure

INVESTMENT OBJECTIVE

The Fund seeks to track the performance of an index composed of investment grade government bonds from France, Germany, Italy, Netherlands, and Spain.

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed.

Important Information: The value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The Fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest. Therefore the value of these securities are sensitive to movements in interest rates; typically when interest rates rise there is a corresponding decline in the market value of bonds.

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

  • Returns

  From
30-Jun-2014
To
30-Jun-2015		 From
30-Jun-2015
To
30-Jun-2016		 From
30-Jun-2016
To
30-Jun-2017		 From
30-Jun-2017
To
30-Jun-2018		 From
30-Jun-2018
To
30-Jun-2019
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.

as of 30/Jun/2019

7.45 14.26 -5.34 2.42 9.64
Benchmark (%) Index: Bloomberg Barclays Euro Government Bond 10-15 yr Term Index

as of 30/Jun/2019

7.66 14.49 -5.17 2.65 9.86
  2014 2015 2016 2017 2018
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment. 23.70 2.62 4.15 0.32 1.06
Benchmark (%) Index: Bloomberg Barclays Euro Government Bond 10-15 yr Term Index 23.97 2.83 4.32 0.51 1.30

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged fund 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

Chart

Performance chart data not available for display.
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The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged fund 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

Distributions

Record Date Ex-Date Total Distribution
View full table
Announcement Date Record Date Ex-Date Payable Date Total Distribution

Key Facts

Key Facts

Net Assets as of 23/Aug/2019 EUR 160,879,098
Base Currency EUR
Inception Date 17/Apr/2009
Asset Class Fixed Income
Total Expense Ratio A measure of the total costs associated with managing and operating the product. The Total Expense Ratio (TER) consists primarily of the management fee and other expenses such as trustee, custody, registration fees and other operating expenses. 0.20%
Ongoing Charges Figures Ongoing Charges Figure (OCF)- this is a measure of the total costs associated with managing and operating an investment fund. These costs consist primarily of management fees and other expenses such as trustee, custody, transaction and registration fees and other operating expenses. The total cost for the fund is divided by the fund’s total assets and expressed as a percentage which represents the OCF. 0.20%
Product Structure For an ETF, the Product Structure indicates whether it is holding physical securities (i.e. Physical) or whether it is tracking the index performance using derivatives (swaps, i.e. Synthetic). For ETCs, Product Structure indicates that the metal backing the securities are physically held. Physical
Methodology For an ETF, the Methodology indicates whether the product is holding all index securities in the same weight as the index (replicating) or whether an optimised subset of index securities is used (optimised / sampled) in order to efficiently track index performance. For ETCs, the metal backing the securities are always physically held. Sampled
Domicile Ireland
UCITS Undertakings for Collective Investment in Transferable Securities, commonly known as "UCITS", are collective investment schemes (a type of investment product) which are established and authorised in one EU Member State and designed for EU retail investors. Once authorised, UCITS can be sold cross border to EU retail investors in other EU Member States using a registration process, but without a requirement for separate authorisation. Yes
Benchmark Index Bloomberg Barclays Euro Government Bond 10-15 yr Term Index
Distribution Frequency How often a distribution is paid by the product. The most common distribution frequencies are annually, semi annually and quarterly. Semi-Annual
Securities Lending Return Annualised Securities Lending Return is the net 12 month securities lending revenue to the fund divided by the average NAV of the fund over the same time period. as of 30/Jun/2019 0.01%
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status Yes/Yes
Rebalance Frequency Monthly
ISIN IE00B4WXJH41
Bloomberg Ticker IEGZ LN
Issuing Company iShares III plc
Fund Manager BlackRock Asset Management Ireland Limited
Administrator State Street Fund Services (Ireland) Limited
Custodian State Street Custodial Services (Ireland) Limited
Use of Income Distributing

Portfolio Characteristics

Portfolio Characteristics

Shares Outstanding as of 23/Aug/2019 820,000
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives exposures. Derivatives are contracts used by the fund to gain exposure to an investment without buying it directly. They can be used in a number of ways. For example a 'currency forward' derivative contract can be used to 'hedge' or aim to mitigate the effects of changes in exchange rates. as of 22/Aug/2019 20
Benchmark Level as of 23/Aug/2019 EUR 409.12
Benchmark Ticker BXIIET15
Distribution Yield The distribution yield represents the ratio of distributed income over the last 12 months to the fund’s current NAV. as of 22/Aug/2019 1.17
Weighted Avg Coupon The coupon is the annual interest rate paid by a bond issuer on the face value of the bond. The Weighted Averaged Coupon (WAC) of the ETF is calculated as the average of the underlying bonds' coupon rates weighted by the bonds' weight in the fund. as of 22/Aug/2019 3.57
Fiscal Year End 30/Jun/2016
Effective Duration A measure of the responsiveness of a bond's or portfolio's price to changes in interest rates. Effective Duration adjusts for changes in projected cash flows as a result of yield changes, accounting for embedded optionality. as of 22/Aug/2019 10.30
Weighted Avg Maturity Weighted Average Maturity is the length of time until the average security in the fund will mature or be redeemed by its issuer. It indicates a fixed income fund's sensitivity to interest rate changes. Longer average weighted maturity implies greater volatility in response to interest rate changes. This metric considers the likelihood that bonds will be called or prepaid. as of 22/Aug/2019 12.14
Standard Deviation (3y) Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile. as of 31/Jul/2019 5.78%
Weighted Average YTM Yield to Maturity (YTM) is the discount rate that equates the present value of a bond's cash flows with its market price (including accrued interest). The Fund Average YTM is the weighted average of the fund's individual bond holding YTMs based upon Net Asset Value ('NAV'). The measure does not include fees and expenses. as of 22/Aug/2019 0.40%

Registered Countries

Registered Countries

  • Austria

  • Denmark

  • Finland

  • France

  • Germany

  • Ireland

  • Italy

  • Luxembourg

  • Netherlands

  • Norway

  • Portugal

  • Singapore

  • Spain

  • Sweden

  • Switzerland

  • United Kingdom

Holdings

Holdings

as of 22/Aug/2019
Ticker ISIN Name Name of Issuer Sector Location Asset Class Nominal Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of 22/Aug/2019
Issuer Weight (%)
ITALY (REPUBLIC OF) 34.51
FRANCE (REPUBLIC OF) 31.85
SPAIN (KINGDOM OF) 15.61
Issuer Weight (%)
GERMANY (FEDERAL REPUBLIC OF) 14.82
NETHERLANDS (KINGDOM OF) 3.13
Issuer Ticker Name Name of the underlying security Asset Class Weight (%) Price Nominal Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Location Market Currency Duration

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.

 

Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

12 Month Lending Summary as of 30/Jun/2019~

  • Securities Lending Return*: 0.01
  • Average on-loan (% of AUM): 9.39
  • Maximum on-loan (% of AUM)†: 23.71
  • Collateralisation (% of Loan): 108.46
as of 22/Aug/2019
Name Ticker ISIN SEDOL Location Asset Class Weight (%)

Loan/Collateral Combinations and Collateral Levels**

Collateral Types
Loan TypeEquitiesGovernment, Supranational and Agency BondsCash (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%
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 information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months.

*Annualised Securities Lending Return is calculated using unaudited 12 month net securities lending revenues to the fund divided by the average NAV of the fund over the same period. 62.5% of all securities lending income is paid directly into the fund, with BlackRock receiving 37.5% compensation which covers all operational costs. BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 0/01/2015 to 31/12/2015 can be publicly disclosed from 01/02/2016.

+Maximum on-loan figure may increase or decrease over time.
**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 basis and are subject to change.
Detailed Holdings and Analytics

The preliminary holdings of the fund are those taken prior to the start of each business day and are used to generate a daily static cash flow profile. This is determined by using a number of consistent assumptions which BlackRock believe to be appropriate in illustrating the cash flow profile of the fund for that day. The cash flow data is projected using the aggregated expected coupon and maturities of the individual bond holdings of the fund. Holdings and cashflows are subject to change and this information is not to be relied upon.

Exposure Breakdowns

Exposure Breakdowns

as of 22/Aug/2019

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the country where the issuer of the securities carries out much of their business.
as of 22/Aug/2019

% of Market Value

Type Fund
as of 22/Aug/2019

% of Market Value

Type Fund
as of 22/Aug/2019

% of Market Value

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Allocations are subject to change.

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC Bloomberg INAV Reuters INAV ISIN WKN Valor Common Code (EOC) ISIN of INAV
London Stock Exchange IEGZ EUR 20/Apr/2009 B4WXJH4 IEGZ LN IEGZ.L INAVIBZE IBGZEUR.DE IE00B4WXJH41 - 10127472 - -
Euronext Amsterdam IEGZ EUR 13/Oct/2009 B4VMSS6 IEGZ NA IEGZ.AS INAVIBZE IBGZEUR.DE IE00B4WXJH41 - - - -
Deutsche Boerse Xetra EUN8 EUR 20/Oct/2009 BYMJHN4 EUN8 GY EUN8.DE INAVIBZE IBGZEUR.DE IE00B4WXJH41 A0RL82 - - -
London Stock Exchange IBGZ GBP 20/Apr/2009 B4WXJQ3 IBGZ LN IBGZ.L INAVIBZ IBGZGBP.DE IE00B4WXJH41 - - - -
Borsa Italiana IBGZ EUR 19/Jan/2010 B581BJ5 IBGZ IM IBGZ.MI INAVIBZE IBGZEUR.DE IE00B4WXJH41 - - - -
SIX Swiss Exchange IEGZ CHF 05/Jul/2011 B4MDS99 IEGZ SW IEGZ.S INAVIBZC IBGZCHF.DE IE00B4WXJH41 - 10127472 - -

Literature

Literature