Fixed Income

SEMB

iShares J.P. Morgan $ EM Bond UCITS ETF

Overview

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. Fixed income securities issued by governments can be affected by the perceived stability of the country concerned and proposed or actual credit rating downgrades. Certain developing countries are especially large debtors to commercial banks and foreign governments. Investment in debt obligations (sovereign debt) issued or guaranteed by developing governments or their agencies involve a high degree of risk. Compared to more established economies, the value of investments in Emerging Markets may be subject to greater volatility due to differences in generally accepted accounting principles or from economic or political instability.

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

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Distributions

Record Date Ex-Date Total Distribution
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  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
Total Return (%)

as of 31/Mar/2021

8.18 3.69 3.60 -7.13 15.81
Benchmark (%)

as of 31/Mar/2021

8.73 4.10 3.96 -6.73 16.08
  1y 3y 5y 10y Incept.
15.81 3.67 4.56 5.15 5.80
Benchmark (%)

as of 31/Mar/2021

16.08 4.02 4.96 5.63 6.32
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-5.39 -1.10 -5.39 0.32 15.81 11.43 24.99 65.24 109.58
Benchmark (%)

as of 31/Mar/2021

-5.28 -1.07 -5.28 0.51 16.08 12.56 27.41 72.98 123.50
  2016 2017 2018 2019 2020
Total Return (%) 9.62 9.95 -5.48 15.73 5.41
Benchmark (%) 10.17 10.46 -5.17 16.09 5.77

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

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. 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

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Key Facts

Key Facts

Net Assets as of 13/Apr/2021 USD 7,817,706,754
Net Assets of Fund as of 13/Apr/2021 USD 10,822,517,521
Base Currency USD
Share Class Currency USD
Fund Launch Date 15/Feb/2008
Inception Date 15/Feb/2008
Asset Class Fixed Income
Total Expense Ratio 0.45%
Ongoing Charges Figures 0.45%
Product Structure Physical
Methodology Sampled
Domicile Ireland
UCITS Yes
Benchmark Index J.P. Morgan EMBI Global Core Index
Distribution Frequency Monthly
Securities Lending Return as of 31/Dec/2020 0.02%
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status Yes/Yes
Rebalance Frequency Monthly
ISIN IE00B2NPKV68
Bloomberg Ticker SEMB LN
Issuing Company iShares II 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 13/Apr/2021 71,594,444
Number of Holdings as of 12/Apr/2021 546
Benchmark Level as of 13/Apr/2021 USD 617.37
Benchmark Ticker JPEICORE
Distribution Yield as of 12/Apr/2021 3.90
Weighted Avg Coupon as of 12/Apr/2021 4.80
Fiscal Year End 31 October
Effective Duration as of 12/Apr/2021 8.43
Weighted Avg Maturity as of 12/Apr/2021 13.65
Standard Deviation (3y) as of 31/Mar/2021 11.56%
Weighted Average YTM as of 12/Apr/2021 4.39%

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of 07/Apr/2021 BB
MSCI ESG Quality Score (0-10) as of 07/Apr/2021 3.06
MSCI ESG Quality Score - Peer Percentile as of 07/Apr/2021 44.66
MSCI ESG % Coverage as of 07/Apr/2021 94.81
Fund Lipper Global Classification as of 07/Apr/2021 Bond Emerging Markets Global HC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 07/Apr/2021 1,407.74
Funds in Peer Group as of 07/Apr/2021 412
All data is from MSCI ESG Fund Ratings as of 07/Apr/2021, based on holdings as of 28/Feb/2021. 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% of the fund’s gross weight must come from securities covered 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. For newly launched funds, sustainability characteristics are typically available 6 months after launch.

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 12/Apr/2021 0.00%
MSCI - UN Global Compact Violators as of 12/Apr/2021 3.07%
MSCI - Nuclear Weapons as of 12/Apr/2021 0.00%
MSCI - Thermal Coal as of 12/Apr/2021 0.20%
MSCI - Civilian Firearms as of 12/Apr/2021 0.00%
MSCI - Oil Sands as of 12/Apr/2021 0.00%
MSCI - Tobacco as of 12/Apr/2021 0.00%

Business Involvement Coverage as of 12/Apr/2021 11.59%
Percentage of Fund not covered as of 12/Apr/2021 88.41%
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 0.20% and for Oil Sands 1.10%.

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.

Registered Locations

Registered Locations

  • Austria

  • Belgium

  • Chile

  • Czech Republic

  • Denmark

  • Finland

  • France

  • Germany

  • Ireland

  • Italy

  • Liechtenstein

  • Luxembourg

  • Netherlands

  • Norway

  • Portugal

  • Singapore

  • Slovak Republic

  • Spain

  • Sweden

  • Switzerland

  • United Kingdom

Holdings

Holdings

as of 12/Apr/2021
Ticker ISIN Name Sector Location Asset Class Nominal Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of 12/Apr/2021
Issuer Weight (%)
QATAR (STATE OF) 4.07
SAUDI ARABIA (KINGDOM OF) 3.94
TURKEY (REPUBLIC OF) 3.76
RUSSIAN FEDERATION 3.51
PHILIPPINES (REPUBLIC OF) 3.39
Issuer Weight (%)
COLOMBIA (REPUBLIC OF) 3.29
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 3.19
DOMINICAN REPUBLIC (GOVERNMENT) 3.04
INDONESIA (REPUBLIC OF) 2.96
EGYPT (ARAB REPUBLIC OF) 2.94
Issuer Ticker Name Asset Class Weight (%) Price Nominal Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Location Market Currency Duration

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 12/Apr/2021

% of Market Value

Type Fund
as of 12/Apr/2021

% 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 location where the issuer of the securities carries out much of their business.
as of 12/Apr/2021

% of Market Value

Type Fund
as of 12/Apr/2021

% of Market Value

Type Fund
as of 12/Apr/2021

% 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.

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-Dec-2019
To
31-Dec-2020
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2015
To
31-Dec-2016
Securities Lending Return (%) 0.02 0.02 0.03 0.03 0.05
Average on-loan (% of AUM) 10.04 15.30 12.87 9.32 10.19
Maximum on-loan (% of AUM) 17.10 19.31 16.70 15.31 18.05
Collateralisation (% of Loan) 106.73 107.06 106.56 107.64 107.69
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 12/Apr/2021
Name Ticker ISIN SEDOL Exchange Location Asset Class Weight %
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%

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

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 SEMB GBP 18/Feb/2008 B2NPKV6 SEMB LN SEMB.L INAVJPG JPEMGBP=INAV IE00B2NPKV68 - 3801845 - -
Deutsche Boerse Xetra IUS7 EUR 17/Mar/2009 BSKRK40 IUS7 GY IUS7.DE INAVJPE JPEMEUR=INAV IE00B2NPKV68 A0NECU - - -
London Stock Exchange IEMB USD 18/Feb/2008 B2NXVM8 IEMB LN IEMB.L INAVJPU JPEMUSD=INAV IE00B2NPKV68 - - - -
Bolsa Mexicana De Valores IEMB MXN 17/Apr/2017 - IEMBN MM - - - - - - - -
Borsa Italiana IEMB EUR 09/Nov/2010 B65BC70 IEMB IM IEMB.MI INAVJPE JPEMEUR=INAV IE00B2NPKV68 - - - -
SIX Swiss Exchange IEMB USD 05/Jul/2011 B5NVS66 IEMB SW IEMB.S INAVJPU JPEMUSD=INAV IE00B2NPKV68 - 3801845 - -

Literature

Literature