Fixed Income

CEMB

iShares J.P. Morgan EM Corporate Bond ETF

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
4.55 4.34 6.27 - 4.54
Market Price (%) 5.23 4.57 6.52 - 4.64
Benchmark (%) 5.36 4.99 6.88 - 5.14
After Tax Pre-Liq. (%) 2.79 2.50 4.35 - 2.74
After Tax Post-Liq. (%) 2.65 2.50 3.96 - 2.66
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.42 -0.59 2.72 14.33 4.55 13.59 35.50 - 45.53
Market Price (%) 2.73 -0.80 3.28 17.97 5.23 14.36 37.13 - 46.73
Benchmark (%) 3.05 -0.54 2.87 14.68 5.36 15.72 39.49 - 52.74
After Tax Pre-Liq. (%) 1.25 -0.72 2.31 13.35 2.79 7.69 23.73 - 25.65
After Tax Post-Liq. (%) 1.40 -0.35 1.61 8.45 2.65 7.69 21.43 - 24.90
  2015 2016 2017 2018 2019
Total Return (%) -0.60 10.94 7.88 -2.83 13.48
Market Price (%) -0.86 11.63 7.17 -2.76 13.82
Benchmark (%) 0.08 11.30 8.30 -2.06 13.94
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Net Assets as of Oct 16, 2020 $211,066,356
Inception Date Apr 17, 2012
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index J.P. Morgan CEMBI Broad Diversified Core Index
Bloomberg Index Ticker JBCDCORE
Shares Outstanding as of Oct 16, 2020 4,100,000
Premium/Discount as of Oct 16, 2020 0.64%
CUSIP 464286251
Closing Price as of Oct 16, 2020 51.81
Options Available No
30 Day Avg. Volume as of Oct 16, 2020 27,392.00
30 Day Median Bid/Ask Spread as of Oct 16, 2020 0.14%
Daily Volume as of Oct 16, 2020 24,165.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Oct 16, 2020 707
Equity Beta (3y) as of Sep 30, 2020 0.33
30 Day SEC Yield as of Oct 16, 2020 3.46%
Average Yield to Maturity as of Oct 16, 2020 3.91%
Standard Deviation (3y) as of Sep 30, 2020 8.56%
12m Trailing Yield as of Oct 16, 2020 4.06%
Weighted Avg Coupon as of Oct 16, 2020 4.92%
Effective Duration as of Oct 16, 2020 5.17 yrs
Weighted Avg Maturity as of Oct 16, 2020 7.32 yrs
Convexity as of Oct 16, 2020 0.28
Option Adjusted Spread as of Oct 16, 2020 340
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

ESG metrics help investors evaluate companies based on environmental, social, and governance risks and opportunities — and the companies’ ability to manage them. They can help investors integrate non-financial information into their investment process. Learn more.

MSCI ESG Rating as of Oct 01, 2020 BB
MSCI ESG Quality Score as of Oct 01, 2020 3.6
MSCI ESG Quality Score - Peer Percentile as of Oct 01, 2020 74.55%
MSCI ESG % Coverage as of Oct 01, 2020 90.85%
Fund Lipper Global Classification as of Oct 01, 2020 Bond Emerging Markets Global HC
MSCI Weighted Average Carbon Intensity
(Tons CO2E/$M SALES) as of Oct 01, 2020
691.57
Fund Lipper Global Classification Size as of Oct 01, 2020 385
All data is from MSCI ESG Fund Ratings as of Oct 01, 2020, based on holdings as of Jul 31, 2020.

For newly launched funds, sustainability characteristics are typically available 6 months after launch.

 

Sustainability Characteristics are displayed for funds included in the MSCI ESG Fund Ratings. To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

 

Inclusion of Sustainability Characteristics is not indicative of a fund’s investment objective, nor is it an implication that a fund employs an ESG-related portfolio management strategy.

Fees

Fees

as of current prospectus
Management Fee 0.50%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.50%

Holdings

Holdings

as of Oct 16, 2020
Issuer Weight (%)
ECOPETROL SA 2.04
TEVA PHARMACEUTICAL FINANCE NETHERLANDS III BV 2.03
SAUDI ARABIAN OIL CO 1.78
PETROBRAS GLOBAL FINANCE BV 1.75
SANDS CHINA LTD 1.54
Issuer Weight (%)
BOC AVIATION LTD 1.30
ABU DHABI NATIONAL ENERGY COMPANY PJSC 1.10
GAZ CAPITAL SA 1.02
FIRST QUANTUM MINERALS LTD 0.94
AMERICA MOVIL SAB DE CV 0.84
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency
Holdings are subject to change.

Non-U.S. securities whose values are affected by volatility that occurs in global markets or in related or highly correlated assets (e.g., American Depositary Receipts, Global Depositary Receipts or substantially identical ETFs) on a trading day after the close of non-U.S. securities markets may be fair valued. On days where non-U.S. securities markets are closed, BlackRock Fund Advisors, an affiliate of BlackRock Investments, LLC, will determine the fair value of the stocks traded on that local market, in accordance with policies and procedures approved by the Fund’s Board of Directors/Trustees. Fair value adjustments may be calculated by referring to instruments and markets that have continued to trade, such as exchange-traded funds, correlated stock market indices or index futures. Please see the Determination of Net Asset Value section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Oct 16, 2020

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Oct 16, 2020

% 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. Bonds are included in US bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer. 
as of Oct 16, 2020

% of Market Value

Type Fund
as of Oct 16, 2020

% 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.

Price Yield Calculator

Price Yield Calculator

The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's "Weighted Avg YTM For more information on Aggregate Cash Flow Yield, see info here.

As of 10/16/20
Price $51.81
3.90%
Modified Duration 5.43 years

Spread of ACF Yield (3.90%) over 7.00 yr Treasury Yield (0.52%) As of 10/16/20 is + 337 bps

Results generated are for illustrative purposes only and are not representative of any specific investments outcome. For standardized performance, please click the ‘returns’ tab above.

Literature

Literature

 

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