Fixed Income

iShares Euro Government Inflation-Linked 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. 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. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. Inflation linked bonds are fixed interest securities where the coupon payments increase and decrease with changes in official inflation rates. Such bonds offer investors some protection against rising levels of inflation, since rising official inflation data automatically feeds through into coupon payments. However, Investors should be aware that inflation linked bonds may, under certain circumstances, offer a slightly lower coupon payment compared to other types of fixed interest securities. Also, given that these securities are not exposed to inflation rate risk, should inflation rates decrease, the value of an inflation linked bond may not increase in price as might be expected for some other sorts of bond. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets.

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

Growth of Hypothetical 10,000

Performance chart data not available for display.
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  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 5.19 1.00 3.80 1.39 -1.43 6.57 3.25 6.44 -9.61 5.99
Benchmark (%) 5.27 0.82 3.79 1.40 -1.46 6.56 3.13 6.35 -9.66 5.93

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

  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
Total Return (%)

as of Mar 31, 2024

-0.35 10.42 6.71 -8.16 2.21
Benchmark (%)

as of Mar 31, 2024

-0.39 10.30 6.66 -8.21 2.19
  1Y 3Y 5Y 10y Incept.
1.42 0.03 1.72 1.80 1.91
Benchmark (%) 1.45 0.01 1.67 1.75 1.91
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-1.16 -0.70 -0.27 4.02 1.42 0.10 8.90 19.48 31.48
Benchmark (%) -1.09 -0.65 -0.19 4.04 1.45 0.03 8.65 18.89 31.50
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.

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. 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 May 16, 2024 EUR 48,491,347
Net Assets of Fund as of May 16, 2024 EUR 134,827,890
Share Class Inception Date Nov 5, 2009
Fund Inception Date Apr 3, 2009
Share Class Currency EUR
Base Currency EUR
Asset Class Fixed Income
Benchmark Index BBG Euro Government Inflation-Linked Bond Index
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.03%
ISIN IE00B4WXT741
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment EUR 500000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category EUR Inflation-Linked Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGIEGFA
SEDOL B4WXT74

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Apr 30, 2024 37
Standard Deviation (3y) as of Apr 30, 2024 8.38%
3y Beta as of Apr 30, 2024 1.002
Yield to Maturity as of Apr 30, 2024 3.16%
Modified Duration as of Apr 30, 2024 7.99 yrs
Yield to Worst as of Apr 30, 2024 1.13%
Effective Duration as of Apr 30, 2024 8.10 yrs
Weighted Avg Maturity as of Apr 30, 2024 8.66 yrs
WAL to Worst as of Apr 30, 2024 8.66 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 Apr 21, 2024 A
MSCI ESG % Coverage as of Apr 21, 2024 100.00
MSCI ESG Quality Score (0-10) as of Apr 21, 2024 6.21
MSCI ESG Quality Score - Peer Percentile as of Apr 21, 2024 47.83
Fund Lipper Global Classification as of Apr 21, 2024 Bond EUR Inflation Linked
Funds in Peer Group as of Apr 21, 2024 46
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
MSCI Weighted Average Carbon Intensity % Coverage as of Apr 21, 2024 0.00
All data is from MSCI ESG Fund Ratings as of Apr 21, 2024, based on holdings as of Dec 31, 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.

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for iShares Euro Government Inflation-Linked Bond Index Fund (IE), Flex, as of Apr 30, 2024 rated against 138 EUR Inflation-Linked Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Mar 31, 2024)

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Apr 30, 2024
Name Weight (%)
FRANCE (REPUBLIC OF) 1.85 07/25/2027 5.78
GERMANY (FEDERAL REPUBLIC OF) 0.5 04/15/2030 4.83
GERMANY (FEDERAL REPUBLIC OF) 0.1 04/15/2026 4.13
FRANCE (REPUBLIC OF) 3.15 07/25/2032 4.08
SPAIN (KINGDOM OF) 0.7 11/30/2033 3.96
Name Weight (%)
FRANCE (REPUBLIC OF) 0.1 03/01/2029 3.92
FRANCE (REPUBLIC OF) 0.7 07/25/2030 3.86
FRANCE (REPUBLIC OF) 1.8 07/25/2040 3.83
SPAIN (KINGDOM OF) 1 11/30/2030 3.83
ITALY (REPUBLIC OF) 2.55 09/15/2041 3.77
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Apr 30, 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 EUR 13.27 -0.01 -0.06 May 16, 2024 13.48 12.45 IE00B4WXT741
Inst EUR 13.90 -0.01 -0.06 May 16, 2024 14.13 13.04 IE00B4WXT857
D EUR 11.26 -0.01 -0.06 May 16, 2024 11.45 10.57 IE00BD0NC144

Portfolio Managers

Portfolio Managers

Francis Rayner
Francis Rayner
Francis Rayner
Francis Rayner
PortSols RATES LON GFI-EU Group
PortSols RATES LON GFI-EU Group

Literature

Literature