Equity

iShares North America 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 may be exposed to finance sector companies, as a service provider or as counterparty for financial contracts. Liquidity in the financial markets has been severely restricted, causing a number of firms to withdrawn from the market, or in some extreme cases, becoming insolvent. This may have an adverse affect on the activities of the fund.
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Performance

Performance

Growth of Hypothetical 10,000

View full chart

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 27.26 10.25 14.78 6.08 -1.12 33.01 9.86 35.91 -14.34 21.55
Benchmark (%) 27.42 10.39 14.91 6.19 -0.98 33.10 10.04 36.04 -14.25 21.70

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

  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of Jun 30, 2024

8.32 34.41 -1.33 13.31 25.49
Benchmark (%)

as of Jun 30, 2024

8.43 34.54 -1.22 13.45 25.63
  1Y 3Y 5Y 10y Incept.
25.49 11.95 15.35 14.31 14.71
Benchmark (%) 25.63 12.08 15.48 14.44 14.76
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
17.51 4.64 4.45 17.51 25.49 40.29 104.26 280.83 445.00
Benchmark (%) 17.58 4.65 4.49 17.58 25.63 40.79 105.39 285.22 447.58
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 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 Jul 16, 2024
EUR 491,846,963
Share Class Inception Date
Feb 24, 2012
Share Class Currency
EUR
Asset Class
Equity
SFDR Classification
Other
Ongoing Charge
0.17%
Annual Management Fee
0.15%
Minimum Initial Investment
EUR 1000000
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
US Large-Cap Blend Equity
Dealing Frequency
Daily, forward pricing basis
SEDOL
B78CT21
Net Assets of Fund
as of Jul 16, 2024
USD 3,800,843,332
Fund Inception Date
Apr 30, 2001
Base Currency
USD
Benchmark Index
MSCI Daily Net TR North America EUR
Initial Charge
0.00%
ISIN
IE00B78CT216
Performance Fee
0.00%
Minimum Subsequent Investment
EUR 10000
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGINAEA

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jun 28, 2024
687
3y Beta
as of Jun 30, 2024
1.000
P/B Ratio
as of Jun 28, 2024
4.54
Standard Deviation (3y)
as of Jun 30, 2024
15.39%
P/E Ratio
as of Jun 28, 2024
26.85

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 Jun 21, 2024
A
MSCI ESG Quality Score (0-10)
as of Jun 21, 2024
6.66
Fund Lipper Global Classification
as of Jun 21, 2024
Equity US
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jun 21, 2024
94.33
MSCI Implied Temperature Rise (0-3.0+ °C)
as of Jun 21, 2024
> 2.5° - 3.0° C
MSCI ESG % Coverage
as of Jun 21, 2024
99.85
MSCI ESG Quality Score - Peer Percentile
as of Jun 21, 2024
50.98
Funds in Peer Group
as of Jun 21, 2024
3,670
MSCI Weighted Average Carbon Intensity % Coverage
as of Jun 21, 2024
99.56
MSCI Implied Temperature Rise % Coverage
as of Jun 21, 2024
99.46

What is the Implied Temperature Rise (ITR) metric? Learn what the metric means, how it is calculated, and about the assumptions and limitations for this forward-looking climate-related metric.

To address climate change, many of the world's major countries have signed the Paris Agreement. The temperature goal of the Paris Agreement is to limit global warming to well below 2°C above pre-industrial levels, and ideally 1.5 °C, which will help us avoid the most severe impacts of climate change.


What is the ITR metric?

The ITR metric is used to provide an indication of alignment to the temperature goal of the Paris Agreement for a company or a portfolio. ITR employs open source 1.55° C decarbonization pathways derived from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). These pathways can be regional and sector specific and set a net zero target of 2050, in line with GFANZ (Glasgow Financial Alliance for Net Zero) industry standards. We make use of this feature for all GHG scopes. This enhanced ITR model was implemented by MSCI on February 19, 2024.


How is the ITR metric calculated?

The ITR metric is calculated by looking at the current emissions intensity of companies within the fund's portfolio as well as the potential for those companies to reduce its emissions over time. If emissions in the global economy followed the same trend as the emissions of companies within the fund's portfolio, global temperatures would ultimately rise within this band.


Note, only corporate issuers are covered within the calculation. A summary explanation of MSCI’s methodology and assumptions for its ITR metric can be found here.


Because the ITR metric is calculated in part by considering the potential for a company within the fund’s portfolio to reduce its emissions over time, it is forward-looking and prone to limitations. As a result, BlackRock publishes MSCI’s ITR metric for its funds in temperature range bands. The bands help to underscore the underlying uncertainty in the calculations and the variability of the metric.

Thermometer-style chart of yellow to red temperature bands showing an investment’s position relative to the Paris Agreement temperature goals. Metric data source MSCI

What are the key assumptions and limitations of the ITR metric?

This forward-looking metric is calculated based on a model, which is dependent upon multiple assumptions. Also, there are limitations with the data inputs to the model. Importantly, an ITR metric may vary meaningfully across data providers for a variety of reasons due to methodological choices (e.g., differences in time horizons, the scope(s) of emissions included and portfolio aggregation calculations).

There is not a universally accepted way to calculate an ITR. There is not a universally agreed upon set of inputs for the calculation. At present, availability of input data varies across asset classes and markets. To the extent that data becomes more readily available and more accurate over time, we expect that ITR metric methodologies will evolve and may result in different outputs. Funds may change bands as methodologies evolve. Where data is not available, and / or if data changes, the estimation methods vary, particularly those related to a company’s future emissions.


The ITR metric estimates a fund’s alignment with the Paris Agreement temperature goal based on a credibility assessment of stated decarbonization targets. However, there is no guarantee that these estimates will be reached. The ITR metric is not a real time estimate and may change over time, therefore it is prone to variance and may not always reflect a current estimate.


The ITR metric is not an indication or estimate of a fund’s performance or risk. Investors should not rely on this metric when making an investment decision and instead should refer to a fund’s prospectus and governing documents. This estimate and the associated information is not intended as a recommendation to invest in any fund, nor is it intended to indicate any correlation between a fund’s ITR metric and its future investment performance.

All data is from MSCI ESG Fund Ratings as of Jun 21, 2024, based on holdings as of Feb 29, 2024. 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 Jun 28, 2024
0.64%
MSCI - Nuclear Weapons
as of Jun 28, 2024
0.42%
MSCI - Civilian Firearms
as of Jun 28, 2024
0.00%
MSCI - Tobacco
as of Jun 28, 2024
0.48%
MSCI - UN Global Compact Violators
as of Jun 28, 2024
0.06%
MSCI - Thermal Coal
as of Jun 28, 2024
0.00%
MSCI - Oil Sands
as of Jun 28, 2024
0.32%

Business Involvement Coverage
as of Jun 28, 2024
99.85%
Percentage of Fund not covered
as of Jun 28, 2024
0.15%
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 0.00% and for Oil Sands 2.28%.

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.

Ratings

Ratings

Morningstar Rating

3 stars
Overall Morningstar Rating for iShares North America Index Fund (IE), Inst, as of Jun 30, 2024 rated against 1710 US Large-Cap Blend Equity Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective May 31, 2024)

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Jun 28, 2024
Name Weight (%)
MICROSOFT CORP 6.35
APPLE INC 6.22
NVIDIA CORP 6.22
AMAZON COM INC 3.64
META PLATFORMS INC CLASS A 2.23
Name Weight (%)
ALPHABET INC CLASS A 2.16
ALPHABET INC CLASS C 1.89
ELI LILLY 1.47
BROADCOM INC 1.42
JPMORGAN CHASE & CO 1.17
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jun 28, 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
Inst EUR 55.81 0.56 1.02 Jul 16, 2024 55.81 41.51 IE00B78CT216
D USD 25.28 0.17 0.67 Jul 16, 2024 25.28 18.28 IE00BD575K12
Flex Hedged EUR 18.25 0.12 0.68 Jul 16, 2024 18.25 13.36 IE00BJVKFT58
D EUR 30.49 0.31 1.02 Jul 16, 2024 30.49 22.66 IE00BD575G75
Inst USD 60.38 0.40 0.67 Jul 16, 2024 60.38 44.08 IE00B1W56L25
Class S Dist GBP GBP 13.25 0.12 0.95 Jul 16, 2024 13.27 10.29 IE000CLK5V01
Flex USD 67.97 0.45 0.67 Jul 16, 2024 67.97 49.11 IE0030404903
Inst USD 45.77 0.30 0.67 Jul 16, 2024 45.77 33.11 IE00B1W56K18
Flex USD 46.67 0.31 0.67 Jul 16, 2024 46.67 34.01 IE00B040CX25
Flex GBP 25.95 0.18 0.70 Feb 5, 2024 25.95 20.70 IE00B7D6J849
Flex EUR 54.98 0.56 1.02 Jul 16, 2024 54.98 41.20 IE00B39J2W40
Class D Acc Hedged EUR 13.17 0.09 0.68 Jul 16, 2024 13.17 9.66 IE00BL6KD459
Class S Acc GBP GBP 13.64 0.13 0.95 Jul 16, 2024 13.66 10.51 IE0000L89XL9
Flex EUR 46.91 0.47 1.02 Jul 16, 2024 46.91 34.86 IE00B8J31B35

Portfolio Managers

Portfolio Managers

Kieran Doyle
Kieran Doyle
Group Index Equity PM Core DM EMEA
Group Index Equity PM Core DM EMEA

Literature

Literature