Fixed Income

iShares World ex-Euro Government 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 invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. 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. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. 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 (%) -0.58 -1.16 2.13 4.36 0.63 6.22 7.40 -5.38 -15.84 2.81
Benchmark (%) -0.42 -1.04 2.26 4.51 0.69 6.40 7.63 -5.22 -15.81 2.94

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

8.07 -2.25 -6.10 -7.55 -2.63
Benchmark (%)

as of Mar 31, 2024

8.01 -1.89 -5.89 -7.55 -2.46
  1Y 3Y 5Y 10y Incept.
-2.63 -5.45 -2.24 -0.59 1.62
Benchmark (%) -2.46 -5.32 -2.10 -0.46 1.76
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-2.31 0.24 -2.31 4.11 -2.63 -15.47 -10.70 -5.74 31.08
Benchmark (%) -2.26 0.27 -2.26 4.20 -2.46 -15.14 -10.07 -4.50 34.04
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 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. 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 Apr 19, 2024 USD 66,475,008
Net Assets of Fund as of Apr 19, 2024 USD 955,353,806
Share Class Inception Date Jun 1, 2007
Fund Inception Date Nov 2, 2018
Share Class Currency USD
Base Currency USD
Asset Class Fixed Income
Benchmark Index FTSE World Government Bond Index (ex-EMU Government Bonds) (USD)
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.15%
ISIN IE00B1W4R493
Annual Management Fee 0.12%
Performance Fee 0.00%
Minimum Initial Investment USD 500000
Minimum Subsequent Investment -
Use of Income Accumulating
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category Global Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGIWEXE
SEDOL B1W4R49

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Mar 28, 2024 764
Standard Deviation (3y) as of Mar 31, 2024 7.81%
3y Beta as of Mar 31, 2024 1.006
Yield to Maturity as of Mar 28, 2024 3.68%
Modified Duration as of Mar 28, 2024 7.14 yrs
Yield to Worst as of Mar 28, 2024 3.68%
Effective Duration as of Mar 28, 2024 7.12 yrs
Weighted Avg Maturity as of Mar 28, 2024 9.02 yrs
WAL to Worst as of Mar 28, 2024 9.02 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 Mar 21, 2024 A
MSCI ESG % Coverage as of Mar 21, 2024 100.00
MSCI ESG Quality Score (0-10) as of Mar 21, 2024 5.87
MSCI ESG Quality Score - Peer Percentile as of Mar 21, 2024 90.00
Fund Lipper Global Classification as of Mar 21, 2024 Bond USD Government
Funds in Peer Group as of Mar 21, 2024 160
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
MSCI Weighted Average Carbon Intensity % Coverage as of Mar 21, 2024 0.00
All data is from MSCI ESG Fund Ratings as of Mar 21, 2024, based on holdings as of Nov 30, 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 World ex-Euro Government Bond Index Fund (IE), Inst, as of Mar 31, 2024 rated against 940 Global Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. Fewer than 10% of US open-end funds hold medalist ratings. (Effective Feb 29, 2024)

Risk Indicator

Risk Indicator

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7
Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Mar 28, 2024
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.62 09/25/2029 1.28
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.44 10/15/2027 0.93
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.18 08/25/2025 0.88
TREASURY NOTE 4.125 11/15/2032 0.80
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.46 02/15/2026 0.80
Name Weight (%)
TREASURY NOTE 1.5 01/31/2027 0.72
TREASURY NOTE 3.875 04/30/2025 0.69
TREASURY NOTE 3.875 08/15/2033 0.67
TREASURY NOTE 4.5 11/15/2033 0.66
TREASURY NOTE 1.125 02/15/2031 0.63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 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 USD 12.82 0.02 0.13 Apr 19, 2024 13.52 12.36 IE00B1W4R493
Class Flexible Hedged CHF 10.13 0.01 0.13 Apr 19, 2024 10.52 10.00 IE000XJ730F3
Class Flex Hedged Dist GBP 8.78 -0.01 -0.06 Nov 13, 2023 9.25 8.62 IE00BD5D0B54
Class D Acc EUR 10.75 0.00 0.02 Apr 19, 2024 10.91 10.31 IE00BDZRS805
Flex USD 18.88 0.03 0.13 Apr 19, 2024 19.88 18.18 IE0005033380
Class Flexible Hedged SGD 9.89 0.01 0.13 Apr 19, 2024 10.20 9.58 IE0007DDUVE7
Class Flexible Acc Hedged USD 9.89 0.01 0.14 Apr 19, 2024 10.13 9.48 IE0001JCX718
Inst Hedged Acc EUR 9.12 0.01 0.14 Apr 19, 2024 9.45 8.85 IE00BGR7K831
Flex USD 7.58 0.01 0.13 Apr 19, 2024 8.16 7.39 IE00BYQQ0X26
Inst EUR 9.41 0.00 0.00 Apr 19, 2024 9.69 9.15 IE00BJK0X817
D USD 9.09 0.01 0.13 Apr 19, 2024 9.58 8.76 IE00BD0NC581
Class Flexible Acc Hedged EUR 8.41 0.01 0.14 Apr 19, 2024 8.68 8.13 IE00BMY53838

Portfolio Managers

Portfolio Managers

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

Literature

Literature