Fixed Income

LEMB

iShares J.P. Morgan EM Local Currency Bond ETF

Overview

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Performance

Performance

Growth of Hypothetical 10,000

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Distributions

Ex-Date Total Distribution Income
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Premium/Discount

  1Y 3Y 5Y 10y Incept.
-10.01 -0.47 0.45 0.02 -0.22
Market Price (%) -9.91 -0.40 0.55 -0.30 -0.18
Benchmark (%) -9.72 -0.14 0.99 0.51 0.26
After Tax Pre-Liq. (%) -11.40 -1.56 -0.48 -0.68 -0.94
After Tax Post-Liq. (%) -5.93 -0.80 -0.02 -0.23 -0.41
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-10.01 0.35 -4.23 -6.82 -10.01 -1.42 2.25 0.23 -2.25
Market Price (%) -9.91 0.60 -3.77 -6.61 -9.91 -1.20 2.78 -3.00 -1.83
Benchmark (%) -9.72 0.60 -4.19 -6.75 -9.72 -0.42 5.07 5.20 2.68
After Tax Pre-Liq. (%) -11.40 -1.21 -5.71 -8.27 -11.40 -4.62 -2.36 -6.61 -9.17
After Tax Post-Liq. (%) -5.93 0.20 -2.51 -4.05 -5.93 -2.37 -0.12 -2.24 -4.15
  2017 2018 2019 2020 2021
Total Return (%) 12.32 -7.65 6.70 2.67 -10.01
Market Price (%) 12.39 -7.43 6.42 3.05 -9.91
Benchmark (%) 13.19 -6.78 6.84 3.25 -9.72
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.

 

Effective January 14, 2021, all iShares fixed income ETFs will migrate from using 3pm ET security prices to 4pm ET security prices in the NAV calculation. This change does not affect the investment strategies or liquidity of iShares ETFs, but may result in temporary tracking error as the index is currently using 3pm security prices.

Key Facts

Key Facts

Net Assets as of Jan 21, 2022 USD 535,865,880
Inception Date Oct 18, 2011
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index
Bloomberg Index Ticker GBIE1545
Shares Outstanding as of Jan 21, 2022 13,600,000
Number of Holdings as of Jan 20, 2022 287
Premium/Discount as of Jan 21, 2022 0.33%
CUSIP 464286517
Closing Market Price as of Jan 21, 2022 39.54
Mid-Point Market Price as of Jan 21, 2022 39.53
Premium/Discount as of Jan 21, 2022 0.35
30 Day Avg. Volume as of Jan 21, 2022 190,310.00
30 Day Median Bid/Ask Spread as of Jan 21, 2022 0.03
Volume - 1d as of Jan 21, 2022 101,337.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) as of Dec 31, 2021 0.48
Standard Deviation (3y) as of Dec 31, 2021 11.50%
12m Trailing Yield as of Jan 20, 2022 3.88%
30 Day SEC Yield as of Jan 20, 2022 5.75%
Unsubsidized 30-Day SEC Yield as of Jan 20, 2022 5.75%
Weighted Avg Coupon as of Jan 20, 2022 5.40%
Effective Duration as of Jan 20, 2022 5.06 yrs
Weighted Avg Maturity as of Jan 20, 2022 6.96 yrs
Convexity as of Jan 20, 2022 0.45
Average Yield to Maturity as of Jan 20, 2022 6.23%

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 Jan 7, 2022 BBB
MSCI ESG % Coverage as of Jan 7, 2022 98.65
MSCI ESG Quality Score (0-10) as of Jan 7, 2022 4.44
MSCI ESG Quality Score - Peer Percentile as of Jan 7, 2022 54.55
Fund Lipper Global Classification as of Jan 7, 2022 Bond Emerging Markets Global LC
Funds in Peer Group as of Jan 7, 2022 242
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 7, 2022 0.00
All data is from MSCI ESG Fund Ratings as of Jan 7, 2022, based on holdings as of Nov 30, 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 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. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

Fees

Fees

as of current prospectus
Management Fee 0.30
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.30

Holdings

Holdings

as of Jan 20, 2022
Issuer Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 14.52
SOUTH AFRICA (REPUBLIC OF) 4.80
PERU (REPUBLIC OF) 4.61
TURKEY (REPUBLIC OF) 4.61
CHILE (REPUBLIC OF) 4.53
Issuer Weight (%)
POLAND (REPUBLIC OF) 4.49
CZECH REPUBLIC 4.49
HUNGARY (REPUBLIC OF) 4.48
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 4.48
URUGUAY (ORIENTAL REPUBLIC OF) 4.48
as of Jan 20, 2022
ISIN Name Sector Location CUSIP Asset Class SEDOL Market Value Weight (%) Price Maturity Coupon (%) Currency Market Currency FX Rate Duration Notional Value YTM (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Par Value
Name Asset Class Weight (%) Price Market Value Notional Value Sector SEDOL ISIN Coupon (%) Maturity Location Currency Market Currency YTM (%) Yield to Call (%) Yield to Worst (%) Duration Mod. Duration FX Rate Par Value
Holdings are subject to change

The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

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 Jan 20, 2022

% 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 Jan 20, 2022

% of Market Value

Type Fund
as of Jan 20, 2022

% 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 Jan 20, 2022

% of Market Value

Type Fund
as of Jan 20, 2022

% 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.

Jan 21, 2022
Price 39.54
6.20
Modified Duration 5.08

Spread of ACF Yield (6.20) over 7.00 yr Treasury Yield (1.77) Jan 21, 2022 is 442.88

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