Equity

ENOR

iShares MSCI Norway ETF

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.
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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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  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

-34.70 80.11 12.44 -20.49 6.39
Benchmark (%)

as of Mar 31, 2024

-34.50 81.06 14.29 -21.29 6.50
  1Y 3Y 5Y 10y Incept.
6.39 -1.65 2.27 0.20 2.34
Benchmark (%) 6.50 -1.42 2.59 0.49 2.64
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-3.62 2.94 -3.62 2.20 6.39 -4.88 11.88 1.97 32.49
Benchmark (%) -4.01 2.44 -4.01 1.14 6.50 -4.20 13.62 5.03 37.46
  2019 2020 2021 2022 2023
Total Return (%) 12.75 3.49 17.95 -12.58 4.55
Benchmark (%) 13.26 3.85 18.77 -12.89 5.52
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 of Fund
as of May 28, 2024
USD 30,003,021
Exchange
Cboe BZX formerly known as BATS
Asset Class
Equity
Bloomberg Index Ticker
M1NO5IM
Distribution Frequency
Semi-Annual
Domicile
United States
Closing Price US
26.07
Volume - 1d US
as of May 28, 2024
8,214.00
Fund Inception Date
Jan 23, 2012
Base Currency
USD
Benchmark Index
MSCI Norway IMI 25/50 Index
ISIN
US46429B4995
Use of Income
Distributing
CUSIP
46429B499
30 Day Avg. Volume US
3,016.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of May 28, 2024
69
12m Trailing Yield
as of Apr 30, 2024
5.26%
P/E Ratio
as of May 28, 2024
10.96
Equity Beta (3y)
as of Apr 30, 2024
0.92
Standard Deviation (3y)
as of Apr 30, 2024
22.19%
P/B Ratio
as of May 28, 2024
1.74

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.

This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the 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 May 19, 2024
AA
MSCI ESG Quality Score (0-10)
as of May 19, 2024
7.96
Fund Lipper Global Classification
as of May 19, 2024
Equity Norway
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of May 19, 2024
230.08
MSCI Implied Temperature Rise (0-3.0+ °C)
as of May 19, 2024
> 2.5° - 3.0° C
MSCI ESG % Coverage
as of May 19, 2024
99.66
MSCI ESG Quality Score - Peer Percentile
as of May 19, 2024
60.00
Funds in Peer Group
as of May 19, 2024
55
MSCI Weighted Average Carbon Intensity % Coverage
as of May 19, 2024
98.32
MSCI Implied Temperature Rise % Coverage
as of May 19, 2024
97.48

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 May 19, 2024, based on holdings as of Apr 30, 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. 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 May 28, 2024
0.00%
MSCI - Nuclear Weapons
as of May 28, 2024
0.00%
MSCI - Civilian Firearms
as of May 28, 2024
0.00%
MSCI - Tobacco
as of May 28, 2024
0.00%
MSCI - UN Global Compact Violators
as of May 28, 2024
0.00%
MSCI - Thermal Coal
as of May 28, 2024
0.00%
MSCI - Oil Sands
as of May 28, 2024
0.00%

Business Involvement Coverage
as of May 28, 2024
99.97%
Percentage of Fund not covered
as of May 28, 2024
0.03%
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 0.00%.

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.

Fees

Fees

as of current prospectus
Management Fee 0.53
Acquired Fund Fees and Expenses 0.00
Foreign Taxes and Other Expenses 0.00
Expense Ratio 0.53

Holdings

Holdings

Issuer Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Accrual Date
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”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. 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 May 28, 2024

% of Market Value

Type Fund
Allocations are subject to change.

Listings

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker
Cboe BZX formerly known as BATS ENOR USD Jan 24, 2012 - -
Bolsa Mexicana De Valores ENOR MXN Jan 24, 2012 B9M1LH7 ENOR* MM

Literature

Literature