Fixed Income

iShares Emerging Markets Government Bond Index Fund (LU)

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 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

To the extent the Fund undertakes securities lending to reduce costs, the Fund will receive 62.5% of the associated revenue generated and the remaining 37.5% will be received by BlackRock as the securities lending agent. As securities lending revenue sharing does not increase the costs of running the Fund, this has been excluded from the ongoing charges.

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Performance

Performance

Growth of Hypothetical 10,000

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  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 7.91 -6.74 11.72 3.41 -2.68 -19.67
Benchmark (%) 10.26 -4.26 15.04 5.26 -1.80 -17.78
  From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
From
31-Dec-2020
To
31-Dec-2021
From
31-Dec-2021
To
31-Dec-2022
Total Return (%)

as of Dec 31, 2022

-6.74 11.72 3.41 -2.68 -19.67
Benchmark (%)

as of Dec 31, 2022

-4.26 15.04 5.26 -1.80 -17.78
  1Y 3Y 5Y 10y Incept.
-11.65 -6.80 -2.88 - -0.92
Benchmark (%) -8.64 -5.17 -0.73 - 1.12
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
0.34 -2.38 0.48 -0.30 -11.65 -19.04 -13.59 - -6.15
Benchmark (%) 0.89 -2.21 1.22 2.13 -8.64 -14.72 -3.61 - 7.97
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 of Fund as of Mar 21, 2023 USD 3,604,033,024
Share Class Inception Date Apr 13, 2016
Fund Inception Date May 28, 2013
Share Class Currency EUR
Base Currency USD
Asset Class Fixed Income
Benchmark Index JP Morgan EMBI Global Diversified Index (USD)
Index Ticker -
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.04%
Annual Management Fee 0.00%
Performance Fee 0.00%
Minimum Initial Investment EUR 10000000
Minimum Subsequent Investment EUR 5000
Use of Income Accumulating
Domicile Luxembourg
Regulatory Structure UCITS
Management Company BlackRock (Luxembourg) S.A.
Morningstar Category Global Emerging Markets Bond - EUR Biased
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BGEGX2H
ISIN LU1387770735
SEDOL BYZWYX9

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Feb 28, 2023 941
Standard Deviation (3y) as of Feb 28, 2023 12.78%
3y Beta as of Feb 28, 2023 0.924
Yield to Maturity as of Feb 28, 2023 7.40%
Modified Duration as of Feb 28, 2023 6.71 yrs
Yield to Worst as of Feb 28, 2023 7.38%
Effective Duration as of Feb 28, 2023 6.83 yrs
Weighted Avg Maturity as of Feb 28, 2023 11.47 yrs
WAL to Worst as of Feb 28, 2023 11.47 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 Jan 6, 2023 BB
MSCI ESG % Coverage as of Jan 6, 2023 92.65
MSCI ESG Quality Score (0-10) as of Jan 6, 2023 3.13
MSCI ESG Quality Score - Peer Percentile as of Jan 6, 2023 19.37
Fund Lipper Global Classification as of Jan 6, 2023 Bond Emerging Markets Global HC
Funds in Peer Group as of Jan 6, 2023 413
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 6, 2023 1,459.56
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 6, 2023 13.88
All data is from MSCI ESG Fund Ratings as of Jan 6, 2023, based on holdings as of Aug 31, 2022. 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.

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 Feb 28, 2023 0.00%
MSCI - UN Global Compact Violators as of Feb 28, 2023 2.39%
MSCI - Nuclear Weapons as of Feb 28, 2023 0.00%
MSCI - Thermal Coal as of Feb 28, 2023 0.16%
MSCI - Civilian Firearms as of Feb 28, 2023 0.00%
MSCI - Oil Sands as of Feb 28, 2023 0.00%
MSCI - Tobacco as of Feb 28, 2023 0.00%

Business Involvement Coverage as of Feb 28, 2023 12.76%
Percentage of Fund not covered as of Feb 28, 2023 87.97%
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 0.71% and for Oil Sands 1.11%.

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 Emerging Markets Government Bond Index Fund (LU), Class X2 Hedged, as of Feb 28, 2023 rated against 829 Global Emerging Markets Bond - EUR Biased Funds.

Risk Indicator

Risk Indicator

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Low Risk High Risk
Low Yield High Yield

Holdings

Holdings

as of Feb 28, 2023
Name Weight (%)
KUWAIT STATE OF (GOVERNMENT) MTN RegS 3.5 03/20/2027 0.71
URUGUAY (ORIENTAL REPUBLIC OF) 5.1 06/18/2050 0.63
ECUADOR REPUBLIC OF (GOVERNMENT) RegS 2.5 07/31/2035 0.49
QATAR (STATE OF) RegS 5.103 04/23/2048 0.45
QATAR (STATE OF) RegS 4.817 03/14/2049 0.45
Name Weight (%)
KAZAKHSTAN (REPUBLIC OF) MTN RegS 5.125 07/21/2025 0.44
PETRONAS CAPITAL LTD MTN RegS 4.55 04/21/2050 0.42
URUGUAY (ORIENTAL REPUBLIC OF) 4.975 04/20/2055 0.40
ARGENTINA REPUBLIC OF GOVERNMENT 1.5 07/09/2035 0.40
BRAZIL FEDERATIVE REPUBLIC OF (GO 4.25 01/07/2025 0.40
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Feb 28, 2023

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2023

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2023

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2023

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2023

% 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 Distribution Frequency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN TIS
X2 Hgd EUR Accumulating 93.44 0.31 0.33 Mar 21, 2023 105.24 84.52 LU1387770735 -
I2 USD Accumulating 117.21 0.40 0.34 Mar 21, 2023 127.53 104.36 LU1064902957 -
F2 USD Accumulating 98.23 0.33 0.34 Mar 21, 2023 106.91 87.48 LU1640626278 -
X2 EUR Accumulating 112.26 -0.13 -0.12 Mar 21, 2023 121.30 109.59 LU1435395394 -
I2 Hgd GBP Accumulating 97.44 0.32 0.33 Mar 21, 2023 108.16 87.54 LU1400680390 -
A2 USD Accumulating 116.69 0.40 0.34 Mar 21, 2023 127.31 104.02 LU0836513696 -
A2 Hgd EUR Accumulating 90.25 0.30 0.33 Mar 21, 2023 102.11 81.79 LU1373035580 -
D2 USD - 99.57 0.33 0.33 Mar 21, 2023 108.37 88.67 LU1811365029 -
N7 EUR Semi-Annual 91.41 -0.11 -0.12 Mar 21, 2023 101.63 89.31 LU0916237901 -
I2 Hgd EUR Accumulating 92.08 0.29 0.32 Mar 21, 2023 103.92 83.36 LU1373035663 -
Class I7 USD Semi-Annual 82.41 0.28 0.34 Mar 21, 2023 94.42 73.39 LU1333800438 -
X2 Hgd SEK Accumulating 880.69 2.83 0.32 Mar 21, 2023 986.89 795.36 LU1499592894 -
Class X7 USD - 77.10 0.27 0.35 Mar 21, 2023 88.34 68.59 LU2087589268 -
X2 USD Accumulating 122.33 0.42 0.34 Mar 21, 2023 132.85 108.83 LU0826455437 -
D2 EUR - 109.66 -0.13 -0.12 Mar 21, 2023 118.65 107.15 LU1811365292 -

Portfolio Managers

Portfolio Managers

John Hutson
John Hutson
PortSols CREDIT LON GFI - Group
PortSols CREDIT LON GFI - Group

Literature

Literature