Fixed Income

iShares UK Credit 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 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 (%) -1.50 9.38 8.00 -2.94 -17.59 8.69
Benchmark (%) -1.53 9.27 7.80 -3.09 -17.72 8.60

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

  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
From
31-Dec-2022
To
31-Dec-2023
Total Return (%)

as of Dec 31, 2023

9.38 8.00 -2.94 -17.59 8.69
Benchmark (%)

as of Dec 31, 2023

9.27 7.80 -3.09 -17.72 8.60
  1Y 3Y 5Y 10y Incept.
4.04 -4.55 0.04 - 0.34
Benchmark (%) 3.91 -4.69 -0.10 - 0.22
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
-0.93 -0.93 6.53 6.71 4.04 -13.05 0.19 - 2.30
Benchmark (%) -0.92 -0.92 6.39 6.59 3.91 -13.42 -0.51 - 1.52
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.

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 GBP, hedged share class benchmark performance is displayed in GBP.

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 Feb 20, 2024 GBP 19,994,824
Net Assets of Fund as of Feb 20, 2024 GBP 471,800,330
Share Class Inception Date May 11, 2017
Fund Inception Date Sep 30, 2000
Share Class Currency GBP
Base Currency GBP
Asset Class Fixed Income
Benchmark Index iBoxx Sterling Non-Gilts Index (GBP)
SFDR Classification Other
Initial Charge 0.00%
Ongoing Charge 0.10%
ISIN IE00BD0NC474
Annual Management Fee 0.10%
Performance Fee 0.00%
Minimum Initial Investment GBP 100000
Minimum Subsequent Investment GBP 5000
Use of Income Accumulating
Domicile Ireland
Regulatory Structure UCITS
Management Company BlackRock Asset Management Ireland Limited
Morningstar Category GBP Corporate Bond
Dealing Settlement Trade Date + 3 days
Dealing Frequency Daily, forward pricing basis
Bloomberg Ticker BLUCDGA
SEDOL BD0NC47

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 31, 2024 1245
Standard Deviation (3y) as of Jan 31, 2024 9.15%
3y Beta as of Jan 31, 2024 1.000
Yield to Maturity as of Jan 31, 2024 5.16%
Modified Duration as of Jan 31, 2024 5.65 yrs
Yield to Worst as of Jan 31, 2024 5.11%
Effective Duration as of Jan 31, 2024 5.69 yrs
Weighted Avg Maturity as of Jan 31, 2024 8.19 yrs
WAL to Worst as of Jan 31, 2024 8.19 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 19, 2024 AA
MSCI ESG % Coverage as of Jan 19, 2024 90.88
MSCI ESG Quality Score (0-10) as of Jan 19, 2024 7.54
MSCI ESG Quality Score - Peer Percentile as of Jan 19, 2024 87.67
Fund Lipper Global Classification as of Jan 19, 2024 Bond GBP Corporates
Funds in Peer Group as of Jan 19, 2024 438
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Jan 19, 2024 64.07
MSCI Weighted Average Carbon Intensity % Coverage as of Jan 19, 2024 90.87
All data is from MSCI ESG Fund Ratings as of Jan 19, 2024, based on holdings as of Sep 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.

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 Jan 31, 2024 0.00%
MSCI - UN Global Compact Violators as of Jan 31, 2024 0.25%
MSCI - Nuclear Weapons as of Jan 31, 2024 0.00%
MSCI - Thermal Coal as of Jan 31, 2024 0.25%
MSCI - Civilian Firearms as of Jan 31, 2024 0.00%
MSCI - Oil Sands as of Jan 31, 2024 0.00%
MSCI - Tobacco as of Jan 31, 2024 0.64%

Business Involvement Coverage as of Jan 31, 2024 88.37%
Percentage of Fund not covered as of Jan 31, 2024 11.63%
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 0.25% and for Oil Sands 0.97%.

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 UK Credit Bond Index Fund (IE), Class D, as of Jan 31, 2024 rated against 443 GBP Corporate Bond 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 Dec 31, 2023)

Risk Indicator

Risk Indicator

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

Holdings

Holdings

as of Jan 31, 2024
Name Weight (%)
KFW MTN RegS 1.125 07/04/2025 0.77
KFW BANKENGRUPPE MTN 6 12/07/2028 0.64
KFW MTN RegS 4.125 02/18/2026 0.49
EUROPEAN INVESTMENT BANK 6 12/07/2028 0.43
EUROPEAN INVESTMENT BANK 5.625 06/07/2032 0.40
Name Weight (%)
EUROPEAN INVESTMENT BANK MTN RegS 1.375 03/07/2025 0.37
KFW MTN RegS 3.75 07/30/2027 0.34
EUROPEAN INVESTMENT BANK MTN RegS 1 09/21/2026 0.33
TESCO PROPERTY RegS 0.31
ONTARIO (PROVINCE OF) RegS 0.25 12/15/2026 0.30
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Jan 31, 2024

% of Market Value

Type Fund Benchmark Net
as of Jan 31, 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
D GBP 10.16 0.03 0.32 Feb 20, 2024 10.37 9.30 IE00BD0NC474
D GBP 42.86 0.14 0.32 Feb 20, 2024 44.55 40.37 IE00BGWKS388
Class Flex Dist GBP 161.42 0.52 0.32 Feb 20, 2024 164.61 149.13 IE00BMF59H33
Inst GBP 10.17 0.03 0.32 Feb 20, 2024 10.57 9.58 IE00B2RKYS27
Flex GBP 29.74 0.10 0.32 Feb 20, 2024 30.32 27.19 IE0000405013
Inst GBP 19.14 0.06 0.32 Feb 20, 2024 19.52 17.51 IE00B1W4R618

Portfolio Managers

Portfolio Managers

Divya Manek
Divya Manek
PortSols CREDIT LON GFI - Group
PortSols CREDIT LON GFI - Group

Literature

Literature