Fixed Income

EMGA

iShares J.P. Morgan EM Local Govt Bond UCITS ETF

Overview

Important Information: Capital at Risk. 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. Important Information: Important Information: The value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. ETFs trade on exchanges like stocks and are bought and sold at market prices which may be different to the net asset values of the ETFs. Two main risks related to fixed income investing are interest rate risk and credit risk. Typically, when interest rates rise, there is a corresponding decline in the market value of bonds. Credit risk refers to the possibility that the issuer of the bond will not be able to repay the principal and make interest payments. The fund invests in fixed interest securities issued by companies. There is a risk of default where the issuing company may not pay income or repay capital to the Fund when due. The currency hedging is designed to reduce, but cannot eliminate the impact of currency movements between the Base Currency and the currencies in which some or all of the underlying investments are transacted. Depending on the exchange rates, this may have a positive or negative impact on the performance of the Fund.
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Performance

Performance

Growth of Hypothetical 10,000

Performance chart data not available for display.
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Reinvestments

This fund does not have any distributions data as of now.
  From
31-Dec-2015
To
31-Dec-2016
From
31-Dec-2016
To
31-Dec-2017
From
31-Dec-2017
To
31-Dec-2018
From
31-Dec-2018
To
31-Dec-2019
From
31-Dec-2019
To
31-Dec-2020
Total Return (%)

as of Dec 31, 2020

- - - 11.56 1.71
Benchmark (%)

as of Dec 31, 2020

- - - 12.56 2.67
  1Y 3Y 5Y 10y Incept.
1.71 - - - 3.69
Benchmark (%)

as of Dec 31, 2020

2.67 - - - 4.69
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
1.71 3.54 9.65 9.91 1.71 - - - 9.81
Benchmark (%)

as of Dec 31, 2020

2.67 3.63 9.90 10.49 2.67 - - - 12.58
  2016 2017 2018 2019 2020
Total Return (%) - - - 11.56 1.71
Benchmark (%) - - - 12.56 2.67
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 as of Jan 27, 2021 USD 340,646,471
Net Assets of Fund as of Jan 26, 2021 USD 6,812,760,125
Base Currency USD
Share Class Currency USD
Fund Inception Date Jun 20, 2011
Inception Date May 31, 2018
Asset Class Fixed Income
Total Expense Ratio 0.50%
Ongoing Charge 0.50%
Product Structure Physical
Methodology Sampled
Domicile Ireland
UCITS Compliant Yes
Benchmark Index J.P. Morgan GBI-EM Global Diversified 10% Cap 1% Floor
Distribution Frequency Accumulating
Securities Lending Return as of Sep 30, 2020 0.00%
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status No/Yes
Rebalance Freq Monthly
ISIN IE00BFZPF546
Bloomberg Ticker EMGA LN
Issuing Company iShares III plc
Fund Manager BlackRock Asset Management Ireland Limited
Administrator State Street Fund Services (Ireland) Limited
Custodian State Street Custodial Services (Ireland) Limited
Use of Income Accumulating

Portfolio Characteristics

Portfolio Characteristics

Shares Outstanding 63,100,999
Number of Holdings as of Jan 26, 2021 240
Benchmark Level as of Jan 27, 2021 USD 153.28
Benchmark Ticker GBIE1001
Distribution Yield as of - -
Weighted Avg Coupon as of Jan 26, 2021 5.35%
Fiscal Year End 30 June
Effective Duration as of Jan 26, 2021 5.24 yrs
Weighted Avg Maturity as of Jan 26, 2021 7.27 yrs
Average Yield to Maturity as of Jan 26, 2021 4.23%

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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 Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 7, 2021 BBB
MSCI ESG Quality Score (0-10) as of Jan 7, 2021 4.61
MSCI ESG Quality Score - Peer Percentile as of Jan 7, 2021 67.92
MSCI ESG % Coverage as of Jan 7, 2021 100.00
Fund Lipper Global Classification as of Jan 7, 2021 Bond Emerging Markets Global LC
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
Funds in Peer Group as of Jan 7, 2021 240
All data is from MSCI ESG Fund Ratings as of Jan 7, 2021, based on holdings as of Nov 30, 2020. 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 covered 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.

Holdings

Holdings

as of Jan 26, 2021
Ticker ISIN Name Sector Location Asset Class Shares Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of Jan 26, 2021
Issuer Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 10.18
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 10.00
INDONESIA (REPUBLIC OF) 9.87
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 9.04
SOUTH AFRICA (REPUBLIC OF) 7.94
Issuer Weight (%)
THAILAND KINGDOM OF (GOVERNMENT) 7.57
POLAND (REPUBLIC OF) 6.88
RUSSIAN FEDERATION 6.23
MALAYSIA (GOVERNMENT) 5.96
COLOMBIA (REPUBLIC OF) 4.93
Issuer Ticker Name Asset Class Weight (%) Price Shares Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Location Market Currency Duration
Holdings are subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
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 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
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.

Securities Lending

Securities Lending

Securities lending is an established and well regulated activity in the investment management industry. It involves the transfer of securities (such as shares or bonds) from a Lender (in this case, the iShares fund) to a third-party (the Borrower). The Borrower will give the Lender collateral (the Borrower’s pledge) in the form of shares, bonds or cash, and will also pay the Lender a fee. This fee provides additional income for the fund and thus can help to reduce the total cost of ownership of an ETF.

 

At BlackRock, securities lending is a core investment management function with dedicated trading, research and technology capabilities. The lending programme is designed to deliver superior absolute returns to clients, whilst maintaining a low risk profile. Funds participating in securities lending retain 62.5% of the income, while BlackRock receives 37.5% of the income and covers all the operational costs resulting from securities lending transactions.

  From
30-Sep-2019
To
30-Sep-2020
From
30-Sep-2018
To
30-Sep-2019
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2015
To
30-Sep-2016
Securities Lending Return (%) 0.00 0.02 0.01 0.01 0.01
Average on-loan (% of AUM) 3.94 5.22 4.59 5.14 5.14
Maximum on-loan (% of AUM) 9.85 8.18 7.92 8.35 9.17
Collateralisation (% of Loan) 107.17 107.00 106.86 107.20 107.33
The above table summarises the lending data available for the fund.

The information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months. The figures shown relate to past performance. Past performance is not a reliable indication of current or future results.
BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 01/01/2019 to 31/12/2019 can be publicly disclosed from 01/02/2020.

Maximum on-loan figure may increase or decrease over time.

With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.
as of Jan 26, 2021
Name Ticker ISIN SEDOL Exchange Country Asset Class Weight %
Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

The information in the Collateral Holdings table relates to securities obtained in the collateral basket under the securities lending programme for the fund in question. The information contained in this material is derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, is not necessarily all inclusive and is not guaranteed as to accuracy. Reliance upon information in this material is at the sole discretion of the reader. The primary risk in securities lending is that a borrower will default on their commitment to return lent securities while the value of the liquidated collateral does not exceed the cost of repurchasing the securities and the fund suffers a loss in respect of the short-fall.

The below table shows the Loan/Collateral Combinations and Collateral Levels for our European Lending funds.

Collateral Types
Loan Type Equities Government, Supranational and Agency Bonds Cash (Not for Reinvestment)
Equities 105%-112% 105%-106% 105%-108%
Government Bonds 110%-112% 102.5%-106% 102.5%-105%
Corporate Bonds 110%-112% 104%-106% 103.5%-105%

Collateral parameters depend on the collateral and the loan combination, and the over collateralisation level may range from 102.5% to 112%. In this context, “Over Collateralisation” means that the aggregate market value of collateral taken will exceed the overall on-loan value. Collateral parameters are reviewed on an ongoing bases and are subject to change.
With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC Bloomberg INAV Reuters INAV ISIN WKN Valoren Common Code (EOC) ISIN of INAV
London Stock Exchange EMGA USD Jun 4, 2018 BFZPF54 EMGA LN EMGA.L - - IE00BFZPF546 - - - -
Berne Stock Exchange EMGA CHF Jul 31, 2018 - EMGA BW EMGA.BN - - IE00BFZPF546 A2JK8Z 41636867 - -
Bolsa Mexicana De Valores EMGA MXN Oct 2, 2018 BGTZV04 EMGAN MM EMGAN.MX - - IE00BFZPF546 - - - -

Literature

Literature