Fixed Income

UESD

iShares £ Ultrashort Bond ESG UCITS 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. 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.

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

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Distributions

Record Date Ex-Date Payable Date
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  2019 2020 2021 2022 2023
Total Return (%) 0.15 1.18 4.85
Benchmark (%) 0.19 1.22 4.80
  From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
From
30-Jun-2022
To
30-Jun-2023
From
30-Jun-2023
To
30-Jun-2024
Total Return (%)

as of Jun 30, 2024

- 0.47 0.07 3.02 5.80
Benchmark (%)

as of Jun 30, 2024

- 0.54 0.13 3.04 5.77
  1Y 3Y 5Y 10y Incept.
5.80 2.93 - - 2.24
Benchmark (%) 5.77 2.95 - - 2.28
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
2.76 0.41 1.33 2.76 5.80 9.06 - - 9.97
Benchmark (%) 2.79 0.43 1.35 2.79 5.77 9.13 - - 10.14
Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realise returns that are different to the NAV performance

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. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

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 Jul 18, 2024
GBP 191,627,766
Inception Date
Mar 16, 2020
Share Class Currency
GBP
Asset Class
Fixed Income
SFDR Classification
Article 8
Total Expense Ratio
0.09%
Distribution Frequency
Semi-Annual
Domicile
Ireland
Rebalance Freq
Monthly
UCITS Compliant
Yes
Fund Manager
BlackRock Asset Management Ireland Limited
Custodian
State Street Custodial Services (Ireland) Limited
Bloomberg Ticker
UESD LN
Net Assets of Fund
as of Jul 18, 2024
GBP 191,627,766
Fund Inception Date
Mar 16, 2020
Base Currency
GBP
Benchmark Index
iBoxx MSCI ESG GBP Liquid Investment Grade Ultrashort (GBP)
Shares Outstanding
as of Jul 18, 2024
38,055,982
ISIN
IE00BJP26F04
Use of Income
Distributing
Product Structure
Physical
Methodology
Sampled
Issuing Company
iShares IV plc
Administrator
State Street Fund Services (Ireland) Limited
Fiscal Year End
May 31, 2021

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jul 17, 2024
133
Benchmark Ticker
IBXXGES1
Standard Deviation (3y)
as of Jun 30, 2024
0.72%
Average Yield to Maturity
as of Jul 17, 2024
5.35%
Weighted Avg Maturity
as of Jul 17, 2024
1.10 yrs
Benchmark Level
as of Jul 18, 2024
GBP 116.40
12m Trailing Yield
as of Jul 17, 2024
5.22%
3y Beta
as of Jun 30, 2024
1.018
Weighted Avg Coupon
as of Jul 17, 2024
3.93%
Effective Duration
as of Jul 17, 2024
0.25 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 Jun 21, 2024
AA
MSCI ESG Quality Score (0-10)
as of Jun 21, 2024
8.13
Fund Lipper Global Classification
as of Jun 21, 2024
Bond GBP Short Term
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jun 21, 2024
15.39
MSCI ESG % Coverage
as of Jun 21, 2024
99.52
MSCI ESG Quality Score - Peer Percentile
as of Nov 1, 2020
98.66
Funds in Peer Group
as of Jun 21, 2024
26
MSCI Weighted Average Carbon Intensity % Coverage
as of Jun 21, 2024
92.81
All data is from MSCI ESG Fund Ratings as of Jun 21, 2024, based on holdings as of May 31, 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, 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 Jul 16, 2024
0.00%
MSCI - Nuclear Weapons
as of Jul 16, 2024
0.00%
MSCI - Civilian Firearms
as of Jul 16, 2024
0.00%
MSCI - Tobacco
as of Jul 16, 2024
0.00%
MSCI - UN Global Compact Violators
as of Jul 16, 2024
0.00%
MSCI - Thermal Coal
as of Jul 16, 2024
0.00%
MSCI - Oil Sands
as of Jul 16, 2024
0.00%

Business Involvement Coverage
as of Jul 16, 2024
89.59%
Percentage of Fund not covered
as of Jul 16, 2024
10.41%
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.

Ratings

Holdings

Holdings

as of Jul 17, 2024
Issuer Weight (%)
BANK OF MONTREAL 4.10
EUROPEAN INVESTMENT BANK 4.08
BANK OF NOVA SCOTIA 4.03
CANADIAN IMPERIAL BANK OF COMMERCE 4.01
NATIONAL AUSTRALIA BANK LTD 3.93
Issuer Weight (%)
SANTANDER UK PLC 3.87
ROYAL BANK OF CANADA 3.82
KFW 3.57
NORTH-RHINE WESTPHALIA STATE OF 3.24
CPPIB CAPITAL INC 3.23
Issuer Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares Par Value ISIN Price Location Exchange Duration Maturity Coupon (%) Market Currency Effective Date
Holdings are subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jul 17, 2024

% of Market Value

Type Fund
as of Jul 17, 2024

% of Market Value

Type Fund
as of Jul 17, 2024

% 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.

Listings

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC
London Stock Exchange UESD GBP Mar 18, 2020 BJP26F0 UESD LN UESD.L

Literature

Literature