Fixed Income

SUSEMX

iShares € Corp Bond 0-3yr 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.
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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
30-Jun-2017
To
30-Jun-2018
From
30-Jun-2018
To
30-Jun-2019
From
30-Jun-2019
To
30-Jun-2020
From
30-Jun-2020
To
30-Jun-2021
From
30-Jun-2021
To
30-Jun-2022
Total Return (%) (SUSEMX)

as of Jun 30, 2022

- - - - 3.64
Total Return (%) Underlying Fund (SUSE)

as of Jun 30, 2022

-0.09 0.47 -0.62 1.05 -3.33
Benchmark (%) Underlying Fund (SUSE)

as of Jun 30, 2022

0.20 0.74 -0.46 1.26 -3.17
  1Y 3Y 5Y 10y Incept.
4.17 - - - 4.46
-3.40 -1.08 -0.57 - -0.30
Benchmark (%) Underlying Fund (SUSE)

as of Aug 31, 2022

-3.21 -0.89 -0.35 - -0.07
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
2.12 -0.44 1.08 1.88 4.17 - - - 6.27
-3.09 -1.24 -1.17 -2.33 -3.40 -3.21 -2.80 - -1.98
Benchmark (%) Underlying Fund (SUSE)

as of Aug 31, 2022

-2.97 -1.20 -1.11 -2.25 -3.21 -2.65 -1.72 - -0.44
  2017 2018 2019 2020 2021
Total Return (%) (SUSEMX) - - - - -
Total Return (%) Underlying Fund (SUSE) 0.05 -0.53 0.76 0.42 -0.24
Benchmark (%) Underlying Fund (SUSE) 0.35 -0.23 0.95 0.62 -0.04
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 Sep 27, 2022 MXN 5,550,116
Net Assets of Fund as of Sep 27, 2022 EUR 2,936,359,828
Base Currency EUR
Share Class Currency MXN
Fund Inception Date Jan 7, 2016
Inception Date Apr 9, 2021
Asset Class Fixed Income
Total Expense Ratio 0.14%
Ongoing Charge 0.14%
Product Structure Physical
Methodology Sampled
Domicile Ireland
UCITS Compliant Yes
Benchmark Index Bloomberg MSCI Euro Corporate 0-3 Sustainable SRI Index
SFDR Classification Article 8
Distribution Frequency Accumulating
Securities Lending Return -
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status No/Seeking
Rebalance Freq Monthly
ISIN IE00BMV3LT73
Bloomberg Ticker SUSEMX IX
Issuing Company iShares II 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 1,050
Number of Holdings as of Sep 27, 2022 1035
Benchmark Level as of Sep 28, 2022 EUR 131.67
Benchmark Ticker BSCW
Distribution Yield as of - -
Weighted Avg Coupon as of Sep 27, 2022 1.40%
Fiscal Year End 31 October
Effective Duration as of Sep 27, 2022 1.46 yrs
Weighted Avg Maturity as of Sep 27, 2022 1.64 yrs
Average Yield to Maturity as of Sep 27, 2022 3.29%

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 Sep 21, 2022 AAA
MSCI ESG % Coverage as of Sep 21, 2022 99.24
MSCI ESG Quality Score (0-10) as of Sep 21, 2022 10.00
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2022 100.00
Fund Lipper Global Classification as of Sep 21, 2022 Bond EUR Corporates Short Term
Funds in Peer Group as of Sep 21, 2022 38
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2022 81.38
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2022 98.61
MSCI Implied Temperature Rise (0-3.0+ °C) as of Sep 21, 2022 > 2.0° - 2.5° C
MSCI Implied Temperature Rise % Coverage as of Sep 21, 2022 86.99

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.

Climate change is one of the greatest challenges in human history and will have profound implications for investors. 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. Scientific consensus suggests that reducing emissions until they reach net zero around mid-century (2050-2070) is how this goal could be met. A net zero emissions economy is one that balances emissions and removals.


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. 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. 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 Sep 21, 2022, 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 Sep 27, 2022 0.00%
MSCI - UN Global Compact Violators as of Sep 27, 2022 0.00%
MSCI - Nuclear Weapons as of Sep 27, 2022 0.00%
MSCI - Thermal Coal as of Sep 27, 2022 0.00%
MSCI - Civilian Firearms as of Sep 27, 2022 0.00%
MSCI - Oil Sands as of Sep 27, 2022 0.00%
MSCI - Tobacco as of Sep 27, 2022 0.00%

Business Involvement Coverage as of Sep 27, 2022 98.09%
Percentage of Fund not covered as of Sep 27, 2022 1.91%
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.

Holdings

Holdings

as of Sep 27, 2022
Ticker ISIN Name Sector Location Asset Class Shares Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of Sep 27, 2022
Issuer Weight (%)
BNP PARIBAS SA 2.06
BANQUE FEDERATIVE DU CREDIT MUTUEL SA 2.00
BPCE SA 1.79
CAIXABANK SA 1.72
BMW FINANCE NV 1.71
Issuer Weight (%)
GOLDMAN SACHS GROUP INC/THE 1.57
SOCIETE GENERALE SA 1.28
MERCEDES-BENZ INTERNATIONAL FINANCE BV 1.23
ING GROEP NV 1.21
INTESA SANPAOLO SPA 1.19
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 Sep 27, 2022

% of Market Value

Type Fund Benchmark Net
as of Sep 27, 2022

% 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 Sep 27, 2022

% of Market Value

Type Fund Benchmark Net
as of Sep 27, 2022

% of Market Value

Type Fund Benchmark Net
as of Sep 27, 2022

% 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.

Sorry, no Lending Summary data available.
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 Sep 27, 2022
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%

We also accept selected physically replicating Equity, Government Bond, Credit and Commodity ETFs as collateral.

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

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC Bloomberg INAV Reuters INAV ISIN WKN Valoren Common Code (EOC) ISIN of INAV
Cboe Europe SUSEMX MXN Apr 13, 2021 BMV3LT7 SUSEMX IX SUSEMx.CHI - - IE00BMV3LT73 A2QQ9X 110462992 - -
Bolsa Mexicana De Valores SUSEMX MXN Jul 16, 2021 BP2CXR6 MX - - - - IE00BMV3LT73 - - - -

Literature

Literature