Multi Asset

MACU

iShares Conservative Portfolio UCITS ETF ACTIVE

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

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  2019 2020 2021 2022 2023
Total Return (%) 7.44
  1Y 3Y 5Y 10y Incept.
5.99 - - - 0.99
  YTD 1m 3M 6M 1Y 3Y 5Y 10y Incept.
1.78 1.08 0.69 1.78 5.99 - - - 2.25
  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

- - - 2.71 5.99
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 USD, hedged share class benchmark performance is displayed in EUR.

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 12, 2024
USD 294,246
Inception Date
Mar 29, 2022
Share Class Currency
USD
Asset Class
Multi Asset
Shares Outstanding
as of Jul 12, 2024
56,755
ISIN
IE00BLB2GQ94
Securities Lending Return
as of Mar 31, 2024
0.01%
UCITS Compliant
Yes
Fund Manager
BlackRock Asset Management Ireland Limited
Custodian
State Street Custodial Services (Ireland) Limited
Bloomberg Ticker
MACU NA
Net Assets of Fund
as of Jul 12, 2024
EUR 15,996,246
Fund Inception Date
Sep 8, 2020
Base Currency
EUR
SFDR Classification
Article 8
Total Expense Ratio
0.25%
Use of Income
Accumulating
Domicile
Ireland
Issuing Company
iShares III plc
Administrator
State Street Fund Services (Ireland) Limited
Fiscal Year End
Jun 30, 2024

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Jul 11, 2024
22
P/E Ratio
as of Jul 11, 2024
12.04
Standard Deviation (3y)
as of -
-
P/B Ratio
as of Jul 11, 2024
0.62

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
A
MSCI ESG Quality Score (0-10)
as of Jun 21, 2024
6.42
Fund Lipper Global Classification
as of Jun 21, 2024
Mixed Asset EUR Cons - Global
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of Jun 21, 2024
72.98
MSCI ESG % Coverage
as of Jun 21, 2024
99.82
MSCI ESG Quality Score - Peer Percentile
as of Jun 21, 2024
9.58
Funds in Peer Group
as of Jun 21, 2024
616
MSCI Weighted Average Carbon Intensity % Coverage
as of Jun 21, 2024
35.80
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 11, 2024
0.00%
MSCI - Nuclear Weapons
as of Jul 11, 2024
0.00%
MSCI - Civilian Firearms
as of Jul 11, 2024
0.00%
MSCI - Tobacco
as of Jul 11, 2024
0.00%
MSCI - UN Global Compact Violators
as of Jul 11, 2024
0.00%
MSCI - Thermal Coal
as of Jul 11, 2024
0.00%
MSCI - Oil Sands
as of Jul 11, 2024
0.00%

Business Involvement Coverage
as of Jul 11, 2024
38.84%
Percentage of Fund not covered
as of Jul 11, 2024
61.16%
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 0.06% and for Oil Sands 0.03%.

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.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ portfolios. Unless otherwise stated in Fund documentation or included within the Fund's investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in the research, monitoring and reporting phases of the investment process. This may include both BlackRock and third-party research and feeds into the initial investment decision. When making buy, hold and sell decisions, the team may take into consideration potential competitive advantages of allocating to vehicles that provide access to companies with stronger ESG characteristics, within a given industry. The Fund manager conducts regular portfolio risk reviews between the investment team and BlackRock's Risk and Quantitative Analysis group as well as portfolio reviews with Chief Investment Officers. These reviews include discussion, where appropriate, of the portfolio's exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Ratings

Holdings

Holdings

Issuer Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares Par Value ISIN Price Location Exchange Duration YTM (%) Maturity Coupon (%) Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares Par Value ISIN Price Location Exchange Duration YTM (%) Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Holdings are subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Jul 11, 2024

% of Market Value

Type Fund
as of Jul 11, 2024

% of Market Value

Type Fund
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 Jul 11, 2024

% of Market Value

Type Fund
as of Jul 11, 2024

% of Market Value

Type Fund
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
31-Mar-2019
To
31-Mar-2020
From
31-Mar-2020
To
31-Mar-2021
From
31-Mar-2021
To
31-Mar-2022
From
31-Mar-2022
To
31-Mar-2023
From
31-Mar-2023
To
31-Mar-2024
Securities Lending Return (%) 0.00 0.01
Average on-loan (% of AUM) 0.61 3.36
Maximum on-loan (% of AUM) 2.87 9.97
Collateralisation (% of Loan) 112.03 110.71
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 Jun 24, 2024
Ticker Name Asset Class Weight % ISIN SEDOL Exchange Country
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
Euronext Amsterdam MACU USD Mar 31, 2022 BN2R3J9 MACU NA MACU.AS

Portfolio Managers

Portfolio Managers

Rafael Iborra
Rafael Iborra
Claire Gallagher
Claire Gallagher

Literature

Literature