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Fixed Income

EUNS

iShares € Corp Bond ex-Financials 1-5yr 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

  • Returns

  From
30-Sep-2014
To
30-Sep-2015
From
30-Sep-2015
To
30-Sep-2016
From
30-Sep-2016
To
30-Sep-2017
From
30-Sep-2017
To
30-Sep-2018
From
30-Sep-2018
To
30-Sep-2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund.

as of Sep 30, 2019

-0.38 3.54 0.52 -0.06 1.97
Benchmark (%) Index: Bloomberg Barclays Euro Corporate ex Financials 1-5 Year Bond Index

as of Sep 30, 2019

-0.11 3.77 0.71 0.17 2.16
  2014 2015 2016 2017 2018
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. 3.57 -0.10 2.63 0.75 -0.63
Benchmark (%) Index: Bloomberg Barclays Euro Corporate ex Financials 1-5 Year Bond Index 3.80 0.16 2.89 0.94 -0.39
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.

Growth of Hypothetical 10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Total Distribution
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Key Facts

Key Facts

Net Assets as of Oct 14, 2019 EUR 1,892,070,478
Net Assets of Fund as of Oct 14, 2019 EUR 1,892,080,471
Base Currency EUR
Share Class Currency EUR
Fund Inception Date Sep 25, 2009
Inception Date Sep 25, 2009
Asset Class Fixed Income
Domicile Ireland
Benchmark Index Bloomberg Barclays Euro Corporate ex Financials 1-5 Year Bond Index
ISA Eligibility Yes
SIPP Available Yes
UK Distributor/Reporting Status Yes/Yes
Rebalance Freq Monthly
ISIN IE00B4L5ZY03
Bloomberg Ticker EUNS GY
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 Distributing

Portfolio Characteristics

Portfolio Characteristics

Shares Outstanding 17,064,062
Benchmark Level as of Oct 15, 2019 EUR 203.39
Benchmark Ticker LECXTREU
Fiscal Year End Jun 30, 2020

Holdings

Holdings

as of Oct 14, 2019
Ticker ISIN Name Sector Location Asset Class Shares Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of Oct 14, 2019
Issuer Weight (%)
BMW FINANCE NV 2.32
VOLKSWAGEN INTERNATIONAL FINANCE NV 1.84
AT&T INC 1.55
ORANGE SA 1.45
RCI BANQUE SA 1.39
Issuer Weight (%)
DEUTSCHE TELEKOM INTERNATIONAL FINANCE BV 1.39
BP CAPITAL MARKETS PLC 1.35
VOLKSWAGEN LEASING GMBH 1.28
TELEFONICA EMISIONES SAU 1.27
ENGIE SA 1.24
Issuer Ticker Name Name of the underlying security Asset Class Weight (%) Price Shares Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Location Market Currency Duration

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.

 

Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

12 Month Lending Summary as of Jun 30, 2019

  • Securities Lending Return: 0.02
  • Average on-loan (% of AUM): 5.78
  • Maximum on-loan (% of AUM): 7.29
  • Collateralisation (% of Loan): 106.99
as of Oct 14, 2019
Name Ticker ISIN SEDOL Location Asset Class Weight (%)
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 information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months.

*Annualised Securities Lending Return is calculated using unaudited 12 month net securities lending revenues to the fund divided by the average NAV of the fund over the same period. 62.5% of all securities lending income is paid directly into the fund, with BlackRock receiving 37.5% compensation which covers all operational costs. BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 0/01/2015 to 31/12/2015 can be publicly disclosed from 01/02/2016.

+Maximum on-loan figure may increase or decrease over time.
**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 basis and are subject to change.

Holdings are subject to change

Exposure Breakdowns

Exposure Breakdowns

as of Oct 14, 2019

% of Market Value

Type Fund
as of Oct 14, 2019

% 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 Oct 14, 2019

% of Market Value

Type Fund
as of Oct 14, 2019

% of Market Value

Type Fund
as of Oct 14, 2019

% 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

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC Bloomberg INAV Reuters INAV ISIN WKN Valoren Common Code (EOC) ISIN of INAV
Deutsche Boerse Xetra EUNS EUR Dec 15, 2009 BVG2QJ7 EUNS GY EUNS.DE INAVIX1E IEX5EUR.DE IE00B4L5ZY03 A0RPWP - - -
SIX Swiss Exchange EEX5 EUR Apr 8, 2015 B707957 EEX5 SW EEX5.S - - IE00B4L5ZY03 - 10608592 - -

Price Yield Calculator

Price Yield Calculator

The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's "Weighted Avg YTM For more information on Aggregate Cash Flow Yield, see info here. The Aggregate Cash Flow (“ACF”) Yield is the discount rate that equates the aggregate cash flows of the ETF's individual fund holdings (specifically the cash flows corresponding to the lower of the yield to call or yield to maturity of a given security) to a stated market price. In contrast, the weighted average yield to maturity is a market value weighted average of the yields of the ETF's individual holdings based on the prior day's net asset value. The ACF Yield allows an investor to compare the yield and spread for varying ETF market prices in order to help understand the impact of intraday market movements. The ACF of the ETF is the sum of the individual bond cash flows “to worst” (i.e. either to call or to maturity, whichever results in the lowest yield for the ETF). The ACF Yield does not make any adjustments based on the cost incurred to acquire an ETF or the impact of the ETF’s management fee.

Literature

Literature

 

 

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