Fixed Income

iShares World ex-Euro Government Bond Index Fund (IE)

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 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. The fund invests a large portion of assets which are denominated in other currencies; hence changes in the relevant exchange rate will affect the value of the investment. The fund invests in fixed interest securities issued by companies which, compared to bonds issued or guaranteed by governments, are exposed to greater risk of default in the repayment of the capital provided to the company or interest payments due to the fund. The fund investments may be subject to liquidity constraints, which means that shares may trade less frequently and in small volumes, for instance smaller companies. As a result, changes in the value of investments may be more unpredictable. In certain cases, it may not be possible to sell the security at the last market price quoted or at a value considered to be fairest. The fund invests in fixed interest securities such as corporate or government bonds which pay a fixed or variable rate of interest (also known as the ‘coupon’) and behave similarly to a loan. These securities are therefore exposed to changes in interest rates which will affect the value of any securities held. The fund(s) may invest in structured credit products such as asset backed securities (‘ABS’) which pool together mortgages and other debts into single or multiple series credit products which are then passed on to investors, normally in return for interest payments based on the cash flows from the underlying assets. These securities have similar characteristics to corporate bonds but carry greater risk as the details of the underlying loans is unknown, although loans with similar terms are typically packaged together. The stability of returns from ABS are not only dependent on changes in interest-rates but also changes in the repayments of the underlying loans as a result of changes in economic conditions or the circumstances of the holder of the loan. These securities can therefore be more sensitive to economic events, may be subject to severe price movements and can be more difficult and/or more expensive to sell in difficult markets.

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

Chart

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This chart shows the fund's performance as the percentage loss or gain per year over the last 10 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) -0.5 -1.0 2.2 4.5 0.7 6.4 7.5 -5.3 -15.7 2.9
Benchmark (%) -0.4 -1.0 2.3 4.5 0.7 6.4 7.6 -5.2 -15.8 2.9

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

  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
Total Return (%)

as of 31-Mar-2024

8.21 -2.14 -5.99 -7.44 -2.52
Benchmark (%)

as of 31-Mar-2024

8.01 -1.89 -5.89 -7.55 -2.46
  1y 3y 5y 10y Incept.
-4.94 -6.50 -2.52 -0.82 2.03
Benchmark (%) -5.02 -6.51 -2.51 -0.81 2.06
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-4.84 -2.62 -3.74 3.18 -4.94 -18.26 -12.00 -7.92 57.19
Benchmark (%) -4.87 -2.67 -3.58 3.10 -5.02 -18.29 -11.94 -7.84 58.21

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 USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. 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 24-May-2024
USD 61’730’930
Share Class launch date
05-Nov-2001
Share Class Currency
USD
Asset Class
Fixed Income
SFDR Classification
Other
Ongoing Charges Figures
0.03%
Annual Management Fee
0.00%
Minimum Initial Investment
USD 500’000.00
Use of Income
Accumulating
Regulatory Structure
UCITS
Morningstar Category
Global Bond
Dealing Frequency
Daily, forward pricing basis
SEDOL
0503338
Net Assets of Fund
as of 24-May-2024
USD 963’521’833.42
Fund Launch Date
02-Nov-2018
Base Currency
USD
Benchmark Index
FTSE World Government Bond Index (ex-EMU Government Bonds) (USD)
Initial Charge
0.00%
ISIN
IE0005033380
Performance Fee
0.00%
Minimum Subsequent Investment
USD 1.00
Domicile
Ireland
Management Company
BlackRock Asset Management Ireland Limited
Dealing Settlement
Trade Date + 3 days
Bloomberg Ticker
BGIWEEI

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 30-Apr-2024
760
3y Beta
as of 30-Apr-2024
1.01
Modified Duration
as of 30-Apr-2024
6.97
Effective Duration
as of 30-Apr-2024
6.96 yrs
WAL to Worst
as of 30-Apr-2024
8.88 yrs
Standard Deviation (3y)
as of 30-Apr-2024
7.86%
Yield to Maturity
as of 30-Apr-2024
4.05%
Weighted Avg YTM
as of 30-Apr-2024
4.05%
Weighted Avg Maturity
as of 30-Apr-2024
8.88 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 19-May-2024
A
MSCI ESG Quality Score (0-10)
as of 19-May-2024
5.85
Fund Lipper Global Classification
as of 19-May-2024
Bond USD Government
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES)
as of -
-
MSCI ESG % Coverage
as of 19-May-2024
100.00
MSCI ESG Quality Score - Peer Percentile
as of 19-May-2024
13.33
Funds in Peer Group
as of 19-May-2024
165
MSCI Weighted Average Carbon Intensity % Coverage
as of 19-May-2024
0.00
All data is from MSCI ESG Fund Ratings as of 19-May-2024, based on holdings as of 31-Jan-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.

 

Risk Indicator

Risk Indicator

1
2
3
4
5
6
7
Low Risk High Risk
Typically low rewards Typically high rewards

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for iShares World ex-Euro Government Bond Index Fund (IE), Flex, as of 30-Apr-2024 rated against 959 Global Bond Funds.

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective 31-Mar-2024)

Portfolio Managers

Portfolio Managers

Francis Rayner
Francis Rayner
PortSols RATES LON GFI-EU Group
PortSols RATES LON GFI-EU Group

Holdings

Holdings

as of 30-Apr-2024
Name Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.62 09/25/2029 1.32
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.37 01/20/2027 1.07
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.44 10/15/2027 0.96
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.18 08/25/2025 0.91
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.46 02/15/2026 0.82
Name Weight (%)
TREASURY NOTE 4.125 11/15/2032 0.80
CHINA PEOPLES REPUBLIC OF (GOVERNM 2.69 08/15/2032 0.74
TREASURY NOTE 1.5 01/31/2027 0.73
TREASURY NOTE 4.5 11/15/2033 0.65
TREASURY NOTE 1.125 02/15/2031 0.63
Holdings subject to change

Exposure Breakdowns

Exposure Breakdowns

as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
as of 30-Apr-2024

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Allocations are subject to change.

Pricing & Exchange

Pricing & Exchange

Investor Class Currency NAV NAV Amount Change NAV % Change NAV As Of 52wk High 52wk Low ISIN
Flex USD 18.98 0.01 0.05 24-May-2024 19.78 18.18 IE0005033380
Class Flexible Hedged SGD 9.93 0.00 0.02 24-May-2024 10.19 9.58 IE0007DDUVE7
Class Flexible Acc Hedged EUR 8.44 0.00 0.03 24-May-2024 8.65 8.13 IE00BMY53838
Flex USD 7.62 0.00 0.05 24-May-2024 8.04 7.39 IE00BYQQ0X26
Inst EUR 9.31 -0.01 -0.13 24-May-2024 9.69 9.15 IE00BJK0X817
Class D Acc EUR 10.65 -0.01 -0.11 24-May-2024 10.91 10.31 IE00BDZRS805
Inst USD 12.90 0.01 0.05 24-May-2024 13.44 12.36 IE00B1W4R493
Inst Hedged Acc EUR 9.15 0.00 0.03 24-May-2024 9.40 8.85 IE00BGR7K831
Class D USD 9.14 0.00 0.05 24-May-2024 9.53 8.76 IE00BD0NC581
Class Flexible Hedged CHF 10.15 0.00 0.02 24-May-2024 10.52 10.00 IE000XJ730F3
Class Flexible Acc Hedged USD 9.95 0.00 0.03 24-May-2024 10.13 9.48 IE0001JCX718
Class Flex Hedged Dist GBP 8.78 -0.01 -0.06 13-Nov-2023 9.25 8.62 IE00BD5D0B54

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 3 years
Example Investment USD 10’000
Scenario
If you exit after 1 year
If you exit after 3 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
7’990 USD
-20.1%
7’490 USD
-9.2%

Unfavourable

What you might get back after costs
Average return each year
8’080 USD
-19.2%
7’710 USD
-8.3%

Moderate

What you might get back after costs
Average return each year
9’910 USD
-0.9%
10’460 USD
1.5%

Favourable

What you might get back after costs
Average return each year
11’250 USD
12.5%
11’520 USD
4.8%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature