Fixed Income

ERNE

iShares € Ultrashort Bond 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: 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.

Important Notice:Please note that with effect from 5th March 2015, the iShares Euro Ultrashort Bond UCITS ETF’s TER was temporarily discounted from 0.20% to 0.09%, this temporary discount is now a permanent TER reduction.
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Performance

Performance

  • Returns

  From
31.Dec.2013
To
31.Dec.2014
From
31.Dec.2014
To
31.Dec.2015
From
31.Dec.2015
To
31.Dec.2016
From
31.Dec.2016
To
31.Dec.2017
From
31.Dec.2017
To
31.Dec.2018
Total Return (%) Total return is expressed as the percentage change of an investment over a certain timeframe. It includes the net income earned by the investment in terms of dividends or interest along with any change in the capital value of the investment.

as of 31-Dec-2018

0.55 0.15 0.20 -0.01 -0.52
Benchmark (%) Index: Markit iBoxx EUR Liquid Investment Grade Ultrashort Index

as of 31-Dec-2018

0.68 0.17 0.19 0.01 -0.46

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in EUR, hedged fund 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

Chart

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 21-Feb-2019 EUR 2,731,079,139
Base Currency EUR
Share Class launch date 16-Oct-2013
Asset Class Fixed Income
Domicile Ireland
Benchmark Index Markit iBoxx EUR Liquid Investment Grade Ultrashort Index
Rebalance Frequency Monthly
ISIN IE00BCRY6557
Valor 22592993
Bloomberg Ticker ERNE SW
Issuing Company iShares IV 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 as of 21-Feb-2019 27,310,262
Benchmark Level as of 21-Feb-2019 EUR 100.92
Benchmark Ticker IBXXUSE1
Fiscal Year End 31-May-2017

 

Holdings

Holdings

as of 20-Feb-2019
Ticker ISIN Name Name of Issuer Sector Country Asset Class Nominal Market Value Weight (%) Price Exchange Maturity Coupon (%) Market Currency Duration Notional Value
as of 20-Feb-2019
Issuer Weight (%)
GOLDMAN SACHS GROUP INC/THE 3.19
COOPERATIEVE RABOBANK UA 2.43
DEUTSCHE BANK AG 2.38
CREDIT SUISSE AG (LONDON BRANCH) 2.33
BANQUE FEDERATIVE DU CREDIT MUTUEL SA 2.21
Issuer Weight (%)
MORGAN STANLEY 2.10
ING BANK NV 1.99
WELLS FARGO & COMPANY 1.81
UBS AG (LONDON BRANCH) 1.71
INTESA SANPAOLO SPA 1.71
Issuer Ticker Name Name of the underlying security Asset Class Weight (%) Price Nominal Market Value Notional Value Sector ISIN Coupon (%) Maturity Exchange Country 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 31-Dec-2018~

  • Securities Lending Return*: 0.01
  • Average on-loan (% of AUM): 3.02
  • Maximum on-loan (% of AUM)†: 4.89
  • Collateralisation (% of Loan): 106.54
as of 20-Feb-2019
Name Ticker ISIN SEDOL Country Asset Class Weight (%)

Loan/Collateral Combinations and Collateral Levels**

Collateral Types
Loan TypeEquitiesGovernment, Supranational and Agency BondsCash (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%
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.
Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics.

Exposure Breakdowns

Exposure Breakdowns

as of 20-Feb-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 country where the issuer of the securities carries out much of their business.
as of 20-Feb-2019

% of Market Value

Type Fund
as of 20-Feb-2019

% of Market Value

Type Fund
as of 20-Feb-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 Valor Common Code (EOC) ISIN of INAV
London Stock Exchange ERNE EUR 17-Oct-2013 BCRY655 ERNE LN ERNE.L INAVRNEE X2CWINAV.DE IE00BCRY6557 - 22592993 - -
Euronext Amsterdam ERNE EUR 13-Nov-2013 BFZD2T1 ERNE NA ERNE.AS IERNE ERNEINAV.AS IE00BCRY6557 - - - -
Deutsche Boerse Xetra IS3M EUR 18-Oct-2013 BX0QW46 IS3M GY IS3M.DE - - IE00BCRY6557 A1W375 - - -
London Stock Exchange ERN1 GBP 17-Oct-2013 BCRY666 ERN1 LN ERN1.L INAVRNEG X2CYINAV.DE IE00BCRY6557 - - - -
Borsa Italiana ERNE EUR 09-Jan-2014 BFTWN02 ERNE IM ERNE.MI - - IE00BCRY6557 - - - -
SIX Swiss Exchange ERNE CHF 24-Jan-2014 BG5HD42 ERNE SW ERNE.S - - IE00BCRY6557 - 22592993 - -

Literature

Literature