Equity

3022 / 9022

iShares MSCI Emerging Markets ETF (HK)

IMPORTANT: Investment involves risk, including the loss of principal. Investors should refer to the Prospectus and Key Facts Statement of the iShares MSCI Emerging Markets ETF (HK) (the “ETF”) for details, including the risk factors. If you are in any doubt, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser for independent financial advice. Investors should not base investment decisions on this marketing material alone. Investors should note:
•The ETF is a feeder fund and seeks to achieve its investment objective by investing substantially into iShares MSCI EM UCITS ETF USD (Dist) (the “Master ETF”). The Master ETF is not authorised by the SFC and is not available for direct investment by retail investors in Hong Kong on the SEHK.
•The ETF invests substantially in the Master ETF.  The management company of the Master ETF is an affiliate of the Manager and so potential conflicts of interest may arise.
•There can be no assurance that the Master ETF’s investment objectives and strategies will be successfully achieved or that the liquidity of the Master ETF will always be sufficient to meet realisation requests. In addition, there could be trading suspension of the Master ETF in the secondary market.
•The Manager also has no ability to control the manner in which the management company and investment manager of the Master ETF will make investments in accordance with the Master ETF’s investment objective and strategy (which may change from time to time). Any tracking error of the Master ETF and difference of the underlying constituents will contribute to the tracking error of the ETF.
•The ETF aims to provide investment results that, before fees and expenses, closely correspond to the performance of the MSCI Emerging Markets Index. The exposure of the ETF is concentrated in the emerging markets, which may involve increased risks and special considerations not typically associated with investments in more develop markets. The Master ETF is in particular concentrated in the Chinese markets, and may be more susceptible to any economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory occurrence affecting emerging markets including the Chinese markets.  The ETF may therefore be more susceptible to greater price volatility when compared to a more diverse fund.
•The Master ETF and the ETF may potentially be subject to tracking error risk, which is the risk that their returns may not track exactly those of the underlying index.
•The Master ETF invests in stocks of large to mid-capitalisation companies. Securities of mid-capitalisation companies tend to be more volatile and less liquid than securities of larger capitalisation companies.
•The ETF’s Base Currency is in USD but has units traded in HKD (in addition to USD). Investors may be subject to additional costs or losses associated with foreign currency fluctuations between the Base Currency and the HKD trading currency when trading units in the secondary market.
•If there is a suspension of the inter-counter transfer of units between the counters and/or any limitation on the level of services provided by brokers and CCASS participants, Unitholders will only be able to trade their units in one counter. The market price of units traded in each counter may deviate significantly.
•The trading price of the ETF’s Units on the SEHK is driven by market factors such as the demand and supply of the Units. Therefore, the Units may trade at a substantial premium or discount to the ETF’s NAV.
•The Manager may at its discretion pay dividends out of the capital of the ETF. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of the ETF’s capital may result in an immediate reduction of the NAV per Unit.
•The ETF may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The ETF may suffer losses from its derivatives usage.

Overview

Estimated NAV per unit is indicative and for reference purposes only. It is calculated and disseminated on a delayed basis by Deutsche Borse AG (and displayed on this website by Interactive Data) using the Estimated NAV per unit in the Base Currency multiplied by the WM Reuters 4:00p.m (London time)* FX rate for each trading currency for the previous Dealing Day, as displayed below under “Pricing and Exchange” under the column headed “FX to Base Ccy”. The near real time estimated NAV per unit (i) is updated at 15-second intervals during trading hours of the Stock Exchange of Hong Kong and (ii) does not use a real time exchange rate between the Base Currency and each trading currency.
*Please note 4:00pm (London time) (i) during British Summer Time is equivalent to 11:00pm Hong Kong Time and (ii) otherwise is equivalent to 12:00am Hong Kong Time.
Loading

Performance

Performance

Chart

Performance chart data not available for display.
View full Chart

Distributions

Record Date Ex-Date Payable Date
View full table

  2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Total Return (%) -3.34
Benchmark (%) -2.54
  1y 3y 5y 10y Incept.
-17.15 - - - -1.11
Benchmark (%) -17.43 - - - -1.15
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-19.20 14.32 -1.20 -7.59 -17.15 - - - -2.61
Benchmark (%) -18.95 14.83 -1.78 -8.15 -17.43 - - - -2.70

Past performance is not a guide to future performance. Investors may not get back the full amount invested.

Performance is calculated based on the calendar year end, NAV-to-NAV with dividend reinvested.

These figures show by how much the iShares Fund increased or decreased in value during the calendar year being shown. Performance is calculated in the base currency of the iShares Fund, including ongoing charges and taxes, and excluding your trading costs on SEHK.

Please refer to the Key Facts section for the inception date of the iShares Fund.

Where no past performance is shown there was insufficient data available in that calendar year to provide performance.

Benchmark performance does not reflect any management fees, transaction costs or expenses.

Source: BlackRock, MSCI

Key Facts

Key Facts

Net Assets of Fund as of 08-Dec-2022 USD 13,372,201
Fund Inception 17-Jul-2020
Exchange Hong Kong Stock Exchange
Fund Base Currency USD
Asset Class Equity
Benchmark Index MSCI Emerging Markets Index
Index Ticker NDUEEGF
Shares Outstanding as of 08-Dec-2022 240,000
Distribution Frequency Annually
Domicile Hong Kong
Management Fee 0.18%
Bloomberg Ticker 3022 HK
ISIN HK0000625217
Derivative Fund No
SFC-authorised ESG fund No
For premium / discount information, please refer to the pricing & exchange table below.

For more information regarding the index, please visit here.

For more information regarding the Master ETF, please visit here.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 08-Dec-2022 1
Benchmark Level USD 491.54
12M Trailing Distribution as of 08-Dec-2022 2.51%
Standard Deviation (3y) as of - -
3y Beta as of - -
P/E Ratio as of 08-Dec-2022 11.23
P/B Ratio as of 08-Dec-2022 1.74

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 21-Sep-2022 A
MSCI ESG % Coverage as of 21-Sep-2022 99.90
MSCI ESG Quality Score (0-10) as of 21-Sep-2022 5.75
MSCI ESG Quality Score - Peer Percentile as of 21-Sep-2022 34.95
Fund Lipper Global Classification as of 21-Sep-2022 Equity Emerging Mkts Global
Funds in Peer Group as of 21-Sep-2022 1,299
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of 21-Sep-2022 324.12
MSCI Weighted Average Carbon Intensity % Coverage as of 21-Sep-2022 99.21
MSCI Implied Temperature Rise (0-3.0+ °C) as of 21-Sep-2022 > 3.0° C
MSCI Implied Temperature Rise % Coverage as of 21-Sep-2022 99.02

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 21-Sep-2022, based on holdings as of 31-Jul-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 08-Dec-2022 0.39%
MSCI - UN Global Compact Violators as of 08-Dec-2022 1.89%
MSCI - Nuclear Weapons as of 08-Dec-2022 0.00%
MSCI - Thermal Coal as of 08-Dec-2022 0.83%
MSCI - Civilian Firearms as of 08-Dec-2022 0.00%
MSCI - Oil Sands as of 08-Dec-2022 0.00%
MSCI - Tobacco as of 08-Dec-2022 0.37%

Business Involvement Coverage as of 08-Dec-2022 100.00%
Percentage of Fund not covered as of 08-Dec-2022 0.00%
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 2.83% 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.

Ratings

Holdings

Holdings

Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Market Currency
Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Market Currency
Holdings are subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 08-Dec-2022

% of Weight

Type Fund
Based on Global Industry Classification Standard (GICS)
As a percentage of the NAV of the Master ETF.
as of 08-Dec-2022

% of Weight

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the Master ETF, added together and then expressed as a percentage of the Master ETF’s total holdings. However, in some instances, it can reflect the location where the issuer of the securities carries out much of their business. Due to rounding, the total may not be equal to 100%.
Allocations are subject to change.

Participating Dealers

Participating Dealers

Barclays Bank PLC
BNP PARIBAS Securities Services
Citigroup Global Markets Asia Limited
China Merchants Securities (HK) Co., Limited
Credit Suisse Securities (Hong Kong) Limited
ABN AMRO Clearing Hong Kong Limited
Goldman Sachs (Asia) Securities Limited
Haitong International Securities Group Limited
The Hongkong and Shanghai Banking Corporation Limited
J.P. Morgan Broking (Hong Kong) Limited
Mirae Asset Securities (HK) Limited
Merrill Lynch Far East Limited
UBS Securities Hong Kong Limited

Exchange

Exchange

Ticker Exchange Currency Listing Date Premium Discount Premium Discount As Of NAV NAV $ Change NAV % Change Price As Of NAV As Of Closing Price Closing Price $ Change Closing Price % Change FX to Base Ccy 20d Avg Volume Exchange Volume Bloomberg Ticker Bloomberg IOPV Bloomberg INAV Bloomberg Shares Out. SEDOL ISIN RIC Trading Board Lot
3022 XHKG Hong Kong Dollar 22-Jul-2020 -0.05 08-Dec-2022 433.62 5.30 1.24 09-Dec-2022 08-Dec-2022 440.50 7.10 1.64 7.78250 818.00 4,390.00 3022 HK 3022NAV 3022IV 3022SHO BKWGSZ6 HK0000625217 3022.HK 100.00
9022 XHKG U.S. Dollar 22-Jul-2020 -0.10 08-Dec-2022 55.72 0.71 1.30 09-Dec-2022 08-Dec-2022 56.40 0.74 1.33 - 947.00 - 9022 HK 9022NAV 9022IV 9022SHO BKWGTW0 HK0000625209 9022.HK 100.00
*FX to Base Ccy - WM Reuters 4:00pm (London time). Please note 4:00p.m (London time) (i) during British Summer Time is equivalent to 11:00pm Hong Kong Time and (ii) otherwise is equivalent to 12:00am Hong Kong Time.

Documents

Documents