Fixed Income

3125 / 83125 / 9125

iShares Short Duration China Policy Bank Bond ETF

IMPORTANT:Investment involves risk, including the loss of principal. Investors should refer to the Prospectus and Key Facts Statement of the iShares Short Duration China Policy Bank Bond ETF (the “ETF”) for details, including the risk factors. If 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 aims to provide investment results that, before fees and expenses, closely correspond to the performance of the FTSE Chinese Policy Bank Bond 6 Months - 3 Years Index (“the Underlying Index”).
• The ETF is subject to general market risk and may fall in value and there is no guarantee of the repayment of principal. There is no assurance that the ETF will achieve its investment objective. The Underlying Index is a new index and the ETF may be riskier than other exchange traded funds tracking more established indices with longer operating history.
• Investments in the PRC may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility. The ETF’s exposure is concentrated in the PRC and in bonds of a few issuers, and may be more volatile than funds adopting a more diversified strategy. 
• Investing in the PRC inter-bank bond market via Bond Connect and/or Foreign Access Regime is subject to regulatory risks and various risks such as volatility risk, liquidity risk, settlement and counterparty risk as well as other risk factors typically applicable to debt securities such as issuer’s credit/ default risk, interest rate risk, downgrading risk, policy bank risk, valuation risk, credit rating risk. The relevant rules and regulations are subject to change which may have potential retrospective effect. If a counterparty defaults in delivering securities, the trade may be cancelled which may adversely affect the value of the ETF.
• The ETF is subject to tracking error risk, which is the risk that its performance may not track that of the Underlying Index exactly.
• The ETF is subject to risks and uncertainties associated with the current PRC tax laws, regulations and practice in respect investments in the PRC via Bond Connect or Foreign Access Regime. Any increased tax liabilities on the ETF may adversely affect its value.
• The ETF’s base currency is in RMB but has units traded in USD or HKD (in addition to RMB). Investors may be subject to additional costs or losses associated with foreign currency fluctuations between the base currency and the USD or 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.
• Termination of the market making arrangement may lead to risk of liquidity in the market for the units being adversely affected if there is no or only one market maker for the units on any counter. The units of the ETF are traded on the SEHK. The trading price of the units is subject to market factors and may trade at a substantial premium or discount to the ETF’s NAV.
• The Manager may at its discretion pay distributions out of capital, or effectively out of capital, of the ETF. Payment of distributions out of capital or effectively 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 such distributions may result in an immediate reduction of the NAV per unit.

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.
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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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  2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Total Return (%) 2.43
Benchmark (%) 2.65
  1y 3y 5y 10y Incept.
2.43 - - - 2.85
Benchmark (%)

as of 31-Dec-2022

2.65 - - - 3.03
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
2.43 0.33 0.25 1.03 2.43 - - - 3.43
Benchmark (%)

as of 31-Dec-2022

2.65 0.34 0.31 1.15 2.65 - - - 3.64
Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. The price of the investments may go up or down and the investor may not get back the amount invested.

Source: BlackRock. Performance data is displayed on a Net Asset Value basis, net of fees. Brokerage or transaction fees will apply.

Key Facts

Key Facts

Net Assets of Fund as of 01-Feb-2023 RMB 216,529,641
Fund Inception 18-Oct-2021
Exchange Hong Kong Stock Exchange
Fund Base Currency CNY
Asset Class Fixed Income
Benchmark Index FTSE Chinese Policy Bank Bond 6 Months - 3 Years Index
Index Ticker CFIICP6C
Shares Outstanding as of 01-Feb-2023 4,305,000
Distribution Frequency Semi-Annually
Domicile Hong Kong
Management Fee 0.20%
Bloomberg Ticker 3125 HK
ISIN HK0000786753
Derivative Fund No
SFC-authorised ESG fund No
For premium / discount information, please refer to the pricing & exchange table below.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of 01-Feb-2023 27
Benchmark Level as of 01-Feb-2023 RMB 145.65
12M Trailing Distribution as of 30-Jan-2023 2.82%
Standard Deviation (3y) as of - -
3y Beta as of - -
Weighted Avg YTM as of 01-Feb-2023 2.53
Yield to Worst as of 01-Feb-2023 2.53
Weighted Avg Coupon as of 01-Feb-2023 3.63
Weighted Avg Maturity as of 01-Feb-2023 1.68
Effective Duration as of 01-Feb-2023 1.61

Sustainability Characteristics

Sustainability Characteristics

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. MSCI Ratings are currently unavailable for this fund.

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 01-Feb-2023 0.00%
MSCI - UN Global Compact Violators as of 01-Feb-2023 0.00%
MSCI - Nuclear Weapons as of 01-Feb-2023 0.00%
MSCI - Thermal Coal as of 01-Feb-2023 0.00%
MSCI - Civilian Firearms as of 01-Feb-2023 0.00%
MSCI - Oil Sands as of 01-Feb-2023 0.00%
MSCI - Tobacco as of 01-Feb-2023 0.00%

Business Involvement Coverage as of 01-Feb-2023 100.00%
Percentage of Fund not covered as of 01-Feb-2023 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 0.00% 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

as of 01-Feb-2023
Issuer Weight (%)
CHINA DEVELOPMENT BANK 45.62
AGRICULTURAL DEVELOPMENT BANK OF CHINA 31.63
Issuer Weight (%)
EXPORT-IMPORT BANK OF CHINA 22.62
Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares Par Value CUSIP ISIN SEDOL Location Exchange Currency Duration FX Rate Maturity Coupon (%) Market Currency Effective Date
Holdings are subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 01-Feb-2023

% of Weight

Type Fund
as of 01-Feb-2023

% of Weight

Type Fund
as of 01-Feb-2023

% of Weight

Type Fund
Allocations are subject to change.

Participating Dealers

Participating Dealers

Haitong International Securities Group Limited
The Hongkong and Shanghai Banking Corporation Limited
Mirae Asset Securities (HK) Limited
Merrill Lynch Far East 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
3125 XHKG Hong Kong Dollar 21-Oct-2021 -0.16 01-Feb-2023 58.47 0.13 0.22 02-Feb-2023 01-Feb-2023 58.60 0.22 0.38 1.16303 200.00 - 3125 HK 3125NAV 3125IV 3125SHO BM8JM95 HK0000786753 3125.HK 10.00
83125 XHKG RMB 21-Oct-2021 0.32 01-Feb-2023 50.30 0.01 0.01 02-Feb-2023 01-Feb-2023 50.46 0.00 0.00 - 0.00 - 83125 HK 83125NAV 83125IV 83125SHO BM8JMC8 HK0000786779 83125.HK 10.00
9125 XHKG U.S. Dollar 21-Oct-2021 -0.10 01-Feb-2023 7.46 0.01 0.20 02-Feb-2023 01-Feb-2023 7.47 0.02 0.27 0.14833 500.00 - 9125 HK 9125NAV 9125IV 9125SHO BM8JMB7 HK0000786761 9125.HK 10.00

Documents

Documents