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LEMB

iShares J.P. Morgan EM Local Currency Bond ETF

Fixed Income

LEMB

iShares J.P. Morgan EM Local Currency Bond ETF

Overview

Why LEMB?

1. Exposure to the growing universe of local currency-denominated government bonds issued by emerging market countries

 

2. Provides the ability to diversify away from U.S. dollar-denominated bonds or emerging market stocks

 

3. Use to seek higher yield and customize your emerging markets allocation

INVESTMENT OBJECTIVE

The iShares J.P. Morgan EM Local Currency Bond ETF seeks to track the investment results of an index composed of local currency denominated, emerging market sovereign bonds.

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Performance

Performance

  • Returns

  2014 2015 2016 2017 2018
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -4.04 -11.76 7.01 12.32 -7.65
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). -3.67 -11.87 6.80 12.39 -7.43
Benchmark (%) Index: J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index -3.67 -11.31 7.85 13.19 -6.78
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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The Hypothetical Growth of $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.

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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

Ex-Date Total Distribution Income
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Distributions Schedule
Record Date Ex-Date Payable Date Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end. Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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Key Facts

Key Facts

Net Assets as of Oct 22, 2019 $570,271,253
Inception Date Oct 18, 2011
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index On 06/01/2017 LEMB began to track the J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index. Historical index data prior 06/01/2017 is for the Bloomberg Barclays Emerging Markets Broad Local Currency Bond Index; index data on and after 06/01/2017 is for the J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index. J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index
Bloomberg Index Ticker GBIE1545
Shares Outstanding as of Oct 22, 2019 12,600,000
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives such as futures and currency forwards. as of Oct 22, 2019 217
Premium/Discount The amount the Fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund’s NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund’s NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number. as of Oct 22, 2019 0.29%
CUSIP 464286517
Closing Price as of Oct 22, 2019 45.40
Mid-Point Price The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm eastern time for most funds). as of Oct 22, 2019 45.39
Options Available Yes
20 Day Avg. Volume The average number of shares traded in a security across all U.S. exchanges over the last 20 trading days. as of Oct 22, 2019 172,673.50
Daily Volume The number of shares traded in a security across all U.S. exchanges on the date indicated. as of Oct 22, 2019 151,860.00
NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) Beta is a measure of the tendency of securities to move with the market as a whole. A beta of 1 indicates that the security&#39;s price will move with the market. A beta less than 1 indicates the security tends to be less volatile than the market, while a beta greater than 1 indicates the security is more volatile than the market.<br/><br/>Calculated vs. S&amp;P 500 as of Sep 30, 2019 0.16
Standard Deviation (3y) Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile. as of Sep 30, 2019 10.36%
Distribution Yield The annual yield an investor would receive if the most recent fund distribution and current fund price stayed the same going forward. It’s calculated by annualizing the most recent distribution and dividing by the fund’s net asset value (NAV) from the as-of date. as of Oct 22, 2019 3.29%
12m Trailing Yield The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. as of Oct 22, 2019 3.29%
30 Day SEC Yield A standard calculation of yield introduced by the SEC in order to provide fairer comparison among funds. This yield reflects the interest earned after deducting the fund&#39;s expenses during the most recent 30-day period by the average investor in the fund. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. as of Oct 22, 2019 5.62%
Weighted Avg Coupon The average coupon rate of the underlying bonds in the fund, weighted by each bond&#39;s face value. as of Oct 22, 2019 7.12%
Effective Duration Effective Duration measures the sensitivity of the price of a bond with or without embedded options to changes in interest rates, taking into account the likelihood of the bond being called, put and/or sunk prior to its final maturity date while incorporating after-tax impacts on the bond. The options-based duration model used by BlackRock employs certain assumptions and may differ from other fund complexes. Effective Duration is measured at the individual bond level, aggregated to the portfolio level, and adjusted for leverage, hedging transactions and non-bond holdings, including derivatives. as of Oct 22, 2019 4.97 yrs
Weighted Avg Maturity The average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date. as of Oct 22, 2019 7.06 yrs
Convexity Convexity measures the change in duration for a given change in rates. Positive convexity indicates that duration lengthens when rates fall and contracts when rates rise; negative convexity indicates that duration contracts when rates fall and increases when rates rise. as of Oct 22, 2019 0.44
Average Yield to Maturity The discount rate that equates the present value of a bond’s cash flows with its market price (including accrued interest). The Fund Average Yield to Maturity is the weighted average of the fund’s individual bond holding yields based on Net Asset Value (‘NAV’). The measure does not include fees and expenses. For callable bonds, this yield is the yield-to-worst. as of Oct 22, 2019 6.75%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

ESG metrics help investors evaluate companies based on environmental, social, and governance risks and opportunities — and the companies’ ability to manage them. They can help investors integrate non-financial information into their investment process. Learn more.

MSCI ESG Quality Score The fund&#39;s overall MSCI ESG Quality Score measures the ability of underlying holdings to manage key medium- to long-term risks and opportunities arising from environmental, social, and governance factors. The MSCI ESG Quality Score is calculated as the weighted average of the underlying holding&#39;s ESG Scores. It is provided on a 0-10 scale, with 0 and 10 being the respective lowest and highest possible fund scores. MSCI rates underlying holdings according to their exposure to 37 industry specific ESG risks and their ability to manage those risks relative to peers. These issuer-level ESG ratings correspond to an issuer-level ESG Score. as of Oct 01, 2019 4.8
MSCI ESG Quality Score - Peer Rank The MSCI ESG Quality Score - Peer Rank is a percentile rank (1-100) that measures how the fund&#39;s MSCI ESG Quality Score ranks relative to other funds in the same peer group. as of Oct 01, 2019 68.78%
MSCI ESG % Coverage Percent by weight of a fund&#39;s holdings that have ESG Data. as of Oct 01, 2019 99.88%
Fund Lipper Global Classification The fund peer group as defined by the Lipper Global Classification. as of Oct 01, 2019 Bond Emerging Markets Global LC
MSCI Weighted Average Carbon Intensity
(Tons CO2E/$M SALES) The MSCI Weighted Average Carbon Intensity measures a fund&#39;s exposure to carbon intensive companies. This figure represents the estimated greenhouse gas emissions per $1 million in sales across the fund’s holdings. The figure is a sum of the normalized security weight multiplied by the security Carbon Intensity. This allows for comparisons between funds of different sizes. as of - -
Fund Lipper Global Classification Size The number of funds used to calculate the MSCI ESG Quality Score - Peer Rank. This is based on the Lipper Global Classification and reflects the funds that are in the MSCI ESG Fund Metrics coverage universe. as of Oct 01, 2019 189
All data is from MSCI Fund Metrics as of Oct 01, 2019, based on holdings as of Jul 31, 2019.

For newly launched funds, sustainability characteristics are typically available 6 months after launch.

 

To be included in MSCI ESG Fund Metrics, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

 

Inclusion of Sustainability Characteristics is not indicative of a fund’s investment objective, nor is it an implication that a fund employs an ESG-related portfolio management strategy.

Holdings

Holdings

as of Oct 22, 2019
Issuer Weight (%)
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 9.83
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 8.88
INDONESIA (REPUBLIC OF) 7.15
SOUTH AFRICA (REPUBLIC OF) 4.68
THAILAND KINGDOM OF (GOVERNMENT) 4.62
Issuer Weight (%)
POLAND (REPUBLIC OF) 4.59
RUSSIAN FEDERATION 4.57
HUNGARY (REPUBLIC OF) 4.55
PHILIPPINES (REPUBLIC OF) 4.54
PERU (REPUBLIC OF) 4.51
ISIN Name Sector Location CUSIP Asset Class SEDOL Market Value Weight (%) Price Maturity Coupon (%) Currency Market Currency FX Rate Duration Notional Value YTM (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Par Value
Name Asset Class Weight (%) Price Market Value Notional Value Sector SEDOL ISIN Coupon (%) Maturity Location Currency Market Currency YTM (%) Yield to Call (%) Yield to Worst (%) Duration Mod. Duration FX Rate Par Value
Detailed Holdings and Analytics Detailed portfolio holdings information. Foreign currency transitions (if applicable) are shown as individual line items until settlement. Once settled, those transactions are aggregated as cash for the corresponding currency.
Holdings are subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of Oct 22, 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. Bonds are included in US bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer. 
as of Oct 22, 2019

% of Market Value

Type Fund
as of Oct 22, 2019

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of Oct 22, 2019

% of Market Value

Type Fund
as of Oct 22, 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.

Literature

Literature

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