Fixed Income

LEMB

iShares J.P. Morgan EM Local Currency Bond ETF

  • NAV as of Dec 05, 2023 $36.27
    52 WK: 34.31 - 37.66
  • 1 Day NAV Change as of Dec 05, 2023 0.02 (0.07%)
  • NAV Total Return as of Dec 04, 2023 YTD: 4.72%
  • Fees as stated in the prospectus Expense Ratio: 0.30%

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

Growth of Hypothetical $10,000

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

Record Date Ex-Date Payable Date
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Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%) 8.83 -4.15 -1.67 -1.83 -1.03
Market Price (%) 8.73 -4.43 -1.74 -1.91 -1.07
Benchmark (%) 10.78 -3.34 -0.98 -1.16 -0.45
After Tax Pre-Liq. (%) 8.54 -4.71 -2.61 -2.44 -1.65
After Tax Post-Liq. (%) 5.31 -3.31 -1.57 -1.56 -0.95
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 0.96 -3.82 -5.22 -2.87 8.83 -11.94 -8.05 -16.86 -11.67
Market Price (%) 0.35 -4.18 -5.92 -3.38 8.73 -12.71 -8.40 -17.50 -12.06
Benchmark (%) 2.92 -3.45 -3.80 -1.33 10.78 -9.68 -4.80 -11.06 -5.24
After Tax Pre-Liq. (%) 0.96 -3.82 -5.22 -2.87 8.54 -13.48 -12.38 -21.88 -18.09
After Tax Post-Liq. (%) 0.57 -2.26 -3.09 -1.70 5.31 -9.61 -7.62 -14.53 -10.81
  2018 2019 2020 2021 2022
Total Return (%) -7.65 6.70 2.67 -10.01 -10.50
Market Price (%) -7.43 6.42 3.05 -9.91 -10.73
Benchmark (%) -6.78 6.84 3.25 -9.72 -10.33
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.

 

Effective January 14, 2021, all iShares fixed income ETFs will migrate from using 3pm ET security prices to 4pm ET security prices in the NAV calculation. This change does not affect the investment strategies or liquidity of iShares ETFs, but may result in temporary tracking error as the index is currently using 3pm security prices.

Key Facts

Key Facts

Net Assets of Fund as of Dec 05, 2023 $471,525,716
Fund Launch Date Oct 18, 2011
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index
Bloomberg Index Ticker GBIE1545
Shares Outstanding as of Dec 05, 2023 13,000,000
Distribution Frequency Annual
Premium/Discount as of Dec 05, 2023 -0.47%
CUSIP 464286517
Closing Price as of Dec 05, 2023 36.10
30 Day Avg. Volume as of Dec 04, 2023 135,363.00
30 Day Median Bid/Ask Spread as of Dec 04, 2023 0.03%
Daily Volume as of Dec 05, 2023 61,560.00

NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 04, 2023 338
Equity Beta (3y) as of Oct 31, 2023 0.30
30 Day SEC Yield as of Dec 04, 2023 7.08%
12m Trailing Yield as of Dec 04, 2023 0.83%
Standard Deviation (3y) as of Oct 31, 2023 9.14%
Average Yield to Maturity as of Dec 04, 2023 8.12%
Weighted Avg Coupon as of Dec 04, 2023 6.36
Weighted Avg Maturity as of Dec 04, 2023 6.84 yrs
Effective Duration as of Dec 04, 2023 4.82 yrs
Convexity as of Dec 04, 2023 0.43
Option Adjusted Spread as of Dec 04, 2023 54.79 bps
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

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. Learn more


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the 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 Oct 25, 2023 BBB
MSCI ESG % Coverage as of Oct 25, 2023 100.00%
MSCI ESG Quality Score (0-10) as of Oct 25, 2023 4.6
MSCI ESG Quality Score - Peer Percentile as of Oct 25, 2023 28.97%
Fund Lipper Global Classification as of Oct 25, 2023 Bond Emerging Markets Global LC
Funds in Peer Group as of Oct 25, 2023 252
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
MSCI Weighted Average Carbon Intensity % Coverage as of Oct 25, 2023 0.00%
All data is from MSCI ESG Fund Ratings as of Oct 25, 2023, based on holdings as of Sep 30, 2023. 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.

Fees

Fees

as of current prospectus
Management Fee 0.30%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.30%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Holdings

Holdings

as of Dec 04, 2023
Issuer Weight (%)
CHINA PEOPLES REPUBLIC OF (GOVERNMENT) 14.92
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 6.14
INDONESIA (REPUBLIC OF) 5.66
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 4.84
MALAYSIA (GOVERNMENT) 4.70
Issuer Weight (%)
TURKEY (REPUBLIC OF) 4.62
CHILE (REPUBLIC OF) 4.54
PERU (REPUBLIC OF) 4.48
COLOMBIA (REPUBLIC OF) 4.45
URUGUAY (ORIENTAL REPUBLIC OF) 4.44
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date
Detailed Holdings and Analytics
Holdings are subject to change.

The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Dec 04, 2023

% of Market Value

Type Fund
as of Dec 04, 2023

% 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, excluding currency holdings. Percentages do not reflect fair valuation. In some instances, percentages may reflect the location where the issuer of the securities carries out much of their business. Bonds are included in U.S. bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer.
as of Dec 04, 2023

% 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 Dec 04, 2023

% of Market Value

Type Fund
as of Dec 04, 2023

% 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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