Equity

BELT

iShares Long-Term U.S. Equity Active ETF

  • NAV as of Dec 10, 2024 $31.35
  • 1 Day NAV Change as of Dec 10, 2024 -0.03 (-0.09%)
  • Fees as stated in the prospectus Expense Ratio: 0.75%

Overview

Why BELT?

1. High conviction: Concentrated portfolio of primarily U.S. equity securities selected for their long-term growth outlook, including fundamentals, franchise strength, and reinvestment opportunity.

 

2. Established team: Actively managed by BlackRock’s Strategic Equity Team within the Fundamental Equities Portfolio Management Group.

 

3. Target alpha with U.S. equities: This high-active share, long-term investment strategy can be used to target outperformance within a U.S. equity allocation.

INVESTMENT OBJECTIVE

The iShares Long-Term U.S. Equity Active ETF seeks to achieve long-term capital growth.
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Performance

Performance

Growth of Hypothetical $10,000

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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 (%) - - - - -
Market Price (%) - - - - -
Benchmark (%) - - - - -
After Tax Pre-Liq. (%) - - - - -
After Tax Post-Liq. (%) - - - - -
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) - 1.92 0.97 - - - - - -0.26
Market Price (%) - 1.82 0.27 - - - - - -0.30
Benchmark (%) - 2.14 5.89 - - - - - 5.67
After Tax Pre-Liq. (%) - 1.92 0.97 - - - - - -0.26
After Tax Post-Liq. (%) - 1.14 0.57 - - - - - -0.15
Performance data is not currently available
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.

The ETF total return may appear to diverge from the return of its benchmark. This may be due to the use of systematic fair value. Click here for more information

The ETF total return is based on the ETF’s net asset value, which uses systematic fair value to price certain foreign assets as of 4:00 p.m. Eastern time (when foreign markets may be closed). The benchmark return uses local market closing prices which may differ from systematic fair value prices. This difference may result in divergence of ETF total return and benchmark return. For more information, please consult the fund’s prospectus. Institutional Non-Fair Value Impact Report

Key Facts

Key Facts

Net Assets of Fund
as of Dec 10, 2024
$10,815,816
Exchange
NASDAQ
Benchmark Index
S&P 500 Index
Distribution Frequency
Quarterly
CUSIP
09290C814
Non-FV NAV
as of Dec 10, 2024
31.35
30 Day Median Bid/Ask Spread
as of Dec 10, 2024
0.13%
Fund Launch Date
Jun 17, 2024
Asset Class
Equity
Shares Outstanding
as of Dec 10, 2024
345,000
Premium/Discount
as of Dec 10, 2024
0.06%
Closing Price
as of Dec 10, 2024
31.37
30 Day Avg. Volume
as of Dec 10, 2024
463.00
Daily Volume
as of Dec 10, 2024
1,567.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Dec 10, 2024
21
30 Day SEC Yield
as of Oct 31, 2024
-0.28%
Standard Deviation (3y)
as of -
-
Equity Beta (3y)
as of -
-
12m Trailing Yield
as of -
-
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

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. 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. 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 Dec 10, 2024
0.00%
MSCI - Nuclear Weapons
as of Dec 10, 2024
0.00%
MSCI - Civilian Firearms
as of Dec 10, 2024
0.00%
MSCI - Tobacco
as of Dec 10, 2024
0.00%
MSCI - UN Global Compact Violators
as of Dec 10, 2024
0.00%
MSCI - Thermal Coal
as of Dec 10, 2024
0.00%
MSCI - Oil Sands
as of Dec 10, 2024
0.00%
Business Involvement Coverage
as of Dec 10, 2024
99.94%
Percentage of Fund not covered
as of Dec 10, 2024
0.06%
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.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

as of current prospectus
Management Fee 0.75%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.75%

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

Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Accrual 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”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. 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 10, 2024

% of Market Value

Type Fund
Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Alister Hibbert
Alister Hibbert
Head of Fundamental Equities’ Strategic Equity Team, Portfolio Manager, Managing Director

    

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Alister Hibbert, Managing Director, is Head of BlackRock's Strategic Equity Team within the Fundamental Equities division of BlackRock's Portfolio Management Group, and serves on BlackRock’s Global Operating Committee.

 

Mr. Hibbert is founder and co-portfolio manager of the BlackRock Strategic Equity Hedge Fund Strategy. Under his leadership, the Strategy has grown to be BlackRock’s flagship equity hedge fund, winning multiple awards including Eurohedge Fund of the Year. He is also founder and co-portfolio manager of the BlackRock Global Unconstrained Equity Strategy.

 

Prior to establishing the Strategic Equity Team in 2020, Mr. Hibbert was a senior member of BlackRock’s European Equity Team, helping build the dominant market-share-leading franchise in Europe, and personally managing over US$15bn in the European Dynamic Strategy. As portfolio manager of this Strategy, Mr. Hibbert was a platinum winner in the Portfolio Adviser Fund Awards on multiple occasions and won Lipper Europe awards for 10 consecutive years. He was admitted to the FE Alpha Manager Hall of Fame in 2019.

 

Mr. Hibbert joined BlackRock in 2008, having previously served as an investment director with Scottish Widows Investment Partnership from 2005 where he was responsible for continental European portfolios. Prior to this, Mr. Hibbert was a European equity portfolio manager with Oechsle International (2004-2005) and Invesco Perpetual (1996-2004). He began his career with accountants Ernst & Young in 1994.

 

Mr. Hibbert holds a Bachelor of Science degree in Economics from the University of Bristol, UK, where he frequently gives talks to current students interested in careers in financial services. He is the founder and chair of a children’s education foundation, assisting schools in unofficial settlements in Africa, and serves on the Development Committee of Caterham School, UK.

Michael Constantis
Michael Constantis
Managing Director

    

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Michael Constantis, CFA, Managing Director and portfolio manager, is a member of the Strategic Equity Team within the Fundamental Equity business of BlackRock's Portfolio Management Group. He is a founder and co-portfolio manager of the BlackRock Strategic Equity Hedge Fund Strategy. He also manages Global and European equity portfolios adopting an unconstrained investment style.

 

Mr. Constantis' service with the firm dates back to 2005, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Prior to joining MLIM, he was at Deutsche Asset Management, where he was a member of the Global Telecoms team, responsible for recommendations on major European telecom stocks.

 

Mr. Constantis earned a BSc degree in Economics from University College London in 2001.

Literature

Literature

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