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Trending ETFs

Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$37.57

$343 M

6.23%

$2.34

0.50%

Vitals

YTD Return

5.6%

1 yr return

19.0%

3 Yr Avg Return

0.1%

5 Yr Avg Return

2.1%

Net Assets

$343 M

Holdings in Top 10

23.0%

52 WEEK LOW AND HIGH

$37.6
$33.11
$37.62

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$37.57

$343 M

6.23%

$2.34

0.50%

EMHY - Profile

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.40%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    iShares J.P. Morgan EM High Yield Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Apr 03, 2012
  • Shares Outstanding
    11150000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Mauro

Fund Description

The Fund seeks to track the investment results of the J.P. Morgan USD Emerging Markets High Yield Bond Index (the Underlying Index), which tracks the performance of below investment-grade U.S. dollar-denominated, emerging market fixed and floating-rate debt securities issued by corporate, sovereign, and quasi-sovereign entities. The Underlying Index includes securities that are classified as below investment-grade, also referred to as high yield(as determined by JPMorgan Chase & Co. or its affiliates (the Index Provideror J.P. Morgan)), in the established J.P. Morgan EMBI Global Diversified Core and J.P. Morgan CEMBI Broad Diversified Core indices, and combines them with a market value based weighting. High yield bonds are also known as junk bonds. An instrument is classified as high yield when the middle rating from Moody’s Investors Service, Inc. Moody’s), S&P Global Ratings, and Fitch Ratings, Inc. (Fitch) (each a Credit Rating Agency and collectively, the Credit Rating Agencies) is below investment-grade. When a credit rating
is only available from two Credit Rating Agencies, the lower of the two must be below investment-grade. When only one Credit Rating Agency rates an instrument, that rating is used. All instruments included in the Underlying Index are selected according to rules-based inclusion criteria regarding amount outstanding, issuer type, and maturity, among others. The securities included in the Underlying Index are rebalanced on the last business day of each month.
Bonds are eligible for inclusion in the Underlying Index if (i) the issuer is headquartered in an emerging market country, (ii) the issue is 100% guaranteed by an entity within an emerging market economy, or (iii) 100% of the issuer’s operating assets are located within emerging market economies. Corporate instruments with a current face amount outstanding of $500 million or more and with at least 2.5 years until maturity are considered for inclusion. Corporate entities must be domiciled within Africa, Asia (excluding Japan), Eastern Europe, the Middle East, or Latin America. Sovereign and quasi-sovereign instruments with a current face amount outstanding of $1 billion or more and with at least 2.5 years until maturity are considered for inclusion. Quasi-sovereign entities are defined by the Index Provider as an entity that is 100% guaranteed or 100% government owned. All eligible component securities may remain in the Underlying Index until one year before maturity.
The J.P. Morgan EMBI Global Diversified Core and J.P. Morgan CEMBI Broad Diversified Core indices employ a diversification methodology, as determined by the Index Provider, which limits the weights of those index countries with larger debt stock by only
including a specified portion of such countries’ eligible current face amounts of debt outstanding. The methodology is designed to distribute the weights of issuers in each country within the J.P. Morgan EMBI Global Diversified Core and J.P. Morgan CEMBI Broad Diversified Core indices by limiting the weights of countries with higher debt outstanding and reallocating this excess to issuers in countries with lower debt outstanding.
As of October 31, 2023, the Underlying Index included issuers located in 64 countries. As of October 31, 2023, a significant portion of the Underlying Index is represented by sovereign and quasi-sovereign obligations. The components of the Underlying Index are likely to change over time.
The Fund will invest in privately issued securities, including those that are normally purchased pursuant to Rule 144A or Regulation S promulgated under the Securities Act of 1933, as amended (the 1933 Act).
BFA uses an indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to beat the index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued.
Indexing may eliminate the chance that the Fund will substantially outperform the Underlying Index but also may reduce some of the risks of active management, such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnover low in comparison to actively managed investment companies.
BFA uses a representative sampling indexing strategy to manage the Fund.
Representative sampling is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value and industry weightings), fundamental characteristics (such as return variability, duration (i.e., a security's price sensitivity to a change in interest rates), maturity or credit ratings and yield) and liquidity measures similar to those of an applicable underlying index. The Fund may or may not hold all of the securities in the Underlying Index.
The Fund will invest at least 80% of its assets in the component securities of the Underlying Index, and the Fund will invest at least 90% of its assets in fixed income securities of the types included in the Underlying Index that BFA believes will help the Fund track the Underlying Index. The Fund will invest no more than 10% of its assets in futures, options and swaps contracts that BFA believes will help the Fund track the Underlying Index as well as in fixed income securities other than the types included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Cash and cash equivalent investments associated with a derivative position will be treated as part of that position for the purposes of calculating the percentage of investments included in the Underlying Index. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Fund may lend securities representing up to one-third of the value
of the Fund's total assets (including the value of any collateral received).
The Underlying Index is sponsored by J.P. Morgan, which isindependent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities in the Underlying Index and publishes information regarding the market value of the Underlying Index.
Industry Concentration Policy. The Fund will concentrate its investments i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated. For purposes of this limitation, securities of the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry.
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EMHY - Performance

Return Ranking - Trailing

Period EMHY Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -3.2% 9.1% 5.98%
1 Yr 19.0% -3.2% 24.7% 3.65%
3 Yr 0.1%* -13.8% 4.4% 9.31%
5 Yr 2.1%* -8.6% 6.7% 20.66%
10 Yr 3.0%* -5.8% 5.0% 9.25%

* Annualized

Return Ranking - Calendar

Period EMHY Return Category Return Low Category Return High Rank in Category (%)
2023 3.9% -10.6% 17.8% 68.11%
2022 -18.8% -29.1% -2.4% 56.01%
2021 -7.1% -24.0% 2.7% 52.11%
2020 -2.0% -14.0% 9.7% 83.64%
2019 6.6% -6.4% 13.0% 70.48%

Total Return Ranking - Trailing

Period EMHY Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -3.2% 9.1% 5.98%
1 Yr 19.0% -3.2% 24.7% 3.65%
3 Yr 0.1%* -13.8% 4.4% 9.31%
5 Yr 2.1%* -8.6% 6.7% 20.66%
10 Yr 3.0%* -5.8% 5.0% 9.25%

* Annualized

Total Return Ranking - Calendar

Period EMHY Return Category Return Low Category Return High Rank in Category (%)
2023 11.5% -0.6% 20.0% 60.13%
2022 -13.1% -27.6% -1.7% 47.77%
2021 -1.9% -18.5% 7.4% 29.93%
2020 3.8% -7.8% 18.0% 69.09%
2019 13.0% -3.0% 23.0% 54.98%

EMHY - Holdings

Concentration Analysis

EMHY Category Low Category High EMHY % Rank
Net Assets 343 M 565 K 14.4 B 45.18%
Number of Holdings 647 4 1779 13.95%
Net Assets in Top 10 77.1 M -134 M 1.25 B 42.86%
Weighting of Top 10 22.97% 5.1% 101.4% 36.24%

Top 10 Holdings

  1. BlackRock Cash Funds: Institutional, SL Agency Shares 15.60%
  2. BlackRock Cash Funds: Treasury, SL Agency Shares 1.05%
  3. Argentina Republic Government International Bonds 1.01%
  4. Argentina Republic Government International Bonds 0.98%
  5. Industrial Commercial Bank of China Ltd 0.88%
  6. Petroleos Mexicanos 0.85%
  7. Petroleos Mexicanos 0.81%
  8. Argentina Republic Government International Bonds 0.65%
  9. Turkiye Government International Bonds 0.58%
  10. Petroleos Mexicanos 0.57%

Asset Allocation

Weighting Return Low Return High EMHY % Rank
Bonds
97.44% 0.91% 99.54% 20.93%
Cash
16.65% 0.00% 21.93% 2.66%
Convertible Bonds
0.71% 0.00% 8.47% 26.17%
Stocks
0.00% -0.01% 93.55% 96.68%
Preferred Stocks
0.00% 0.00% 1.28% 95.02%
Other
0.00% -9.56% 88.17% 76.41%

Bond Sector Breakdown

Weighting Return Low Return High EMHY % Rank
Government
56.78% 0.00% 99.79% 56.04%
Corporate
42.18% 0.00% 93.26% 18.46%
Cash & Equivalents
16.65% 0.00% 23.23% 1.33%
Securitized
0.14% 0.00% 2.41% 11.07%
Derivative
0.00% -1.03% 7.35% 66.45%
Municipal
0.00% 0.00% 0.00% 94.97%

Bond Geographic Breakdown

Weighting Return Low Return High EMHY % Rank
US
97.44% -42.31% 99.01% 8.97%
Non US
0.00% 0.00% 132.49% 99.34%

EMHY - Expenses

Operational Fees

EMHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.02% 35.56% 95.33%
Management Fee 0.50% 0.00% 1.10% 17.94%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

EMHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

EMHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

EMHY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 0.00% 218.00% 7.28%

EMHY - Distributions

Dividend Yield Analysis

EMHY Category Low Category High EMHY % Rank
Dividend Yield 6.23% 0.00% 22.22% 21.59%

Dividend Distribution Analysis

EMHY Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Quarterly

Net Income Ratio Analysis

EMHY Category Low Category High EMHY % Rank
Net Income Ratio 5.40% -2.28% 8.00% 7.48%

Capital Gain Distribution Analysis

EMHY Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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EMHY - Fund Manager Analysis

Managers

James Mauro


Start Date

Tenure

Tenure Rank

Apr 03, 2012

10.16

10.2%

Head of San Francisco Fixed Income Core PM at BlackRock, Inc. since 2020; Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2010 to 2014; Vice President of State Street Global Advisors from 2001 to 2010. James Mauro has been employed by BlackRock Fund Advisors and BlackRock Institutional Trust Company, N.A. (“BTC”) as a portfolio manager since 2011. Prior to joining BTC, Mr. Mauro was a Vice President at State Street Global Advisors. His primary responsibilities include management of all government, inflation linked and derivative strategies. Other responsibilities include hedging and managing risk across all asset classes through futures and option overlays. James joined State Street Corporation in 1993. Previously, he worked as a portfolio manager on the passive team where he co-managed several Bond Index portfolios.

Karen Uyehara


Start Date

Tenure

Tenure Rank

Mar 01, 2021

1.25

1.3%

Ms. Uyehara is a Director of BlackRock, which she joined in 2010. Ms. Uyehara is a portfolio manager and member of BlackRock’s Model-Based Fixed Income Portfolio Management Group. Prior to joining BlackRock, Ms. Uyehara was a portfolio manager at Western Asset Management Company from2002 to 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.39 6.11