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Trending ETFs

Name

As of 04/15/2024

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

$35.80

$410 M

1.41%

$0.50

1.12%

Vitals

YTD Return

7.5%

1 yr return

14.5%

3 Yr Avg Return

9.2%

5 Yr Avg Return

10.3%

Net Assets

$410 M

Holdings in Top 10

113.1%

52 WEEK LOW AND HIGH

$35.8
$29.33
$36.96

Expenses

OPERATING FEES

Expense Ratio 1.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 04/15/2024

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

$35.80

$410 M

1.41%

$0.50

1.12%

HEZU - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return 9.2%
  • 5 Yr Annualized Total Return 10.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.52%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    iShares Currency Hedged MSCI Eurozone ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Jul 09, 2014
  • Shares Outstanding
    11950000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Greg Savage

Fund Description

The Fund seeks to track the investment results of the MSCI EMU 100% Hedged to USD Index (the Underlying Index), which has been developed by MSCI Inc. (the Index Provider or MSCI) as an equity benchmark for the European Economic and Monetary Union (the EMU) countries with the currency risk inherent in the securities included in the Underlying Index hedged to the U.S. dollar on a monthly basis. As of August 31, 2023, the Underlying Index consists of securities from the following 10 developed market countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, the Netherlands, Portugal
and Spain. The Underlying Index includes large- and mid-capitalization companies and may change over time. As of August 31, 2023, a significant portion of the Underlying Index is represented by securities of companies in the consumer discretionary, financials and industrials industries or sectors. The components of the Underlying Index are likely to change over time.
Currently, the Fund achieves its investment objective by investing a substantial portion of its assets in the Underlying Fund.
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 and the Underlying Fund. Representative sampling is an indexing strategy that involves investing in a representative sample of securities or other instruments comprising an applicable underlying index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry
weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of an applicable underlying index. The Fund and the Underlying Fund may or may not hold all of the securities and other components of the applicable underlying index.
The Fund generally will invest at least 80% of its assets in the component securities (including indirect investments through the Underlying Fund) and other instruments of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of the Underlying Index (i.e., depositary receipts representing securities of the Underlying Index) and may invest up to 20% of its assets in certain futures, options and swap contracts, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates, as well as in securities not included in the Underlying Index, but which BFA believes will help the Fund track the Underlying Index. Components of the Underlying Index may include equity securities and foreign currency forward contracts (both deliverable and non-deliverable) designed to hedge against non-U.S. currency fluctuations against the U.S. dollar. The notional exposure of foreign currency forward contracts (both deliverable and non-deliverable) generally will be a short position that hedges currency risk of the equity portfolio. 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 Underlying Index sells forward the total value of the non-U.S. dollar denominated securities included in the Underlying Index at a one-month forward rate to effectively create a hedge against fluctuations in the relative value of the euro in relation to the U.S. dollar. The hedge is reset on a monthly basis. The Underlying Index is designed to have higher returns than an equivalent unhedged investment when the euro is weakening relative to the U.S. dollar and appreciation in the euro does not exceed the aggregate depreciation of the others. Conversely, the Underlying Index is designed to have lower returns than an equivalent unhedged investment when the euro is rising relative to the U.S. dollar.
In order to track the hedgingcomponent of the Underlying Index, the Fund intends to enter into foreign currency forward contracts designed to offset the Fund’s exposure to the euro. A foreign currency forward contract is a contract between two parties to buy or sell a specified amount of a specific currency in the future at an agreed-upon exchange rate. The Fund's exposure to foreign currency forward contracts is based on the aggregate exposure of the Fund to the euro. While this approach is designed to minimize the impact of currency fluctuations on Fund returns, it does not necessarily eliminate the Fund’s exposure to the euro. The return of the foreign currency forward contracts may not perfectly offset the actual fluctuations in value between the euro and the U.S. dollar.
The Fund may also use non-deliverable forward (NDF) contracts to execute its
hedging transactions. An NDF contract is a contract where there is no physical settlement of two currencies at maturity. Rather, based on the movement of the currencies and the contractually agreed-upon exchange rate, a net cash settlement will be made by one party to the other in U.S. dollars.
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 MSCI, which isindependent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securitiesand currency forwards 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) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
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HEZU - Performance

Return Ranking - Trailing

Period HEZU Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -4.8% 9.2% 11.11%
1 Yr 14.5% -1.0% 16.2% 2.22%
3 Yr 9.2%* -8.2% 10.7% 3.37%
5 Yr 10.3%* 0.8% 12.2% 9.20%
10 Yr N/A* 1.6% 8.9% 73.13%

* Annualized

Return Ranking - Calendar

Period HEZU Return Category Return Low Category Return High Rank in Category (%)
2023 19.9% 2.0% 24.1% 16.67%
2022 -26.2% -45.1% -3.8% 76.40%
2021 20.7% -8.7% 23.4% 13.64%
2020 -1.9% -19.4% 44.5% 86.21%
2019 22.5% 7.4% 44.8% 38.37%

Total Return Ranking - Trailing

Period HEZU Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -4.8% 9.2% 11.11%
1 Yr 14.5% -1.0% 16.2% 2.22%
3 Yr 9.2%* -8.2% 10.7% 3.37%
5 Yr 10.3%* 0.8% 12.2% 9.20%
10 Yr N/A* 1.6% 8.9% N/A

* Annualized

Total Return Ranking - Calendar

Period HEZU Return Category Return Low Category Return High Rank in Category (%)
2023 23.0% 3.7% 27.2% 13.33%
2022 -9.5% -45.1% -0.6% 11.24%
2021 23.5% -1.2% 24.7% 10.23%
2020 0.5% -19.4% 55.6% 78.16%
2019 29.5% 13.5% 46.4% 18.60%

HEZU - Holdings

Concentration Analysis

HEZU Category Low Category High HEZU % Rank
Net Assets 410 M 5.07 M 24.7 B 51.65%
Number of Holdings 18 18 1818 100.00%
Net Assets in Top 10 372 M 1.16 M 4.83 B 14.44%
Weighting of Top 10 113.10% 7.7% 113.1% 1.11%

Top 10 Holdings

  1. iShares MSCI Eurozone ETF 102.68%
  2. BlackRock Cash Funds: Institutional, SL Agency Shares 10.22%
  3. PURCHASED EUR / SOLD USD 0.12%
  4. BlackRock Cash Funds: Treasury, SL Agency Shares 0.05%
  5. PURCHASED EUR / SOLD USD 0.02%
  6. PURCHASED EUR / SOLD USD 0.01%
  7. PURCHASED EUR / SOLD USD 0.00%
  8. PURCHASED USD / SOLD EUR 0.00%
  9. PURCHASED USD / SOLD EUR 0.00%
  10. PURCHASED USD / SOLD EUR 0.00%

Asset Allocation

Weighting Return Low Return High HEZU % Rank
Stocks
102.68% 0.00% 108.46% 2.22%
Cash
10.27% 0.20% 35.91% 4.44%
Preferred Stocks
0.00% 0.00% 3.48% 98.89%
Convertible Bonds
0.00% 0.00% 0.81% 96.67%
Bonds
0.00% 0.00% 82.95% 96.67%
Other
-2.73% -12.19% 8.97% 97.78%

Stock Sector Breakdown

Weighting Return Low Return High HEZU % Rank
Industrials
15.90% 2.47% 34.57% 53.41%
Financial Services
15.09% 0.00% 36.14% 46.59%
Consumer Cyclical
14.42% 0.00% 37.84% 14.77%
Technology
11.86% 0.00% 27.53% 34.09%
Healthcare
9.13% 0.00% 28.53% 68.18%
Consumer Defense
7.81% 0.00% 23.04% 67.05%
Basic Materials
7.15% 0.00% 19.84% 55.68%
Utilities
6.14% 0.00% 15.55% 15.91%
Communication Services
5.69% 0.00% 10.93% 38.64%
Energy
5.31% 0.00% 73.53% 54.55%
Real Estate
1.50% 0.00% 12.81% 50.00%

Stock Geographic Breakdown

Weighting Return Low Return High HEZU % Rank
US
102.68% 0.00% 102.68% 1.11%
Non US
0.00% 0.00% 106.03% 100.00%

HEZU - Expenses

Operational Fees

HEZU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.07% 3.85% 50.00%
Management Fee 0.62% 0.06% 1.19% 38.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.25% N/A

Sales Fees

HEZU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HEZU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

HEZU Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 1.68% 184.00% 28.99%

HEZU - Distributions

Dividend Yield Analysis

HEZU Category Low Category High HEZU % Rank
Dividend Yield 1.41% 0.00% 7.13% 46.15%

Dividend Distribution Analysis

HEZU Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annual Monthly Annual

Net Income Ratio Analysis

HEZU Category Low Category High HEZU % Rank
Net Income Ratio 2.52% -1.72% 4.06% 18.89%

Capital Gain Distribution Analysis

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

Distributions History

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HEZU - Fund Manager Analysis

Managers

Greg Savage


Start Date

Tenure

Tenure Rank

Jul 09, 2014

7.9

7.9%

Greg Savage, Managing Director; has been associated with BlackRock Fund Advisors since 2009. Mr. Savage has been a senior portfolio manager for BFA and BTC since 2009. Prior to his employment with BFA and BTC, Mr. Savage was a senior portfolio manager from 2006 to 2009 for BGFA and BGI and a portfolio manager from 2001 to 2006 for BGFA and BGI.

Jennifer Hsui


Start Date

Tenure

Tenure Rank

Jul 09, 2014

7.9

7.9%

Jennifer Hsui, Managing Director & Portfolio Manager at BlackRock Investment Management LLC has been employed by BlackRock Fund Advisors as a senior portfolio manager since 2007. Prior to that, Ms. Hsui was a portfolio manager from 2006 to 2007 for BGFA. She was a research analyst for RBC Capital Markets from 2003 to 2006.

Orlando Montalvo


Start Date

Tenure

Tenure Rank

Jul 09, 2014

7.9

7.9%

Orlando Montalvo has been employed by BlackRock Fund Advisors and BTC as a senior portfolio manager since 2009. Prior to that, Mr. Montalvo was a senior portfolio manager from 2005 to 2009 for Barclays Global Fund Advisors and Barclays Global Investors, N.A.

Paul Whitehead


Start Date

Tenure

Tenure Rank

Jan 01, 2022

0.41

0.4%

Paul Whitehead is responsible for supporting the day-to-day management of the MML Blend Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. Mr. Whitehead is a Managing Director of BlackRock, Inc., Co-Head of Index Equity, and Co-Head of BlackRock’s ETF and Index Investments business. Mr. Whitehead also oversees the management of BlackRock’s Institutional and iShares funds. Mr. Whitehead was previously the Global Head of Equity Trading and the Global Head of Transition Management within BlackRock’s Global Trading Group. Mr. Whitehead’s service with the firm dates back to 1996, including his years with Barclays Global Investors, which merged with BlackRock in 2009. Prior to his current role, Mr. Whitehead was Head of Americas Equity Trading. Previously, he managed the trading team responsible for all Institutional Index funds, Exchange Traded funds, and Transition Management mandates. Mr. Whitehead represents BlackRock on the board of Luminex, a buy-side owned Alternative Trading System launched in 2015.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 24.59 7.2 0.64