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Name

As of 07/25/2024

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

iShares Emergent Food and AgTech Multisector ETF

IVEG | ETF

$19.29

$4.8 M

2.27%

$0.44

0.47%

Vitals

YTD Return

0.3%

1 yr return

-4.7%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$4.8 M

Holdings in Top 10

44.2%

52 WEEK LOW AND HIGH

$19.1
$17.24
$20.71

Expenses

OPERATING FEES

Expense Ratio 0.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 07/25/2024

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

iShares Emergent Food and AgTech Multisector ETF

IVEG | ETF

$19.29

$4.8 M

2.27%

$0.44

0.47%

IVEG - Profile

Distributions

  • YTD Total Return 0.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    iShares Emergent Food and AgTech Multisector ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Apr 27, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Paul Whitehead

Fund Description

The Fund seeks to track the investment results of the Morningstar® Global Food Innovation Index (the “Underlying Index”), which measures the performance of equity securities issued by U.S. and non-U.S. companies that are expected to benefit from creating or using agricultural technologies or innovative food products or services, as determined by Morningstar or its affiliates (“Morningstar” or the “Index Provider”). Constituents represent sectors such as consumer staples, materials, industrials and health care. Morningstar evaluates companies based on five-year net profit and revenue projections as a producer or supplier with respect to four themes:
• Agriculture Technology: Solutions that enhance yield, improve efficiency or achieve waste reduction. Business activities may include seeds, yield enhancement, automation, precision agriculture, digital agriculture, environmentally friendly agricultural inputs and animal genetics.
• Alternative Proteins: Food, beverages or ingredients offering protein sourced
from non-animal origins. Business activities may include plant-based meat, plant-based dairy, lab-cultured meat, insect-based proteins and mycoproteins.
• Nutritional Innovation and Safety: Technologies that reduce preventable nutrition-related death or disease via innovation or food safety practices. Business activities may include nutrigenomics, brain-body hunger impulse regulation, allergen-free nutrition, food scanners, zoonotic disease mitigation, food safety, diet tracking, and shelf-life extension.
• Sustainable Food Production and Packaging: Sustainable food production practices or sustainable packaging solutions for food and beverages. Business activities may include regenerative agriculture, organic farming, vertical or rooftop farms, land-based aquaculture, biodiverse ocean farming and food waste reduction.
To construct the Underlying Index, the Index Provider begins with stocks from the Morningstar® Global Markets ex-India IndexSM and excludes those with an average three-month trailing daily trading volume of less than $2 million or a free float market capitalization of less than $300 million. To be eligible for inclusion, a company must be classified by the Index Provider as either a producer of goods or services related to a theme or a supplier of such producers. In addition, the issuer must have current revenues from at least one theme and, as determined by Morningstar, must be highly likely to experience at least a 5% increase in net profit in aggregate over the next five years from exposure to at least one theme.
Morningstar research analysts estimate the percentage of total revenue that a
company will derive over the next five years from its exposure to each theme of the Underlying Index. In making these projections, the research analysts may take into account, among other things, financial statements, historical growth rates, competitive and industry analyses, macroeconomic factors, and news and other data sources. Based on the analysts’ revenue projections, each company is assigned an “exposure score” for each theme as follows: • Score of 0: Less than 10% of the issuer’s total revenue • Score of 1: 10-25% of the issuer’s total revenue • Score of 2: Greater than 25-50% of the issuer’s total revenue • Score of 3: Greater than 50% of the total revenue of an issuer that is a supplier • Score of 4: Greater than 50% of the total revenue of an issuer that is a producer A Morningstar committee reviews the assigned scores to help ensure internal consistency.
If a company has an exposure score of zero for each theme, it is excluded from the Underlying Index. The remaining potential constituents are designated as Tier 1 or Tier 2 based on their exposure scores. Tier 1 issuers are those with (i) a score of 3 or 4 in any theme; or (ii) an aggregate score (the sum of all exposure scores) of 5 or more; or (iii) a score of 2 in each of at least two themes. Tier 2 includes all qualifying issuers that are not in Tier 1. Morningstar then ranks issuers with preference given to, among other factors, Tier 1 over Tier 2, higher aggregate exposure score, current constituents and smaller market capitalization.
All Tier 1 constituents are selected for the Underlying Index. However, if there are fewer than 50 Tier 1 constituents, the shortfall is filled with Tier 2 constituents, and the Underlying Index is capped at 50 constituents. Constituents are float market capitalization-weighted with a 4% cap for individual stocks. The Underlying Index is reconstituted and rebalanced each December. The themes are reviewed annually by the Index Provider and are subject to change as they evolve and new themes emerge.
The Index Provider’s methodology does not require that at least one company from each of the themes be included in the Underlying Index, nor does it require the inclusion of a minimum number of Tier 1 constituents. In addition, constituents may operate business lines that generate revenues in industries other than those related to the four themes.
The Underlying Index includes large-, mid- and small-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 basic materials, consumer defensive and industrials industries or sectors. As of August 31, 2023, the Underlying Index consisted of securities from the following countries: Australia, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Norway, the United Kingdom (the “U.K.”) and the U.S.
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 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 may or may not hold all of the securities in the Underlying Index.
The Fund generally will invest at least 80% of its assets in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its 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. 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 Morningstar, which is independent 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) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Read More

IVEG - Performance

Return Ranking - Trailing

Period IVEG Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -24.9% 17.8% N/A
1 Yr -4.7% -68.1% 26.2% N/A
3 Yr N/A* -43.1% 28.8% N/A
5 Yr N/A* -32.3% 26.2% N/A
10 Yr N/A* -2.8% 17.7% N/A

* Annualized

Return Ranking - Calendar

Period IVEG Return Category Return Low Category Return High Rank in Category (%)
2023 -5.1% -72.7% 24.1% N/A
2022 N/A -22.1% 50.4% N/A
2021 N/A -31.4% 49.5% N/A
2020 N/A -23.4% 13.6% N/A
2019 N/A -13.7% 34.6% N/A

Total Return Ranking - Trailing

Period IVEG Return Category Return Low Category Return High Rank in Category (%)
YTD 0.3% -73.0% 17.8% N/A
1 Yr -4.7% -68.1% 26.2% N/A
3 Yr N/A* -43.1% 28.8% N/A
5 Yr N/A* -32.3% 26.2% N/A
10 Yr N/A* -1.5% 17.7% N/A

* Annualized

Total Return Ranking - Calendar

Period IVEG Return Category Return Low Category Return High Rank in Category (%)
2023 -2.8% -72.7% 24.1% N/A
2022 N/A -22.1% 50.4% N/A
2021 N/A -31.4% 49.5% N/A
2020 N/A -23.4% 13.6% N/A
2019 N/A -12.2% 34.6% N/A

IVEG - Holdings

Concentration Analysis

IVEG Category Low Category High IVEG % Rank
Net Assets 4.8 M 610 K 31.2 B 83.05%
Number of Holdings 35 1 389 47.06%
Net Assets in Top 10 2.12 M -21.4 M 5.86 B 79.41%
Weighting of Top 10 44.18% 8.9% 100.0% 62.50%

Top 10 Holdings

  1. Trimble Inc 5.08%
  2. Corteva Inc 4.66%
  3. Ecolab Inc 4.55%
  4. Waters Corp 4.47%
  5. BlackRock Cash Funds: Institutional, SL Agency Shares 4.45%
  6. Packaging Corp of America 4.26%
  7. Westrock Co 4.25%
  8. CNH Industrial NV 4.18%
  9. CF Industries Holdings Inc 4.17%
  10. BASF SE 4.09%

Asset Allocation

Weighting Return Low Return High IVEG % Rank
Stocks 		99.50% 0.00% 100.33% 51.47%
Cash 		4.45% -0.34% 101.46% 47.06%
Other 		0.00% -8.90% 91.95% 67.65%
Preferred Stocks 		0.00% 0.00% 29.02% 63.24%
Convertible Bonds 		0.00% 0.00% 3.05% 66.18%
Bonds 		0.00% 0.00% 88.23% 64.71%

Stock Sector Breakdown

Weighting Return Low Return High IVEG % Rank
Utilities 		0.00% 0.00% 85.14% 77.97%
Technology 		0.00% 0.00% 77.79% 77.97%
Real Estate 		0.00% 0.00% 54.95% 76.27%
Industrials 		0.00% 0.00% 90.47% 45.76%
Healthcare 		0.00% 0.00% 100.00% 30.51%
Financial Services 		0.00% 0.00% 95.51% 71.19%
Energy 		0.00% 0.00% 32.10% 69.49%
Communication Services 		0.00% 0.00% 16.38% 69.49%
Consumer Defense 		0.00% 0.00% 53.62% 16.95%
Consumer Cyclical 		0.00% 0.00% 41.11% 23.73%
Basic Materials 		0.00% 0.00% 36.59% 1.69%

Stock Geographic Breakdown

Weighting Return Low Return High IVEG % Rank
US 		64.68% 0.00% 85.31% 29.41%
Non US 		34.82% 0.00% 98.35% 45.59%

IVEG - Expenses

Operational Fees

IVEG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.22% 4.26% 86.67%
Management Fee 0.47% 0.25% 1.90% 14.08%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.19% N/A

Sales Fees

IVEG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

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

IVEG Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 140.00% N/A

IVEG - Distributions

Dividend Yield Analysis

IVEG Category Low Category High IVEG % Rank
Dividend Yield 2.27% 0.00% 5.18% 30.67%

Dividend Distribution Analysis

IVEG Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Quarterly Annually

Net Income Ratio Analysis

IVEG Category Low Category High IVEG % Rank
Net Income Ratio N/A -2.66% 5.19% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

IVEG - Fund Manager Analysis

Managers

Paul Whitehead

Start Date

Tenure

Tenure Rank

Apr 25, 2022

0.1

0.1%

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.

Greg Savage

Start Date

Tenure

Tenure Rank

Apr 25, 2022

0.1

0.1%

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

Apr 25, 2022

0.1

0.1%

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.

Amy Whitelaw

Start Date

Tenure

Tenure Rank

Apr 25, 2022

0.1

0.1%

Amy Whitelaw is Managing Director of BlackRock, Inc. since 2013 and was Director of the firm from 2009 to 2012. Ms. Whitelaw's service with the firm dates back to 1998, including her years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. Ms. Whitelaw served as Principal of BGI from 2000 to 2009. Previously Ms. Whitelaw worked in the Transition Services group as a transition manager and strategist, and was also an international equity trader on BGI’s trading desk.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.75 23.1 6.84 3.29

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