iShares MSCI Water Management Multisector ETF
Name
As of 02/07/2025Price
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
Vitals
YTD Return
1.9%
1 yr return
6.3%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$6.31 M
Holdings in Top 10
57.0%
52 WEEK LOW AND HIGH
$30.3
$28.76
$32.57
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 02/07/2025Price
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
IWTR - Profile
Distributions
- YTD Total Return 1.9%
- 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
- Dividend Yield 5.2%
- Dividend Distribution Frequency SemiAnnual
Fund Details
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Legal NameiShares MSCI Water Management Multisector ETF
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Fund Family NameBlackRock-advised Funds
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Inception DateSep 20, 2022
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Shares OutstandingN/A
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Share ClassN/A
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CurrencyUSD
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Domiciled CountryUS
Fund Description
The Fund seeks to track the investment results of the MSCI ACWI IMI Sustainable Water Transition Extended Capped Index (the “Underlying Index”), which has been developed by MSCI, Inc. (the “Index Provider” or “MSCI”). The Underlying Index is composed of U.S. and non-U.S. equity securities selected from the MSCI ACWI Investable Market Index (IMI) (the “Parent Index”). The Underlying Index is composed of two sets of constituents: 1) companies that
provide, or have high exposure to, water-focused products or services and derive at least 10% of their revenues from “sustainable water” (the “water supply universe”), or 2) companies that demonstrate relatively efficient water management (the “water usage universe”), each as determined by MSCI and described below. MSCI defines “sustainable water” as products and services that address water scarcity or water quality issues, including specialized wastewater treatment chemicals, smart metering devices, drought-resistant seeds, wastewater filters, desalination equipment and services, maintenance of water distribution infrastructure, and construction of wastewater plants and stormwater systems. To assess water management efficiency, MSCI calculates a water stress management score using metrics related to a company's water usage governance, strategy, targets and performance as well as water conflicts controversies.
The Parent Index includes large-, mid- and small-capitalization representation across 23 developed markets and 24 emerging markets countries.
The Index Provider begins with the Parent Index and excludes the securities of issuers that it identifies as being involved in the business of tobacco, companies involved with controversial weapons, producers and retailers of civilian firearms, and companies involved in thermal coal mining or sales, thermal coal-based power generation or the extraction of oil sands. Certain exclusions (e.g., controversial weapons) are categorical, and others are based on revenue or percentage of revenue thresholds.
Additional exclusions are based on certain environmental- or sustainability-related criteria. The Index Provider excludes companies that it determines are involved in “very severe”controversies related to the environmental, social or governance “ESG”) impact of the company’s operations and/or products and services. To evaluate ESG controversies, the Index Provider monitors across five categories of ESG impact – environment, human rights and communities, labor rights and supply chain, customers and governance – and 28 sub-categories. Companies that are involved in “noteworthy,”“severe” or “very severe”environmental controversies, as determined by the Index Provider, are also excluded. Environmental controversies can relate to, among other things, toxic emissions and waste, water stress, biodiversity and supply chain management.
Additionally, the Index Provider excludes companies belonging to the bottom 25% of the environmental pillar of the MSCI ESG Ratings framework, relative to their relevant ESG Ratings industry, as well as companies belonging to the bottom 25% of the water stress management score under the MSCI ESG Ratings framework, each as determined by the Index Provider. A company’s water stress management score is based on its efforts to manage water-related risks and opportunities. Also excluded are companies that are assessed by the Index Provider as “strongly misaligned” or “misaligned” to any of three United Nations Sustainable Development Goals (“SDGs”): Clean Water and Sanitation, Responsible Consumption and Production, and Life Below Water. The alignment assessment considers, among other things, revenues from products and services with positive or negative impact. The SDG assessment factors could include, among others, water consumption or withdrawal targets, exposure to water-intensive or water-polluting operations, and revenues from activities such as wastewater treatment.
From the universe of issuers remaining after the exclusions are applied (the “filtered universe”), the Index Provider selects two subsets of constituents, the water supply universe and the water usage universe, as described below.
Water Supply Universe. Constituents in the water supply universe of the Underlying Index engage in, or have high exposure to, the business activities of water supply, water utilities, water treatment or water-related equipment. Certain GICS sub-industries are excluded from the water supply universe, including, among others, diversified metals and mining, paper packaging and products, electric and gas utilities, and oil and gas equipment services, exploration, production, storage and transportation.
There are four possible ways for a company to be deemed to be engaged in, or have high exposure to, the business activities of water supply, water utilities, water treatment or water-related equipment and, therefore, included in the water supply universe. First, all companies from the water utility GICS sub-industry are included.
Second, companies with a “business segment relevance” to water score of 25% or more, as determined by the Index Provider, are included. This score represents the percentage of a company’s total revenues derived from water-based business segments. The Index Provider considers a business segment to be water-based if 1) its name includes at least one instance of any of the key words “water,”“plumbing,” or “flow” or 2) the segment is assigned to certain Standard Industrial Classification codes (e.g., pumps and pumping equipment, plumbing fixtures, water well drilling, sewerage system, air and water resource and solid waste management, water supply).
Third, companies within the GICS sectors of materials, information technology, industrials and utilities are included if they have a “business description relevance” to water score of 75% or more, as determined by the Index Provider. Companies in the GICS sub-industries of diversified chemicals, specialty chemicals and electronic equipment are included if they have a “business description relevance” score of 25% or more, as determined by the Index Provider. This score is based primarily on the frequency of the key words “water,”“plumbing” and “flow” as a percentage of the total number of words in the company’s business description.
Fourth, companies that derive 25% or more revenues from “sustainable water” products and services (as defined above) are included. Revenue figures associated with “sustainable water”activities are sourced from publicly available information when available. Revenue figures may be estimated by the Index Provider when companies do not report exact revenue figures for “sustainable water” products and services; these estimates are based on certain assumptions, including that a given company's product lines are of equal weight in terms of revenue contribution in the absence of information indicating otherwise.
As a final filter, companies that derive less than 10% of their revenues from “sustainable water” products and services are excluded from the water supply universe.
Water Usage Universe. The water usage universe of the Underlying Index is constructed by selecting stocks from the filtered universe that are not part of the water supply universe. The water usage selection process generally focuses on certain sub-industries within the GICS consumer discretionary, consumer staples, energy, information technology, materials and utilities sectors and other companies for which water stress is a key issue, as determined by the Index Provider. These include, among others, hotels, resorts, cruise lines, soft drinks, semiconductors, industrial gases, electric utilities and specialty chemicals. The Index Provider uses water stress management scores, as calculated under the MSCI ESG Ratings framework, to identify companies that the Index Provider has determined have better management strategies to address water stress, relative to their industry peers.
A company’s water stress management score is based on the following factors: (1) governance and strategy (e.g., executive body responsible for water management strategy and performance, implementation of water-efficient production processes); (2) targets (e.g., targets to improve water consumption performance, demonstrated track record of achieving water reduction targets); (3) performance (e.g., water intensity trend, as a proportion of sales); and (4) water conflicts
controversies (e.g., if a company is competing for water in a drought area). The Index Provider calculates a sector-relative version of the water stress management score by dividing the company’s score by the highest score among other companies in the same sector. Companies that are in the top 5% of the sector-relative water stress management scores across the relevant set of sub-industries and companies are selected for the water usage universe.
Securities included in the Underlying Index are weighted within their respective universe (i.e., water supply or water usage) in proportion to their free float-adjusted market capitalization. The Index Provider targets a weight of 50% of the Underlying Index for each of the water supply and water usage universes. The maximum weight of an issuer in its respective universe is 12%.
The Underlying Index is reconstituted and rebalanced semi-annually, when the Index Provider updates the filtered universe, the water supply universe and the water usage universe. The Underlying Index is also reviewed quarterly, at which time existing constituents in the filtered universe are deleted from the Underlying Index if they fall within an exclusions category.
As of August 31, 2024, the Underlying Index consisted of approximately 57 constituents and included securities of companies from the following countries or regions: Australia, Austria, Brazil, Chile, China, France, Hong Kong, India, Italy, Japan, the Netherlands, New Zealand, Saudi Arabia, Singapore, Switzerland, Taiwan, Thailand, the United Kingdom (the “U.K.”) and the U.S. As of August 31, 2024, a significant portion of the Underlying Index was represented by securities of companies in the industrials, technology and utilities industries or sectors. The components of the Underlying Index are likely to change over time.
BFA uses an indexing approach to try to achieve the Fund’s investment objective. 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 90% of its assets in the component securities of the 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 10% 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 MSCI, 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.
IWTR - Performance
Return Ranking - Trailing
Period | IWTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.9% | N/A | N/A | N/A |
1 Yr | 6.3% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | IWTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2024 | 1.9% | N/A | N/A | N/A |
2023 | 10.2% | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | IWTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.9% | N/A | N/A | N/A |
1 Yr | 6.3% | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | IWTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2024 | 5.4% | N/A | N/A | N/A |
2023 | 15.2% | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
IWTR - Holdings
Concentration Analysis
IWTR | Category Low | Category High | IWTR % Rank | |
---|---|---|---|---|
Net Assets | 6.31 M | N/A | N/A | N/A |
Number of Holdings | 58 | N/A | N/A | N/A |
Net Assets in Top 10 | 3.6 M | N/A | N/A | N/A |
Weighting of Top 10 | 56.95% | N/A | N/A | N/A |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 7.50%
- Texas Instruments Inc 6.52%
- American Water Works Co Inc 6.22%
- Geberit AG 6.20%
- Xylem Inc/NY 6.13%
- Marriott International Inc/MD 5.75%
- Hoya Corp 5.39%
- Hilton Worldwide Holdings Inc 4.78%
- Veolia Environnement SA 4.43%
- Intel Corp 4.04%
Asset Allocation
Weighting | Return Low | Return High | IWTR % Rank | |
---|---|---|---|---|
Stocks | 98.80% | N/A | N/A | N/A |
Preferred Stocks | 1.06% | N/A | N/A | N/A |
Cash | 0.14% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Bonds | 0.00% | N/A | N/A | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | IWTR % Rank | |
---|---|---|---|---|
Utilities | 0.00% | N/A | N/A | N/A |
Technology | 0.00% | N/A | N/A | N/A |
Real Estate | 0.00% | N/A | N/A | N/A |
Industrials | 0.00% | N/A | N/A | N/A |
Healthcare | 0.00% | N/A | N/A | N/A |
Financial Services | 0.00% | N/A | N/A | N/A |
Energy | 0.00% | N/A | N/A | N/A |
Communication Services | 0.00% | N/A | N/A | N/A |
Consumer Defense | 0.00% | N/A | N/A | N/A |
Consumer Cyclical | 0.00% | N/A | N/A | N/A |
Basic Materials | 0.00% | N/A | N/A | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | IWTR % Rank | |
---|---|---|---|---|
US | 51.89% | N/A | N/A | N/A |
Non US | 46.91% | N/A | N/A | N/A |
IWTR - Expenses
Operational Fees
IWTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.47% | N/A | N/A | N/A |
Management Fee | 0.47% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
IWTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
IWTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
IWTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
IWTR - Distributions
Dividend Yield Analysis
IWTR | Category Low | Category High | IWTR % Rank | |
---|---|---|---|---|
Dividend Yield | 5.22% | N/A | N/A | N/A |
Dividend Distribution Analysis
IWTR | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | SemiAnnual |
Net Income Ratio Analysis
IWTR | Category Low | Category High | IWTR % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
IWTR | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 17, 2024 | $0.781 | OrdinaryDividend |
Jun 11, 2024 | $0.259 | OrdinaryDividend |
Dec 20, 2023 | $0.998 | OrdinaryDividend |
Jun 07, 2023 | $0.281 | OrdinaryDividend |
Dec 13, 2022 | $0.086 | OrdinaryDividend |