iShares Blockchain and Tech ETF
Name
As of 05/03/2024Price
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
-10.6%
1 yr return
56.9%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$23.6 M
Holdings in Top 10
103.1%
52 WEEK LOW AND HIGH
$25.9
$15.12
$34.62
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 05/03/2024Price
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
IBLC - Profile
Distributions
- YTD Total Return -10.6%
- 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 2.5%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameiShares Blockchain and Tech ETF
-
Fund Family NameBlackRock-advised Funds
-
Inception DateApr 27, 2022
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAmy Whitelaw
Fund Description
The Fund seeks to track the investment results of the NYSE FactSet Global Blockchain Technologies Index (the “Underlying Index”), which is a rules-based, modified float-adjusted market capitalization-weighted equity index that measures the performance of equity securities issued by U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies. The Fund may invest in non-U.S. companies, including those located in emerging markets, without any limits consistent with the Underlying Index. ICE Data Indices, LLC, or its affiliates (the “Index Provider” or “IDI”), uses FactSet’s Revere Business Industry Classification System (“RBICS”) classifications to determine the eligible universe.
The Index Provider defines “blockchain”as technologies characterized by a shared, peer-to-peer, decentralized, and immutable ledger ideally suited for recording information. Information on the blockchain is secured through a
validation process involving cryptography known as “mining,” which integrates a new set of information (known as a “block”) with all previous blocks on the ledger (thus creating a chain). One use of blockchain is “cryptocurrency,” which is a digital asset that typically uses blockchain’s decentralized and secured ledger as a method of verifying transactions and ownership. The Fund's investments will include companies involved in (a) cryptocurrency mining, (b) cryptocurrency trading and exchanges, (c) crypto-mining systems or (d) blockchain technology.
IDI begins with common equity securities (including depositary receipts) that have a market capitalization of $100 million or greater and a three-month Average Daily Trading Value (“ADTV”) of $1 million or greater and are from one of 43 eligible countries (as disclosed in the Fund’s Statement of Additional Information “SAI”)). From this starting universe, IDI selects, as “Tier 1” securities, companies generating 50% or more revenue from the following RBICS Focus Level 6 industries: Blockchain Technology; Cryptocurrency Mining; and Cryptocurrency Trading and Exchanges. Tier 1 also includes securities in the RBICS Focus Level 6 industry Multi-Type Business and Personal Systems that are also classified in FactSet's proprietary Revere Hierarchy Focus industry Crypto-mining Systems.
In order to capture those companies that design and manufacture graphics processing unit (GPU) chips necessary for mining, IDI next selects, as “Tier 2”securities, companies in the RBICS Focus Level 6 Video Multimedia Semiconductor industry. Additionally for Tier 2, IDI selects the securities of
companies in the following Revere Hierarchy Focus industries in order to capture those companies that have an ancillary business related to blockchain: Blockchain Technology; Cryptocurrency Mining; Cryptocurrency Trading/Exchanges; and Crypto-mining Systems. The Fund will not invest in cryptocurrency (i) directly or (ii) indirectly through the use of derivatives on such assets.
The Underlying Index will have a minimum of 35 constituents at selection and will include all Tier 1 securities and a minimum of 10 Tier 2 securities, selected in descending order of float-adjusted market capitalization. The component securities of the Underlying Index are weighted by float-adjusted market capitalization with Tier 1 securities allocated a minimum weight of 75% in aggregate, subject to capping constraints. Each Tier 1 security is capped at 12%, and each Tier 2 security is capped at 4% of the Underlying Index, each at rebalance. Securities with weights greater than 4.5% shall not in aggregate exceed 45% of the Underlying Index weight at rebalance. Additionally, Tier 1 securities whose constituent weight is greater than ten (10) times their three-month ADTV will have their weights determined by their liquidity weight instead of by float-adjusted market capitalization. The Index Provider determines the liquidity weight of a security as follows: index weight assigned to a security based on the relative three-month median daily value traded of the security compared to that measure for the overall index.
The Underlying Index will be reviewed and reconstituted semi-annually in March and September each year. Constituent weights of the Underlying Index are rebalanced quarterly. The
Underlying Index includes large-, mid- and small-capitalization companies and may change over time.
As of March 31, 2023, a significant portion of the Underlying Index is represented by securities of companies in the blockchain, financials and technology 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. 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 owned, maintained and administered by the Index Provider, 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.
IBLC - Performance
Return Ranking - Trailing
| Period | IBLC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.6% | -38.5% | 31.2% | N/A |
| 1 Yr | 56.9% | -67.1% | 39.2% | N/A |
| 3 Yr | N/A* | -40.8% | 30.6% | N/A |
| 5 Yr | N/A* | -33.3% | 22.3% | N/A |
| 10 Yr | N/A* | -16.3% | 23.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | IBLC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 194.7% | -73.9% | 35.7% | N/A |
| 2022 | N/A | -25.6% | 73.1% | N/A |
| 2021 | N/A | -97.5% | 60.0% | N/A |
| 2020 | N/A | -24.7% | 44.9% | N/A |
| 2019 | N/A | -22.9% | 38.5% | N/A |
Total Return Ranking - Trailing
| Period | IBLC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.6% | -75.9% | 954.2% | N/A |
| 1 Yr | 56.9% | -67.1% | 66.6% | N/A |
| 3 Yr | N/A* | -40.8% | 30.6% | N/A |
| 5 Yr | N/A* | -33.3% | 30.0% | N/A |
| 10 Yr | N/A* | -16.3% | 23.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | IBLC Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 201.6% | -73.9% | 35.7% | N/A |
| 2022 | N/A | -25.6% | 73.1% | N/A |
| 2021 | N/A | -97.5% | 60.0% | N/A |
| 2020 | N/A | -24.7% | 44.9% | N/A |
| 2019 | N/A | -22.9% | 43.6% | N/A |
IBLC - Holdings
Concentration Analysis
| IBLC | Category Low | Category High | IBLC % Rank | |
|---|---|---|---|---|
| Net Assets | 23.6 M | 863 K | 50.4 B | 90.59% |
| Number of Holdings | 38 | 1 | 470 | 71.38% |
| Net Assets in Top 10 | 18.1 M | 0 | 30.3 B | 84.24% |
| Weighting of Top 10 | 103.15% | 7.6% | 100.0% | 9.68% |
Top 10 Holdings
- BlackRock Cash Funds: Institutional, SL Agency Shares 39.41%
- Marathon Digital Holdings Inc 15.52%
- Coinbase Global Inc 11.77%
- Riot Platforms Inc 10.17%
- Bitfarms Ltd/Canada 5.95%
- Cleanspark Inc 4.93%
- Applied Digital Corp 4.22%
- Hut 8 Corp 3.99%
- Advanced Micro Devices Inc 3.66%
- Block Inc 3.52%
Asset Allocation
| Weighting | Return Low | Return High | IBLC % Rank | |
|---|---|---|---|---|
| Stocks | 99.79% | 0.00% | 100.53% | 36.66% |
| Cash | 39.47% | -0.53% | 100.00% | 57.56% |
| Other | 0.00% | -1.08% | 26.87% | 20.26% |
| Preferred Stocks | 0.00% | 0.00% | 2.84% | 11.25% |
| Convertible Bonds | 0.00% | 0.00% | 0.40% | 8.68% |
| Bonds | 0.00% | 0.00% | 4.72% | 9.00% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | IBLC % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 6.27% | 9.03% |
| Technology | 0.00% | 2.80% | 100.00% | 75.16% |
| Real Estate | 0.00% | 0.00% | 15.05% | 28.06% |
| Industrials | 0.00% | 0.00% | 53.73% | 39.03% |
| Healthcare | 0.00% | 0.00% | 43.58% | 54.19% |
| Financial Services | 0.00% | 0.00% | 52.54% | 1.61% |
| Energy | 0.00% | 0.00% | 7.96% | 8.39% |
| Communication Services | 0.00% | 0.00% | 97.05% | 84.52% |
| Consumer Defense | 0.00% | 0.00% | 5.64% | 18.71% |
| Consumer Cyclical | 0.00% | 0.00% | 51.15% | 72.58% |
| Basic Materials | 0.00% | 0.00% | 36.08% | 17.10% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | IBLC % Rank | |
|---|---|---|---|---|
| US | 94.33% | 0.00% | 100.53% | 85.85% |
| Non US | 5.45% | 0.00% | 99.27% | 10.93% |
IBLC - Expenses
Operational Fees
| IBLC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.47% | 0.08% | 2.97% | 79.42% |
| Management Fee | 0.47% | 0.00% | 1.95% | 15.97% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 0.50% | N/A |
Sales Fees
| IBLC 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% | 4.00% | N/A |
Trading Fees
| IBLC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| IBLC Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 281.00% | N/A |
IBLC - Distributions
Dividend Yield Analysis
| IBLC | Category Low | Category High | IBLC % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.54% | 0.00% | 42.10% | 22.36% |
Dividend Distribution Analysis
| IBLC | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Monthly | Annually |
Net Income Ratio Analysis
| IBLC | Category Low | Category High | IBLC % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -2.30% | 2.08% | N/A |
Capital Gain Distribution Analysis
| IBLC | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.332 | OrdinaryDividend |
| Jun 13, 2023 | $0.192 | OrdinaryDividend |
| Dec 19, 2022 | $0.080 | OrdinaryDividend |
| Jun 15, 2022 | $0.003 | OrdinaryDividend |
IBLC - Fund Manager Analysis
Managers
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.
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 32.43 | 7.88 | 2.12 |