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Name

As of 11/22/2024

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 Future Metaverse Tech and Communications ETF

IVRS | ETF

$35.40

$6.58 M

0.02%

$0.01

0.47%

Vitals

YTD Return

8.7%

1 yr return

15.1%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$6.58 M

Holdings in Top 10

51.5%

52 WEEK LOW AND HIGH

$35.3
$30.35
$36.15

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 11/22/2024

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 Future Metaverse Tech and Communications ETF

IVRS | ETF

$35.40

$6.58 M

0.02%

$0.01

0.47%

IVRS - Profile

Distributions

  • YTD Total Return 8.7%
  • 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 0.0%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    iShares Future Metaverse Tech and Communications ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Feb 16, 2023
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund seeks to track the investment results of the Morningstar© Global Metaverse & Virtual Interaction Select IndexSM (the “Underlying Index”), which measures the performance of equity securities issued by U.S. and non-U.S. companies that enable the “metaverse”and virtual interactions, as determined by Morningstar or its affiliates “Morningstar” or the “Index Provider”). The Index Provider defines “metaverse”as a three-dimensional immersive digital world.
Morningstar evaluates companies based on five-year net profit and revenue projections as a producer or supplier with respect to six themes:
• Metaverse Platforms: Technologies that facilitate virtual interactions across a high volume of users, combining elements of 3D rendering and simulation software, wearable technology, immersive gaming, enhanced social media, and digital assets and payments.
• Wearable Technology and VR/AR: Virtual reality (“VR”) is the use of
computer technology to create the effect of an interactive three-dimensional world in which the objects have a sense of spatial presence. Augmented reality (“AR”) is an enhanced version of reality created by the use of technology to overlay digital information on an image of something being viewed through a device.
• Enhanced Social Media: Interactive digital channels, enhanced by the use of VR and AR platforms, that allow users to create and share content.
• Immersive Gaming: All-encompassing online games that many players can play simultaneously and the associated tools and hardware that facilitate their development.
• 3D Rendering and Simulation Software: Software and tools leveraged by businesses, consumers, and brands to build and develop content for VR and AR platforms.
• Digital Assets and Payments: A digital asset is a collection of binary data which is self-contained, uniquely identifiable, and has a value, such as non-fungible tokens and cryptocurrencies. Digital payments are transfers of value from one payment account to another by use of a digital device, with no exchange of cash. This theme targets companies that facilitate the use of payment solutions or digital assets in the metaverse or enhanced shared virtual spaces.
The Fund does not invest in cryptocurrencies or other digital assets directly or indirectly through the use of derivatives on such assets.
To construct the Underlying Index, the Index Provider begins with the Morningstar Global Markets ex-India Index and excludes companies 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. Current index constituents are ineligible if they have average three-month daily trading volume of less than $1.5 million or a free-float market capitalization less than $200 million at rebalance.
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 exposure from at least one theme and, as determined by Morningstar, must be highly likely to experience at least a 5% increase in net profit over the next five years from exposure to that 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: 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. Tier 1 issuers are those with an aggregate score (the sum of all exposure scores) of 3 or more and at least an aggregate, non-overlapping revenue exposure of 25% across all themes relative to company-wide revenue. Tier 2 issuers are those with an aggregate score of less than 3. Morningstar ranks Tier 2 issuers with preference given to higher aggregate score, number of themes with higher scores, current index 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-adjusted market capitalization-weighted with a minimum 80% weight, in aggregate, allocated to Tier 1 constituents. Individual Tier 1 constituents have a 6% cap, while individual Tier 2 constituents have a 3% cap. Constituents with an aggregate score of 1, or an aggregate score of 2 of which one point comes from Metaverse Platforms, are constrained to 10% of the Underlying Index. Of the 10% weight, at most only 5% can be in sectors outside of technology or communications. At each rebalance, issuers with weights over 4.5% shall not in aggregate exceed 45% of the Underlying Index. In case there is no feasible solution for capping, the Index Provider will loosen constraints until a solution can be
found, such as reducing the minimum weight of Tier 1 constituents in 1% increments until that capping is feasible.
The Underlying Index is reconstituted each December and rebalanced quarterly. The themes are reviewed annually by the Index Provider and are subject to change as they evolve, and new themes emerge.
The Underlying Index may include large-,mid- and small-capitalization companies and may change over time. As of March 31, 2024, a significant portion of the Underlying Index is represented by securities of companies in the technology and telecommunications industries or sectors. As of March 31, 2024, the Underlying Index included 44 constituents from the following countries or regions: China, France, Japan, South Korea, Taiwan 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

IVRS - Performance

Return Ranking - Trailing

Period IVRS Return Category Return Low Category Return High Rank in Category (%)
YTD 8.7% N/A N/A N/A
1 Yr 15.1% 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 IVRS Return Category Return Low Category Return High Rank in Category (%)
2023 N/A 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
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period IVRS Return Category Return Low Category Return High Rank in Category (%)
YTD 8.7% N/A N/A N/A
1 Yr 15.1% 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 IVRS Return Category Return Low Category Return High Rank in Category (%)
2023 N/A 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
2019 N/A N/A N/A N/A

IVRS - Holdings

Concentration Analysis

IVRS Category Low Category High IVRS % Rank
Net Assets 6.58 M N/A N/A N/A
Number of Holdings 42 N/A N/A N/A
Net Assets in Top 10 3.38 M N/A N/A N/A
Weighting of Top 10 51.46% N/A N/A N/A

Top 10 Holdings

  1. BlackRock Cash Funds: Institutional, SL Agency Shares 8.01%
  2. Meta Platforms Inc 5.96%
  3. Autodesk Inc 5.04%
  4. Krafton Inc 4.73%
  5. Sony Group Corp 4.67%
  6. ROBLOX Corp 4.65%
  7. Electronic Arts Inc 4.65%
  8. PTC Inc 4.63%
  9. NetEase Inc 4.62%
  10. Kakao Games Corp 4.50%

Asset Allocation

Weighting Return Low Return High IVRS % Rank
Stocks 		99.89% N/A N/A N/A
Cash 		8.01% N/A N/A N/A
Preferred Stocks 		0.00% 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 IVRS % 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 IVRS % Rank
US 		64.48% N/A N/A N/A
Non US 		35.41% N/A N/A N/A

IVRS - Expenses

Operational Fees

IVRS 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

IVRS 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

IVRS 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.

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

IVRS - Distributions

Dividend Yield Analysis

IVRS Category Low Category High IVRS % Rank
Dividend Yield 0.02% N/A N/A N/A

Dividend Distribution Analysis

IVRS Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual

Net Income Ratio Analysis

IVRS Category Low Category High IVRS % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

IVRS Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

IVRS - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A

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