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Name

As of 11/19/2024

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 J.P. Morgan EM Local Currency Bond ETF

LEMB | ETF

$36.54

$434 M

1.35%

$0.49

0.30%

Vitals

YTD Return

-0.5%

1 yr return

2.2%

3 Yr Avg Return

-1.8%

5 Yr Avg Return

-1.9%

Net Assets

$434 M

Holdings in Top 10

13.7%

52 WEEK LOW AND HIGH

$36.7
$35.13
$38.62

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 29.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/19/2024

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 J.P. Morgan EM Local Currency Bond ETF

LEMB | ETF

$36.54

$434 M

1.35%

$0.49

0.30%

LEMB - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return -1.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.72%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    iShares J.P. Morgan EM Local Currency Bond ETF
  • Fund Family Name
    BlackRock-advised Funds
  • Inception Date
    Sep 29, 2023
  • Shares Outstanding
    13200000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Mauro

Fund Description

The Fund seeks to track the investment results of the J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index (the “Underlying Index”), which tracks the performance of local currency-denominated sovereign bond markets of emerging market countries. All bonds included in the Underlying Index are selected according to a set of rule-based inclusion criteria regarding issue size, bond type, maturity, and liquidity. The securities included in the Underlying Index are rebalanced on the last weekday of the month. Eligible countries included in the Underlying Index are determined by JPMorgan Chase & Co. or its affiliates (the “Index Provider” or “J.P. Morgan”) based on the Index Provider’s definition of emerging market countries.
Eligible issuer countries must have (1) gross national income (“GNI”) below the Index Income Ceiling (“IIC”) for three consecutive years or (2) an Index Purchasing Power Parity Ratio (the “IPR”) below the EM IPR threshold, each as defined by the Index Provider, for three consecutive years. An existing
country may be considered for removal from the Underlying Index if its GNI per capita is above the IIC for three consecutive years and its long-term sovereign credit rating from Standard & Poor’s Global Ratings (“S&P Global”), Moody’s Investors Service, Inc. “Moody’s”), and Fitch Ratings, Inc. “Fitch”) is A-/A3/A- or above for three consecutive years. For purposes of compiling the Underlying Index, individual country weights are capped at maximum 15% and floored at minimum 4.5%. Eligible individual securities must have a minimum face amount outstanding of U.S. $1 billion equivalent for onshore local currency bonds and U.S. $500 million for global bonds (offshore currency linked bonds). All component securities must have at least 2.5 years to maturity from the inclusion date and a remaining maturity of 6 months or greater at the time of rebalancing to remain eligible for the Underlying Index.
Floating-rate issues, capitalization/amortizing bonds, and bonds with callable, puttable or convertible features are not eligible for inclusion in the Underlying Index.
As of October 31, 2023, the Underlying Index included securities issued by Brazil, Chile, China, Colombia, Czech Republic, Dominican Republic, Egypt, Hungary, Indonesia, Malaysia, Mexico, Peru, Poland, Romania, Serbia, South Africa, Thailand, Turkey and Uruguay.
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 value and industry weightings), fundamental characteristics (such as return variability, duration (i.e., a security's price sensitivity to a change in interest rates), maturity or credit ratings 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 will invest at least 80% of its assets in the component securities of the Underlying Index, and the Fund will invest at least 90% of its assets in fixed income securities of the types included in the Underlying Index that BFA believes will help the Fund track the Underlying Index. The Fund will invest no more than 10% of its assets in futures, options and swaps contracts that BFA believes will help the Fund track the Underlying Index as well as in fixed income securities other than the types 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 Underlying Index is sponsored by J.P. Morgan, 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), repurchase agreements collateralized by U.S. government securities, and securities of state or municipal governments and their political subdivisions are not considered to be issued by members of any industry.
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LEMB - Performance

Return Ranking - Trailing

Period LEMB Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -6.0% 465.2% 83.67%
1 Yr 2.2% -3.7% 487.9% 87.41%
3 Yr -1.8%* -8.3% 59.2% 90.85%
5 Yr -1.9%* -7.3% 29.2% 95.57%
10 Yr -1.2%* -5.5% 14.5% 95.14%

* Annualized

Return Ranking - Calendar

Period LEMB Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -10.6% 17.8% 41.16%
2022 -11.5% -29.1% -2.4% 6.69%
2021 -13.3% -24.0% 2.7% 90.71%
2020 3.1% -14.0% 9.7% 16.61%
2019 1.9% -6.4% 13.0% 95.51%

Total Return Ranking - Trailing

Period LEMB Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -6.0% 465.2% 83.67%
1 Yr 2.2% -3.7% 487.9% 87.41%
3 Yr -1.8%* -8.3% 59.2% 90.85%
5 Yr -1.9%* -7.3% 29.2% 95.57%
10 Yr -1.2%* -5.5% 14.5% 95.14%

* Annualized

Total Return Ranking - Calendar

Period LEMB Return Category Return Low Category Return High Rank in Category (%)
2023 7.2% -0.6% 20.0% 91.16%
2022 -10.7% -27.6% -1.7% 24.30%
2021 -9.9% -18.5% 7.4% 93.93%
2020 3.1% -7.8% 18.0% 76.75%
2019 6.4% -3.0% 23.0% 95.51%

LEMB - Holdings

Concentration Analysis

LEMB Category Low Category High LEMB % Rank
Net Assets 434 M 565 K 14.8 B 42.18%
Number of Holdings 353 4 1860 37.07%
Net Assets in Top 10 50.9 M -134 M 1.25 B 45.24%
Weighting of Top 10 13.66% 5.8% 102.2% 75.95%

Top 10 Holdings

  1. Dominican Republic International Bond 2.17%
  2. Dominican Republic International Bond 2.04%
  3. Uruguay Government International Bond 1.91%
  4. Uruguay Government International Bond 1.51%
  5. Serbia Treasury Bonds 1.28%
  6. Serbia Treasury Bonds 1.07%
  7. Serbia Treasury Bonds 1.04%
  8. Serbia Treasury Bonds 1.02%
  9. Brazil Letras do Tesouro Nacional 0.83%
  10. Uruguay Government International Bond 0.79%

Asset Allocation

Weighting Return Low Return High LEMB % Rank
Bonds 		96.88% 0.00% 105.61% 27.55%
Cash 		3.12% 0.00% 24.01% 61.22%
Stocks 		0.00% -0.01% 96.53% 52.38%
Preferred Stocks 		0.00% 0.00% 2.76% 26.53%
Other 		0.00% -13.89% 86.73% 64.29%
Convertible Bonds 		0.00% 0.00% 8.47% 70.10%

LEMB - Expenses

Operational Fees

LEMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.02% 32.92% 98.63%
Management Fee 0.30% 0.00% 1.10% 2.38%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

LEMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

LEMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

LEMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 29.00% 0.00% 218.00% 8.56%

LEMB - Distributions

Dividend Yield Analysis

LEMB Category Low Category High LEMB % Rank
Dividend Yield 1.35% 0.00% 22.22% 97.28%

Dividend Distribution Analysis

LEMB Category Low Category High Category Mod
Dividend Distribution Frequency Annual Quarterly Quarterly Quarterly

Net Income Ratio Analysis

LEMB Category Low Category High LEMB % Rank
Net Income Ratio 4.72% -2.28% 8.00% 20.91%

Capital Gain Distribution Analysis

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

Distributions History

View More +

LEMB - Fund Manager Analysis

Managers

James Mauro

Start Date

Tenure

Tenure Rank

Oct 18, 2011

10.62

10.6%

Head of San Francisco Fixed Income Core PM at BlackRock, Inc. since 2020; Managing Director of BlackRock, Inc. since 2015; Director of BlackRock, Inc. from 2010 to 2014; Vice President of State Street Global Advisors from 2001 to 2010. James Mauro has been employed by BlackRock Fund Advisors and BlackRock Institutional Trust Company, N.A. (“BTC”) as a portfolio manager since 2011. Prior to joining BTC, Mr. Mauro was a Vice President at State Street Global Advisors. His primary responsibilities include management of all government, inflation linked and derivative strategies. Other responsibilities include hedging and managing risk across all asset classes through futures and option overlays. James joined State Street Corporation in 1993. Previously, he worked as a portfolio manager on the passive team where he co-managed several Bond Index portfolios.

Karen Uyehara

Start Date

Tenure

Tenure Rank

Mar 01, 2021

1.25

1.3%

Ms. Uyehara is a Director of BlackRock, which she joined in 2010. Ms. Uyehara is a portfolio manager and member of BlackRock’s Model-Based Fixed Income Portfolio Management Group. Prior to joining BlackRock, Ms. Uyehara was a portfolio manager at Western Asset Management Company from2002 to 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.15 23.87 6.5 6.11

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