iShares Exponential Technologies ETF
ETF
XT
Price as of:
$59.62
+ $0.33
+ 0.56%
Primary Theme
fund company
Name
As of 11/19/2024Price
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
-0.1%
1 yr return
9.0%
3 Yr Avg Return
-3.2%
5 Yr Avg Return
8.5%
Net Assets
$3.46 B
Holdings in Top 10
11.2%
52 WEEK LOW AND HIGH
$59.3
$54.45
$61.76
Expenses
OPERATING FEES
Expense Ratio 0.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 23.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/19/2024Price
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
XT - Profile
Distributions
- YTD Total Return -0.1%
- 3 Yr Annualized Total Return -3.2%
- 5 Yr Annualized Total Return 8.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.91%
- Dividend Yield 0.5%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameiShares Exponential Technologies ETF
-
Fund Family NameBlackRock-advised Funds
-
Inception DateMar 19, 2015
-
Shares Outstanding61100000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGreg Savage
Fund Description
The Fund seeks to track the investment results of the Morningstar® Exponential Technologies IndexSM (the “Underlying Index”), which measures the performance of equity securities issued by companies that the Global Equity Research team of Morningstar, Inc. (the “Index Provider” or “Morningstar”) has determined are positioned to experience meaningful economic benefits as a supplier, user, or producer of promising technologies. Exponential technologies displace older technologies, create new markets and have the potential to effect significant economic impacts.
The Underlying Index is a subset of the Morningstar Global Markets Index (the “Parent Index”). The eligible universe of securities in the Underlying Index must be in the Morningstar Global Equity Index family and scored by Morningstar’s Equity Research analysts.
The Morningstar analysts perform fundamental research in order to score companies within the eligible universe along a four-point scale based on exponential technology themes that Morningstar believes have the potential to have significant economic benefits to producers and users. Analysts project whether exposure to the theme will drive a material net profit increase and then project the percentage revenue in five years the company will derive from exposure to the theme. For companies classified as “producers,” those projected to derive more than 50% revenue are assigned a score of “4.” For companies classified as “suppliers,”those projected to derive more than 50% revenue are assigned a score of “3.” For companies classified as “producers or suppliers,” those projected to derive between 25 and 50% revenue are assigned a score of “2.” For companies classified as “producers or suppliers,” those projected to derive between 10 and 25% revenue are assigned a score of “1.” For companies classified as “downstream users” and all others that are projected to derive less than 10% revenue are assigned a score of “0.” As of October 12, 2023, Morningstar has identified nine exponential technology themes: big data and analytics, cloud computing, energy transition, fintech innovation, healthcare innovation, hyperconnectivity, nanotechnology, next gen transportation, and robotics. The themes are reviewed on an annual basis and may change over time. As a general matter, these themes focus on issuers that are either developing
resources for others or are advanced in their own applications in the following areas: processing and capturing customer or other business-related data, and analyzing and leveraging that data to grow the business; making information and applications available on a scalable, on-demand manner through the internet; working to abate global climate change and reduce greenhouse gases; searching for and acknowledging nontraditional emerging funding sources, platforms, currency, and stored and transferred value; unlocking the human genome; fueling rapid growth in connected devices and a need to push more data at faster transmission rates between users and devices; engineering and technology applications focused on manipulation of matter on an atomic, molecular or supramolecular level; replacing traditional human-operated, internal combustion engine-based vehicles; and engaging with the design, construction, operation, and application of robots.
Morningstar’s sector strategists, directors and selection committee review the scores assigned by the Morningstar analysts and may calibrate or revise the scores to ensure consistency in scoring across analysts, sectors, geographies and themes. Morningstar eliminates companies with average three-month trailing daily trading volume less than $2 million and/or float market capitalization of $300 million or less. Constituents are then ranked in descending order based on the number of themes in which a company scores a “4,” the number of themes in which a company scores a “3,” the number of themes in which a company scores a “2” and the number of themes in which a company scores a “1.” Each company must receive a score
of 1 or higher on at least one of the targeted themes to be included in the Underlying Index. Current index constituents are given preference and smaller market capitalization is preferred over larger market capitalization. To ensure representation across each theme, Morningstar prioritizes theme leaders for inclusion in the Underling Index. Morningstar identifies “Theme Leaders” by prioritizing up to the top 10 scoring companies within each theme based on the following descending order of preference: highest thematic score, with preference given to existing index constituents and smaller market capitalization over larger market capitalization. From this prioritization, companies are added to the list of constituents until the Underlying Index has 200 constituents.
After selection and weighting of the portfolio, 90% of index weight at the time of reconstitution must have a score of 2 in at least one theme.
The Underlying Index is equal weighted and is reconstituted and rebalanced annually.
The Underlying Index includes large-, mid- and small-capitalization companies and may change over time. As of July 31, 2023, a significant portion of the Underlying Index is represented by securities of companies in the healthcare and technology industries or sectors. The components of the Underlying Index are likely to change over time. As of July 31, 2023, the Underlying Index consisted of securities from the following 19 countries or regions: Australia, Canada, Chile, China, Denmark, Finland, France, Germany, Israel, Italy, Japan, the Netherlands, South Korea, Spain, Sweden,
Switzerland, Taiwan, 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 and the Parent Index are 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 the Parent Index and publishes information regarding the market value of the Underlying Index and the Parent 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.
XT - Performance
Return Ranking - Trailing
| Period | XT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -35.1% | 100.1% | 58.82% |
| 1 Yr | 9.0% | -29.5% | 116.0% | 50.00% |
| 3 Yr | -3.2%* | -45.2% | 22.2% | 52.94% |
| 5 Yr | 8.5%* | -26.0% | 26.8% | 40.63% |
| 10 Yr | N/A* | -1.8% | 16.7% | 37.93% |
* Annualized
Return Ranking - Calendar
| Period | XT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 26.5% | -34.8% | 38.7% | 17.65% |
| 2022 | -28.3% | -72.7% | 8.2% | 55.88% |
| 2021 | 15.4% | -31.7% | 27.4% | 12.12% |
| 2020 | 33.9% | -29.0% | 233.6% | 59.38% |
| 2019 | 28.6% | -2.0% | 66.0% | 40.74% |
Total Return Ranking - Trailing
| Period | XT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -35.1% | 100.1% | 58.82% |
| 1 Yr | 9.0% | -29.5% | 116.0% | 50.00% |
| 3 Yr | -3.2%* | -45.2% | 22.2% | 52.94% |
| 5 Yr | 8.5%* | -26.0% | 26.8% | 40.63% |
| 10 Yr | N/A* | -1.8% | 16.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | XT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 27.0% | -33.0% | 39.0% | 17.65% |
| 2022 | -27.8% | -72.7% | 8.2% | 55.88% |
| 2021 | 16.4% | -31.7% | 28.3% | 24.24% |
| 2020 | 35.1% | -28.9% | 233.9% | 56.25% |
| 2019 | 30.7% | 0.4% | 66.5% | 44.44% |
XT - Holdings
Concentration Analysis
| XT | Category Low | Category High | XT % Rank | |
|---|---|---|---|---|
| Net Assets | 3.46 B | 3.78 M | 31.2 B | 5.88% |
| Number of Holdings | 191 | 20 | 389 | 11.76% |
| Net Assets in Top 10 | 382 M | 2.31 M | 5.86 B | 29.41% |
| Weighting of Top 10 | 11.17% | 11.2% | 90.4% | 100.00% |
Top 10 Holdings
- BlackRock Cash Funds: Institutional, SL Agency Shares 3.61%
- NVIDIA Corp 1.24%
- Broadcom Inc 0.85%
- Toast Inc 0.85%
- Coinbase Global Inc 0.81%
- Arista Networks Inc 0.79%
- Palantir Technologies Inc 0.76%
- Taiwan Semiconductor Manufacturing Co Ltd 0.76%
- Monolithic Power Systems Inc 0.76%
- KLA Corp 0.74%
Asset Allocation
| Weighting | Return Low | Return High | XT % Rank | |
|---|---|---|---|---|
| Stocks | 98.89% | 0.00% | 101.10% | 47.06% |
| Cash | 3.75% | 0.00% | 99.38% | 67.65% |
| Preferred Stocks | 0.83% | 0.00% | 45.05% | 26.47% |
| Convertible Bonds | 0.00% | 0.00% | 3.05% | 39.39% |
| Bonds | 0.00% | 0.00% | 97.85% | 41.18% |
| Other | -0.01% | -7.62% | 91.95% | 91.18% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | XT % Rank | |
|---|---|---|---|---|
| Technology | 52.06% | 0.00% | 72.56% | 12.00% |
| Healthcare | 24.18% | 0.00% | 65.82% | 28.00% |
| Industrials | 5.28% | 0.00% | 90.47% | 48.00% |
| Communication Services | 4.57% | 0.00% | 16.38% | 20.00% |
| Basic Materials | 4.11% | 0.00% | 17.92% | 32.00% |
| Consumer Cyclical | 3.47% | 0.00% | 34.19% | 68.00% |
| Financial Services | 2.38% | 0.00% | 95.51% | 36.00% |
| Utilities | 2.30% | 0.00% | 85.14% | 44.00% |
| Energy | 0.92% | 0.00% | 32.10% | 28.00% |
| Real Estate | 0.54% | 0.00% | 16.54% | 36.00% |
| Consumer Defense | 0.19% | 0.00% | 50.44% | 28.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | XT % Rank | |
|---|---|---|---|---|
| US | 59.60% | 0.00% | 101.10% | 35.29% |
| Non US | 39.29% | 0.00% | 82.82% | 23.53% |
XT - Expenses
Operational Fees
| XT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.46% | 0.41% | 5.61% | 97.06% |
| Management Fee | 0.46% | 0.25% | 1.90% | 20.59% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 0.19% | N/A |
Sales Fees
| XT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| XT 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.
| XT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 23.00% | 0.00% | 124.00% | 36.36% |
XT - Distributions
Dividend Yield Analysis
| XT | Category Low | Category High | XT % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.53% | 0.00% | 12.45% | 52.94% |
Dividend Distribution Analysis
| XT | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| XT | Category Low | Category High | XT % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.91% | -2.66% | 5.19% | 29.41% |
Capital Gain Distribution Analysis
| XT | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 11, 2024 | $0.158 | OrdinaryDividend |
| Dec 20, 2023 | $0.107 | OrdinaryDividend |
| Jun 07, 2023 | $0.141 | OrdinaryDividend |
| Dec 13, 2022 | $0.151 | OrdinaryDividend |
| Jun 09, 2022 | $0.220 | OrdinaryDividend |
| Dec 13, 2021 | $0.280 | OrdinaryDividend |
| Jun 10, 2021 | $0.273 | OrdinaryDividend |
| Dec 30, 2020 | $0.011 | Extra |
| Dec 14, 2020 | $0.186 | OrdinaryDividend |
| Jun 15, 2020 | $0.242 | OrdinaryDividend |
| Dec 16, 2019 | $0.304 | OrdinaryDividend |
| Jun 17, 2019 | $0.359 | OrdinaryDividend |
| Dec 28, 2018 | $0.015 | ExtraDividend |
| Dec 18, 2018 | $0.179 | OrdinaryDividend |
| Jun 19, 2018 | $0.287 | OrdinaryDividend |
| Dec 28, 2017 | $0.007 | ExtraDividend |
| Dec 21, 2017 | $0.098 | OrdinaryDividend |
| Jun 20, 2017 | $0.237 | OrdinaryDividend |
| Dec 22, 2016 | $0.147 | OrdinaryDividend |
| Jun 21, 2016 | $0.220 | OrdinaryDividend |
| Dec 21, 2015 | $0.194 | OrdinaryDividend |
| Jun 24, 2015 | $0.138 | OrdinaryDividend |
XT - Fund Manager Analysis
Managers
Greg Savage
Start Date
Tenure
Tenure Rank
Mar 19, 2015
7.21
7.2%
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
Mar 19, 2015
7.21
7.2%
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
Nov 29, 2018
3.5
3.5%
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
Jan 01, 2022
0.41
0.4%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 1.25 | 23.1 | 9.26 | 22.93 |