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BlackRock Institutional Trust Company N.A. - iShares Currency Hedged MSCI Mexico ETF
ETF
HEWW
Payout Change
Suspended
Price as of:
$
+0.0
+0.0%
primary theme
N/A
HEWW (ETF)
BlackRock Institutional Trust Company N.A. - iShares Currency Hedged MSCI Mexico ETF
Payout Change
Suspended
Price as of:
$
+0.0
+0.0%
primary theme
N/A
HEWW (ETF)
BlackRock Institutional Trust Company N.A. - iShares Currency Hedged MSCI Mexico ETF
Payout Change
Suspended
Price as of:
$
+0.0
+0.0%
primary theme
N/A
Name
As of 08/24/2021Price
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
-
$700 K
0.00%
-
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$700 K
Holdings in Top 10
100.0%
52 WEEK LOW AND HIGH
$18.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio N/A
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 08/24/2021Price
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
-
$700 K
0.00%
-
HEWW - Profile
Distributions
- YTD Total Return N/A
- 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 0.0%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameBlackRock Institutional Trust Company N.A. - iShares Currency Hedged MSCI Mexico ETF
-
Fund Family NameBlackRock-advised Funds
-
Inception DateN/A
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerOrlando Montalvo
Fund Description
The Fund seeks to track the investment results of the MSCI Mexico IMI 25/50 100% Hedged to USD Index (the “Underlying Index”), which primarily consists of stocks traded on the Mexican Stock Exchange with the currency risk inherent in the securities included in the Underlying Index hedged to the U.S. dollar on a monthly basis.
The Underlying Index is a free float-adjusted market capitalization-weighted index with a capping methodology applied to issuer weights so that no single issuer exceeds 25% of the Underlying Index weight, and all issuers with a weight above 5% do not cumulatively exceed 50% of the Underlying Index weight. The Underlying Index includes large-, mid- and small-capitalization companies and may change over time. As of August 31, 2020, a significant portion of the Underlying Index is represented by securities of companies in the communications services and consumer staples industries or sectors. The components of the Underlying Index are likely to change over time.
Currently, the Fund achieves its investment objective by investing a substantial portion of its assets in the Underlying Fund.
BFA uses a “passive” or 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 and the Underlying Fund. “Representative sampling” is an
indexing strategy that involves investing in a representative sample of securities or other instruments comprising 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 and the Underlying Fund may or may not hold all of the securities and other components of the applicable underlying index.
The Fund generally will invest at least 90% of its assets in the component securities (including indirect investments through the Underlying Fund) and other instruments of the Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of the Underlying Index (., 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. Components of the Underlying Index include equity securities and foreign currency forward contracts (both deliverable and non-deliverable) designed to hedge non-U.S. currency fluctuations against the U.S. dollar. The notional exposure to foreign currency forward contracts (both deliverable and non-deliverable) generally will be a short position that
i.e
hedges the currency risk of the equity portfolio. The Fund seeks to track the investment results of the Underlying Index before fees and expenses of the Fund.
The Underlying Index sells forward the total value of the non-U.S. dollar denominated securities included in the Underlying Index at a one-month forward rate to effectively create a “hedge” against fluctuations in the relative value of the Mexican peso in relation to the U.S. dollar. The hedge is reset on a monthly basis. The Underlying Index is designed to have higher returns than an equivalent unhedged investment when the Mexican peso is weakening relative to the U.S. dollar. Conversely, the Underlying Index is designed to have lower returns than an equivalent unhedged investment when the Mexican peso is rising relative to the U.S. dollar.
In order to track the “hedging” component of the Underlying Index, the Fund intends to enter into foreign currency forward contracts designed to offset the Fund’s exposure to the Mexican peso. A foreign currency forward contract is a contract between two parties to buy or sell a specified amount of a specific currency in the future at an agreed-upon exchange rate. The Fund's exposure to foreign currency forward contracts is based on the aggregate exposure of the Fund to the Mexican peso. While this approach is designed to minimize the impact of currency fluctuations on Fund returns, it does not necessarily eliminate the Fund’s exposure to the Mexican peso. The return of the foreign currency forward contracts may not perfectly offset the actual fluctuations in value between the Mexican peso and the U.S. dollar.
The Fund may also use non-deliverable forward (“NDF”) contracts to execute its hedging transactions. An NDF is a contract where there is no physical settlement of two currencies at maturity. Rather, based on the movement of the currencies and the contractually agreed-upon exchange rate, a net cash settlement will be made by one party to the other in U.S. dollars.
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 Inc. (the “Index Provider” or “MSCI”), which is independent of the Fund and BFA. The Index Provider determines the composition and relative weightings of the securities and currency forwards 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.
HEWW - Performance
Return Ranking - Trailing
| Period | HEWW Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -84.6% | 23.0% | 58.72% |
| 1 Yr | N/A | -90.6% | 103.3% | 42.34% |
| 3 Yr | N/A* | -77.9% | 20.6% | 88.99% |
| 5 Yr | N/A* | -59.5% | 14.1% | 89.47% |
| 10 Yr | N/A* | -36.5% | 13.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | HEWW Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -98.9% | 112.8% | 54.63% |
| 2022 | N/A | -13.3% | 20.1% | 89.81% |
| 2021 | N/A | -13.5% | 12.6% | 59.41% |
| 2020 | N/A | -6.5% | 19.7% | 97.75% |
| 2019 | N/A | -11.5% | 5.8% | 84.27% |
Total Return Ranking - Trailing
| Period | HEWW Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -84.6% | 23.0% | 60.55% |
| 1 Yr | N/A | -90.6% | 103.3% | 42.34% |
| 3 Yr | N/A* | -77.9% | 20.6% | 88.99% |
| 5 Yr | N/A* | -59.5% | 14.1% | 89.47% |
| 10 Yr | N/A* | -35.7% | 13.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HEWW Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -98.9% | 112.8% | 51.85% |
| 2022 | N/A | -13.3% | 20.1% | 89.81% |
| 2021 | N/A | -13.5% | 12.6% | 59.41% |
| 2020 | N/A | -6.5% | 19.7% | 97.75% |
| 2019 | N/A | -11.5% | 5.9% | 84.27% |
HEWW - Holdings
Concentration Analysis
| HEWW | Category Low | Category High | HEWW % Rank | |
|---|---|---|---|---|
| Net Assets | 700 K | 718 K | 6.75 B | 100.00% |
| Number of Holdings | 4 | 13 | 873 | 45.22% |
| Net Assets in Top 10 | 712 K | 464 K | 3.17 B | 100.00% |
| Weighting of Top 10 | 99.95% | 10.1% | 100.0% | 26.96% |
Top 10 Holdings
- iShares MSCI Mexico ETF 101.55%
- PURCHASED MXN / SOLD USD 0.01%
- PURCHASED USD / SOLD MXN -0.04%
- PURCHASED USD / SOLD MXN -1.57%
Asset Allocation
| Weighting | Return Low | Return High | HEWW % Rank | |
|---|---|---|---|---|
| Stocks | 101.55% | 0.00% | 102.00% | 26.96% |
| Cash | 0.05% | -2.00% | 100.00% | 72.17% |
| Preferred Stocks | 0.00% | 0.00% | 1.75% | 80.00% |
| Convertible Bonds | 0.00% | 0.00% | 0.30% | 81.74% |
| Bonds | 0.00% | 0.00% | 3.75% | 79.13% |
| Other | -1.59% | -7.90% | 31.19% | 84.35% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HEWW % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 40.46% | 94.59% |
| Technology | 0.00% | 0.00% | 44.58% | 95.50% |
| Real Estate | 0.00% | 0.00% | 34.46% | 26.13% |
| Industrials | 0.00% | 0.00% | 39.81% | 45.95% |
| Healthcare | 0.00% | 0.00% | 37.68% | 65.77% |
| Financial Services | 0.00% | 0.00% | 64.45% | 72.07% |
| Energy | 0.00% | 0.00% | 51.00% | 96.40% |
| Communication Services | 0.00% | 0.00% | 26.06% | 3.60% |
| Consumer Defense | 0.00% | 0.00% | 30.04% | 0.90% |
| Consumer Cyclical | 0.00% | 0.00% | 34.93% | 81.98% |
| Basic Materials | 0.00% | 0.00% | 50.50% | 31.53% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HEWW % Rank | |
|---|---|---|---|---|
| US | 101.55% | 0.00% | 49.47% | 84.35% |
| Non US | 0.00% | 0.00% | 102.00% | 20.87% |
HEWW - Expenses
Operational Fees
| HEWW Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | N/A | 0.01% | 2.49% | 62.04% |
| Management Fee | N/A | 0.00% | 1.35% | 71.30% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.08% | 0.15% | N/A |
Sales Fees
| HEWW Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| HEWW 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.
| HEWW Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 3.00% | 217.50% | 69.31% |
HEWW - Distributions
Dividend Yield Analysis
| HEWW | Category Low | Category High | HEWW % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 18.68% | 87.50% |
Dividend Distribution Analysis
| HEWW | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Semi-Annually | Annually |
Net Income Ratio Analysis
| HEWW | Category Low | Category High | HEWW % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -4.11% | 6.59% | 63.16% |
Capital Gain Distribution Analysis
| HEWW | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 09, 2021 | $0.201 | OrdinaryDividend |
| Dec 31, 2020 | $0.133 | OrdinaryDividend |
| Jul 09, 2020 | $0.052 | OrdinaryDividend |
| Dec 31, 2019 | $0.221 | OrdinaryDividend |
| Jul 09, 2019 | $0.377 | OrdinaryDividend |
| Jan 04, 2019 | $0.077 | OrdinaryDividend |
| Jul 10, 2018 | $0.332 | OrdinaryDividend |
| Dec 08, 2017 | $0.202 | OrdinaryDividend |
| Jul 12, 2017 | $0.269 | OrdinaryDividend |
| Jan 04, 2017 | $0.057 | OrdinaryDividend |
| Jul 12, 2016 | $0.534 | OrdinaryDividend |
| Jan 04, 2016 | $0.177 | OrdinaryDividend |
HEWW - Fund Manager Analysis
Managers
Orlando Montalvo
Start Date
Tenure
Tenure Rank
Jun 29, 2015
6.09
6.1%
Orlando Montalvo has been employed by BlackRock Fund Advisors and BTC as a senior portfolio manager since 2009. Prior to that, Mr. Montalvo was a senior portfolio manager from 2005 to 2009 for Barclays Global Fund Advisors and Barclays Global Investors, N.A.
Greg Savage
Start Date
Tenure
Tenure Rank
Jun 29, 2015
6.09
6.1%
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
Jun 29, 2015
6.09
6.1%
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.
Alan Mason
Start Date
Tenure
Tenure Rank
Apr 15, 2016
5.3
5.3%
Alan Mason is a Managing Director of BlackRock Advisors, LLC since 2009. Previously, Mr. Mason was a Managing Director of Barclays Global Investors from 2008 to 2009 and a Principal from 1996 to 2008.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 31.8 | 7.63 | 10.64 |
