Commodity

ROLL

iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF

  • NAV as of 20-Nov-24 USD 7.36
    52 WK: 6.86 - 7.82
  • 1 Day NAV Change as of 20-Nov-24 0.02 (0.23%)
  • NAV Total Return as of 20-Nov-24 YTD: 4.79%

Overview

WHY ROLL?

  1. Indirect exposure to a portfolio of different commodity contracts from seven different sectors.
  2. Aims to mitigate potential losses when closing a contract and opening a new one.
  3. Use to gain potential diversification benefits alongside a traditional allocation of equities and bonds.

INVESTMENT OBJECTIVE

The Fund seeks to track the performance of an index which offers indirect exposure to commodities through the use of a total return swap.

On 1st February 2022, the benchmark changed from Bloomberg Roll Select Commodity Total Return Index to Bloomberg Enhanced Roll Yield Total Return Index. The change will be reflected in the benchmark data.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.



Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realise returns that are different to the NAV performance.

Important Information: The value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. ETFs trade on exchanges like stocks and are bought and sold at market prices which may be different to the net asset values of the ETFs.

All currency hedged share classes of this fund use derivatives to hedge currency risk. The use of derivatives for a share class could pose a potential risk of contagion (also known as spill-over) to other share classes in the fund. The fund’s management company will ensure appropriate procedures are in place to minimise contagion risk to other share class. Using the drop down box directly below the name of the fund, you can view a list of all share classes in the fund – currency hedged share classes are indicated by the word “Hedged” in the name of the share class. In addition, a full list of all currency hedged share classes is available on request from the fund’s management company
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Performance

Performance

Chart

View full chart

The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in USD, hedged fund benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

This chart shows the fund's performance as the percentage loss or gain per year over the last 5 years.

  2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Total Return (%) 5.78 1.35 27.45 17.31 -3.19
Benchmark (%) 6.09 1.44 27.93 18.56 -2.60
  From
30-Sep-2019
To
30-Sep-2020		 From
30-Sep-2020
To
30-Sep-2021		 From
30-Sep-2021
To
30-Sep-2022		 From
30-Sep-2022
To
30-Sep-2023		 From
30-Sep-2023
To
30-Sep-2024
Total Return (%)

as of 30-Sep-24

-2.83 40.58 8.00 7.64 2.39
Benchmark (%)

as of 30-Sep-24

-2.79 41.08 8.99 8.45 2.68
  1y 3y 5y 10y Incept.
Total Return (%) 2.01 4.82 9.57 - 6.60
Benchmark (%) 2.42 5.45 10.06 - 7.06
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 5.05 -0.92 1.72 -1.99 2.01 15.17 57.94 - 47.56
Benchmark (%) 5.39 -0.76 1.76 -1.94 2.42 17.26 61.51 - 51.49
Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realise returns that are different to the NAV performance

The figures shown relate to past performance. Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past

Share Class and Benchmark performance displayed in USD, hedged share class benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Key Facts

Key Facts

Net Assets of Fund
as of 20-Nov-24
USD 1,333,926,446
Base Currency
USD
Benchmark Index
Bloomberg Enhanced Roll Yield Total Return Index
Shares Outstanding
as of 20-Nov-24
181,233,297
ISIN
IE00BZ1NCS44
Securities Lending Return
as of 30-Sep-24
0.00%
Product Structure
Synthetic
Methodology
Swap
Issuing Company
iShares VI plc
Administrator
State Street Fund Services (Ireland) Limited
Fiscal Year End
31 March
Fund Launch Date
28-Sep-18
Asset Class
Commodity
SFDR Classification
Other
Total Expense Ratio
0.28%
Use of Income
Accumulating
Domicile
Ireland
Rebalance Frequency
Annual
UCITS
Yes
Fund Manager
BlackRock Asset Management Ireland Limited
Custodian
State Street Custodial Services (Ireland) Limited
Bloomberg Ticker
ROLL LN

Portfolio Characteristics

Portfolio Characteristics

Benchmark Level
as of 20-Nov-24
USD 471.80
Standard Deviation (3y)
as of 31-Oct-24
13.61%
Weighted Average Swap Fee
as of 08-Jan-24
14.88
Benchmark Ticker
BERYTR
3y Beta
as of 31-Oct-24
1.005

Ratings

Registered Locations

Registered Locations

  • Austria

  • Czech Republic

  • Denmark

  • Finland

  • France

  • Germany

  • Hungary

  • Ireland

  • Italy

  • Liechtenstein

  • Luxembourg

  • Netherlands

  • Norway

  • Poland

  • Portugal

  • Saudi Arabia

  • Slovak Republic

  • Spain

  • Sweden

  • United Kingdom

Holdings

Holdings

Issuer Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Nominal ISIN Price Location Exchange Duration YTM (%) Maturity Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Effective Date
Detailed Holdings and Analytics
Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics.

Securities Lending

Securities Lending

Securities lending is an established and well regulated activity in the investment management industry. It involves the transfer of securities (such as shares or bonds) from a Lender (in this case, the iShares fund) to a third-party (the Borrower). The Borrower will give the Lender collateral (the Borrower’s pledge) in the form of shares, bonds or cash, and will also pay the Lender a fee. This fee provides additional income for the fund and thus can help to reduce the total cost of ownership of an ETF.

 

At BlackRock, securities lending is a core investment management function with dedicated trading, research and technology capabilities. The lending programme is designed to deliver superior absolute returns to clients, whilst maintaining a low risk profile. Funds participating in securities lending retain 62.5% of the income, while BlackRock receives 37.5% of the income and covers all the operational costs resulting from securities lending transactions.

  From
30-Sep-2014
To
30-Sep-2015		 From
30-Sep-2015
To
30-Sep-2016		 From
30-Sep-2016
To
30-Sep-2017		 From
30-Sep-2017
To
30-Sep-2018		 From
30-Sep-2018
To
30-Sep-2019		 From
30-Sep-2019
To
30-Sep-2020		 From
30-Sep-2020
To
30-Sep-2021		 From
30-Sep-2021
To
30-Sep-2022		 From
30-Sep-2022
To
30-Sep-2023		 From
30-Sep-2023
To
30-Sep-2024
Securities Lending Return (%) 0.02 0.00
Average on-loan (% of AUM) 29.96 18.32
Maximum on-loan (% of AUM) 54.66 29.08
Collateralisation (% of Loan) 109.48 107.05
The above table summarises the lending data available for the fund.

The information in the Lending Summary table will not be displayed for the funds that have participated in securities lending for less than 12 months. The figures shown relate to past performance. Past performance is not a reliable indication of current or future results.
BlackRock’s policy is to disclose performance information quarterly subject to a one-month delay. This means that returns from 01/01/2019 to 31/12/2019 can be publicly disclosed from 01/02/2020.

Maximum on-loan figure may increase or decrease over time.

With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.
as of 09-Oct-23
Ticker Name Asset Class Weight % ISIN SEDOL Exchange Location
Download Collateral Snapshot
Collateral Holdings shown on this page are provided on days where the fund participating in securities lending had an open loan.

The information in the Collateral Holdings table relates to securities obtained in the collateral basket under the securities lending programme for the fund in question. The information contained in this material is derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, is not necessarily all inclusive and is not guaranteed as to accuracy. Reliance upon information in this material is at the sole discretion of the reader. The primary risk in securities lending is that a borrower will default on their commitment to return lent securities while the value of the liquidated collateral does not exceed the cost of repurchasing the securities and the fund suffers a loss in respect of the short-fall.
The below table shows the Loan/Collateral Combinations and Collateral Levels for our European Lending funds.
Collateral Types
Loan Type Equities Government, Supranational and Agency Bonds Cash (Not for Reinvestment)
Equities 105%-112% 105%-106% 105%-108%
Government Bonds 110%-112% 102.5%-106% 102.5%-105%
Corporate Bonds 110%-112% 104%-106% 103.5%-105%

We also accept selected physically replicating Equity, Government Bond, Credit and Commodity ETFs as collateral.

Collateral parameters depend on the collateral and the loan combination, and the over collateralisation level may range from 102.5% to 112%. In this context, “Over Collateralisation” means that the aggregate market value of collateral taken will exceed the overall on-loan value. Collateral parameters are reviewed on an ongoing bases and are subject to change.
With securities lending there is a risk of loss should the borrower default before the securities are returned, and due to market movements, the value of collateral held has fallen and/or the value of the securities on loan has risen.

Listings

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC
London Stock Exchange ROLL USD 02-Oct-18 BF142Q5 ROLL LN ISROLL.L
London Stock Exchange ROLG GBP 02-Oct-18 BG5PZW8 ROLG LN ISROLG.L
Bolsa Mexicana De Valores ROLL MXN 10-May-22 BPG22N1 ROLLN MM -

PRIIPs Performance Scenarios

PRIIPs Performance Scenarios

The EU Packaged Retail and Insurance-Based Products Regulation (PRIIPs) prescribes the calculation methodology, and publication of the outcomes, of four hypothetical performance scenarios regarding how the product may perform under certain conditions and for such to be published on a monthly basis. The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product, which may include input from benchmark(s) / proxy, over the last ten years.
Recommended holding period : 5 years
Example Investment USD 10,000
Scenario
If you exit after 1 year
If you exit after 5 years

Minimum

There is no minimum guaranteed return. You could lose some or all of your investment.

Stress

What you might get back after costs
Average return each year
7,560 USD
-24.4%
4,510 USD
-14.7%

Unfavourable

What you might get back after costs
Average return each year
7,560 USD
-24.4%
7,230 USD
-6.3%

Moderate

What you might get back after costs
Average return each year
10,190 USD
1.9%
13,880 USD
6.8%

Favourable

What you might get back after costs
Average return each year
14,830 USD
48.3%
17,300 USD
11.6%

The stress scenario shows what you might get back in extreme market circumstances.



Literature

Literature