Equity

CORO

iShares International Country Rotation Active ETF

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  • NAV as of Dec 10, 2024 $24.98
  • 1 Day NAV Change as of Dec 10, 2024 -0.24 (-%)
  • Fees as stated in the prospectus Expense Ratio: 1.08%
    Net Expense Ratio: 0.55%

Overview

Why CORO?

1. Tactically rotate international opportunities: CORO seeks to dynamically rotate across international markets through a portfolio comprised primarily of non-U.S. country ETFs.

2. Active approach: Actively managed by the BlackRock Model Portfolio Solutions team to emphasize markets they believe are well-positioned for outperformance based on forward-looking analysis.

3. Complement your core U.S. allocation: Diversify your portfolio with international exposure.

INVESTMENT OBJECTIVE

The iShares International Country Rotation Active ETF seeks long-term capital appreciation.
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Performance

Performance

Growth of Hypothetical $10,000

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The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

This fund does not have any distributions.
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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Performance data is not currently available
Performance data is not currently available
Performance data is not currently available
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

The ETF total return may appear to diverge from the return of its benchmark. This may be due to the use of systematic fair value. Click here for more information

The ETF total return is based on the ETF’s net asset value, which uses systematic fair value to price certain foreign assets as of 4:00 p.m. Eastern time (when foreign markets may be closed). The benchmark return uses local market closing prices which may differ from systematic fair value prices. This difference may result in divergence of ETF total return and benchmark return. For more information, please consult the fund’s prospectus. Institutional Non-Fair Value Impact Report

Key Facts

Key Facts

Net Assets of Fund
as of Dec 10, 2024
$5,994,840
Exchange
NASDAQ
Benchmark Index
MSCI ACWI ex-US Index
Distribution Frequency
Semi-Annual
CUSIP
09290C764
Non-FV NAV
as of Dec 10, 2024
24.98
30 Day Median Bid/Ask Spread
as of Dec 10, 2024
0.20%
Fund Launch Date
Dec 03, 2024
Asset Class
Equity
Shares Outstanding
as of Dec 10, 2024
240,000
Premium/Discount
as of Dec 10, 2024
0.13%
Closing Price
as of Dec 10, 2024
25.01
30 Day Avg. Volume
as of Dec 10, 2024
1,488.00
Daily Volume
as of Dec 10, 2024
1,881.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Dec 10, 2024
36
30 Day SEC Yield
as of -
-
Equity Beta (3y)
as of -
-
Standard Deviation (3y)
as of -
-
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. MSCI Ratings are currently unavailable for this fund.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons
as of Dec 10, 2024
0.19%
MSCI - Nuclear Weapons
as of Dec 10, 2024
0.43%
MSCI - Civilian Firearms
as of Dec 10, 2024
0.26%
MSCI - Tobacco
as of Dec 10, 2024
0.57%
MSCI - UN Global Compact Violators
as of Dec 10, 2024
0.41%
MSCI - Thermal Coal
as of Dec 10, 2024
0.99%
MSCI - Oil Sands
as of Dec 10, 2024
0.50%
Business Involvement Coverage
as of Dec 10, 2024
99.59%
Percentage of Fund not covered
as of Dec 10, 2024
0.41%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 2.06% and for Oil Sands 1.88%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Fees

Fees

as of current prospectus
Management Fee 0.55%
Acquired Fund Fees and Expenses 0.53%
Other Expenses 0.00%
Expense Ratio 1.08%
Fee Waivers 0.53%
Net Expense Ratio 0.55%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Holdings

Holdings

Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Accrual Date
Ticker Name Sector Asset Class Market Value Weight (%) Notional Value Shares CUSIP ISIN SEDOL Price Location Exchange Currency FX Rate Accrual Date
Detailed Holdings and Analytics
Holdings are subject to change.



The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Dec 10, 2024

% of Market Value

Type Fund
as of Dec 10, 2024

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product's total holdings, excluding currency holdings. Percentages do not reflect fair valuation. In some instances, percentages may reflect the location where the issuer of the securities carries out much of their business. Bonds are included in U.S. bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer.
Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Michele Freed, PhD
Michele Freed, PhD
Head of Research for US Model Portfolio Solutions (MPS)

  

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Michele Freed, PhD, is the Head of Research for US Model Portfolio Solutions (MPS) and manages the US MPS team, one of several investment teams within Multi-Asset Strategies & Solutions (MASS).

 

Prior to joining BlackRock in September 2018, Michele served as Director of Alpha Research for Rosenberg Equities, responsible for quantitative stock selection and portfolio construction research for global active equities.

 

Before Rosenberg, Michele served as Manager of Quantitative Financial Analysts at Moody’s KMV, responsible for model management of the flagship portfolio credit risk product and later for new products research for development of a CDO pricing tool.

 

Michele received a B.S. in physics from the Massachusetts Institute of Technology (MIT) and an M.S. and Ph.D. from Stanford University in mathematical finance.

Michael Gates, CFA
Michael Gates, CFA
Head of Model Portfolios Solutions, Americas, Multi-Asset Strategies & Solutions

  

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Michael Gates, CFA, is the Head of Model Portfolio Solutions in the Americas for BlackRock's Multi-Asset Strategies & Solutions group and is the lead portfolio manager for BlackRock's Target Allocation and Target Income Series of Managed Portfolios.

 

Michael’s service with BlackRock dates back to 2009, where he served as part of the Multi-Asset Strategies group, as well as BlackRock's Global Trading group. From 1999 to 2009, Michael worked for Barclays Global Investors (BGI), which merged with BlackRock in 2009, in a variety of research roles, focused on fixed income and alternative investment strategies. Previously Michael worked as an analyst responsible for equity risk models at Barra.

 

Michael earned his M.S. in Economics from the University of California, Davis, and a B.S., with honors, from the University of California, Davis.

Lisa O'Connor, CFA
Lisa O'Connor, CFA
Global Head of Model Portfolio Solutions and the Deputy CIO for Solutions
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Lisa O'Connor, Managing Director, is the Global Head of Model Portfolio Solutions and the Deputy CIO for Solutions. The Multi-Asset Strategies & Solutions (MASS) team is the investment group at the heart of BlackRock's portfolio construction, asset allocation, and active management ecosystem. MASS draws on the full toolkit of BlackRock's index, factor, and alpha-seeking investment capabilities to deliver precise investment outcomes and cutting-edge alpha insights. MASS constructs active asset allocation strategies and whole portfolio solutions across a wide spectrum of commingled funds, separate accounts, model portfolios, and outsourcing solutions in the wealth and institutional channels.

 

Prior to joining BlackRock in April 2017 - Ms. O'Connor served as the Head of Global Portfolio Management for SSGA's Global Macro fund. The fund utilized both proprietary quantitative and fundamental strategies for alpha generation.

 

Before SSGA - Ms. O'Connor was at Mellon Capital Management for fourteen years where she worked extensively in the development and management of quantitative investment strategies. Her last role at Mellon Capital was leading the active fixed income team, with investment strategies ranging from hedge funds to actively managed ETFs. She served as a Senior Portfolio Manager for both the Mellon Global Opportunity Hedge Fund and the Mellon Global Fixed Income Hedge Fund. Ms. O'Connor was named one of the 50 leading women in hedge funds by the Hedge Fund Journal in 2015.

Jonathan Adams, PhD
Jonathan Adams, PhD
Senior Portfolio Manager within Multi-Asset Strategies and Solutions

  

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Jonathan Adams, PhD, Director, is a Senior Portfolio Manager within Multi-Asset Strategies & Solutions.

 

The Multi-Asset Strategies & Solutions (MASS) team is the investment group at the heart of BlackRock's portfolio construction, asset allocation, and active management ecosystem. MASS draws on the full toolkit of BlackRock's index, factor, and alpha-seeking investment capabilities to deliver precise investment outcomes and cutting-edge alpha insights. MASS constructs active asset allocation strategies and whole portfolio solutions across a wide spectrum of commingled funds, separate accounts, model portfolios, and outsourcing solutions in the wealth and institutional channels.

 

As a member of the MASS Portfolio Management team, Dr Adams is responsible for physical equity portfolios and sub-strategies within MASS, including ESG portfolios based on Blackrock Sustainable Investing (BSI) strategies, SIMBA and LCTR.  Previously he was a portfolio manager within BlackRock's ETF and Index Investments (EII) Portfolio Management group. Dr Adams's service with the firm dates back to 2011 when he joined Blackrock's Risk and Quantitative Analysis (RQA) group assuming responsibility for risk monitoring of EMEA Index Funds. Dr Adams came to Blackrock from State Street Global Advisors (SSGA) where he was responsible for risk management of quantitative active, enhanced & index equity, and multi-asset class funds. Previously, Dr Adams worked at SunGard APT, firstly as a consultant then later moving into model and analytics research.

 

Dr. Adams earned a BA in physics from Reed College and a PhD in physics from the University of Washington.

Literature

Literature

 

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