There are numerous other factors related to the markets in general or the implementation of any specific investment strategy, which cannot be fully accounted for the in the preparation of simulated results and all of which can adversely affect actual results. 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. The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains.
Sustainability Characteristics
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. At least once each year, the Fund will distribute all net taxable income to investors. These distributions will either be paid in cash or reinvested in the Fund, as may be determined by BlackRock Asset Management Canada Limited from time to time. These distributions will consist primarily of distributions received from the securities held within the Fund less Fund expenses, plus any realized capital gains generated from securities transactions within the Fund. In general, the values shown for an asset’s percentage weight (the “calculated value”) are based on a price provided by a third-party pricing vendor and do not reflect the impact of fair valuation, if applicable (the “vendor price”).
The Score also considers ESG Rating trend of holdings and the fund exposure to holdings in the laggard category. MSCI rates underlying holdings according to their exposure to industry specific ESG risks and their ability to manage those risks relative to peers. For further details regarding MSCI’s methodology, see footnote 1 at the bottom of the page. †† The exact tax treatment of the distributions for a calendar year is calculated after the Fund’s tax year-end. As a result, investors will receive an official tax statement from their broker detailing the type of income they have to report for tax purposes for the entire year and not for each distribution.
Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments. Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as failing to comply with the United Nations Global Compact Principles. For further details regarding MSCI’s methodology, see footnote 5 at the bottom of the page. Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as producing tobacco products.
Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. In general, the values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based on a price provided by a third-party pricing vendor and do not reflect the impact of fair valuation, if applicable (the “vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining the Fund’s net asset value (the “valuation price”), and the calculated values may have been different if the valuation price were to have been used to calculate such values. Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement.
MSCI – Controversial Weapons
For further details regarding MSCI’s methodology, see footnote 4 at the bottom of the page. BlackRock expressly disclaims any and all implied warranties, including without limitation, warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose. The ITR metric estimates a fund’s alignment with the Paris Agreement temperature goal based on acredibility assessment of stated decarbonization targets. The ITR metric is not a real time estimate and may change over time, therefore it is prone to variance and may not always reflect a current estimate. The ITR metric is used to provide an indication of alignment to the temperature goal of the Paris Agreement for a company or a portfolio. ITR employs open source 1.55° C decarbonization pathways derived from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS).
Holdings
For further details regarding MSCI’s methodology, see footnote 1 at the bottom of the page. BlackRock Canada is providing access through iShares.ca to the websites of the online brokerage firms listed above; however, BlackRock Canada is not offering to sell iShares ETFs. Canadian investors may only purchase or trade iShares ETFs through IIROC registered dealers, including the online brokerage firms listed above. BlackRock Canada does not pay or receive any compensation from the online brokerage firms listed above for any purchases or trades of iShares ETFs or for investors who choose to open an online brokerage account.
MSCI – UN Global Compact Violators
The characterization of distributions for tax purposes (such as dividends, other income, capital gains etc.) for each period will be reported only after the Fund’s tax year end. Therefore, the above table showing the tax characteristics will be updated only once each tax year. For tax purposes, these amounts will be reported by brokers on official tax statements. Percentage sum of issuers within the fund that have been identified by MSCI ESG Research as having controversial weapons involvement including cluster munitions, landmines, depleted uranium weapons, biological/chemical weapons, blinding lasers, non-detectable fragments and incendiary weapons. For further details regarding MSCI’s methodology, see footnote 4 at the bottom of the page. The MSCI Weighted Average Carbon Intensity measures a fund’s exposure to carbon intensive companies.
This analysis can provide insight into the effective management and long-term financial prospects of a fund. Sustainability Characteristics and Business Involvement metrics are updated monthly, subject to the availability of data. Sustainability Characteristics do not evaluate the ESG-related investment objectives of, or any ESG strategies used by, a fund and are not indicative of how well ESG factors are integrated by a fund. Providers other than MSCI ESG Research may also prepare ESG ratings or scores using their own methodologies, which may be different than the methodology used by MSCI ESG Research.
- The Score also considers ESG Rating trend of holdings and the fund exposure to holdings in the laggard category.
- In general, the values shown for an asset’s percentage weight (the “calculated value”) are based on a price provided by a third-party pricing vendor and do not reflect the impact of fair valuation, if applicable (the “vendor price”).
- If emissions in the global economy followed the same trend as the emissions of companies within the fund’s portfolio, global temperatures would ultimately rise within this band.
- Neither MSCI ESG Research nor any Information Party makes any representations or express or implied warranties (which are expressly disclaimed), nor shall they incur liability for any errors or omissions in the Information, or for any damages related thereto.
- The MSCI Weighted Average Carbon Intensity measures a fund’s exposure to carbon intensive companies.
BlackRock Asset Management Canada Limited is not affiliated with the companies listed above. As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Since 1999, we’ve been a leading provider of financial technology, and our clients turn to xmv price us for the solutions they need when planning for their most important goals. To address climate change, many of the world’s major countries have signed the Paris Agreement.
Unlike an actual performance record, simulated results do not represent actual performance and are generally prepared with the benefit of hindsight. There are frequently differences between simulated performance results and the actual results subsequently achieved by any particular fund. In addition, since trades have not actually been executed, simulated results cannot account for the impact of certain market risks such as lack of liquidity.
This figure represents the estimated greenhouse gas emissions per $1 million in sales across the fund’s holdings. For further details regarding MSCI’s methodology, see footnote 2 at the bottom of the page. The MSCI ESG Quality Score (0 – 10) for funds is calculated using the weighted average of the ESG scores of fund holdings.
Percentage of Fund not covered
- Importantly, an ITR metric may vary meaningfully across data providers for a variety of reasons due to methodological choices (e.g., differences in time horizons, the scope(s) of emissions included and portfolio aggregation calculations).
- Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics.
- In general, the values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based on a price provided by a third-party pricing vendor and do not reflect the impact of fair valuation, if applicable (the “vendor price”).
- These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities.
A summary explanation of MSCI’s methodology and assumptions for its ITR metric can be found here.
As a result of the risks and limitations inherent in hypothetical performance data, hypothetical results may differ from actual performance. Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics.
The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund.