BECO

BlackRock Future Climate and Sustainable Economy ETF

BECO is an actively managed portfolio of globally-listed companies that are selected for lower carbon footprint.


Active, Semi-Diverse

MANAGEMENT MATRIX

GSFP

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorBlackrock
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateAug 03, 2021
Assets (mns)$3
Expense ratio70 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
Distributions
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
NEXTERA ENERGY GROUP 3.2 %
AVERY DENNISON CORP 3.2 %
SALMAR ASA 3.0 %
DSM-FIRMENICH AG 3.0 %
REPUBLIC SERVICES INC 3.0 %
ECOLAB INC 2.9 %
VESTAS WIND SYSTEMS A/S 2.7 %
AG GROWTH INTERNATIONAL INC 2.7 %
EDP RENOVAVEIS SA 2.6 %
WASTE MANAGEMENT INC 2.6 %
Constituent Breakdown
Number of holdings64
Herfindahl-Hirschman Index 191
Wgt avg mkt cap (mns)$34,297
Large cap (>$10bn)75.5%
Mid cap ($2-10bn)17.8%
Small cap (<$2bn)6.8%
Developed mkts.96.2%
Emerging mkts.3.8%
Country Exposure
UNITED STATES 40.6 %
SWITZERLAND 7.7 %
CANADA 6.3 %
IRELAND 5.8 %
FRANCE 5.4 %
GERMANY 3.9 %
NORWAY 3.0 %
BRITAIN 2.9 %
DENMARK 2.8 %
JAPAN 2.7 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 0.1% -2.8% -- -- -- -6.7%
Market Correlations
versus...BetaR-squared
S&P 5001.1494%
MSCI EAFE1.1190%
MSCI Emg Mkts0.8553%
Liquidity Measures
Avg. volume (000)1
Turnover0.7%
Avg. Bid/Ask (% of price)0.28%
ADV of underlying (mns)$8,608
Technical Indicators
Recent close$21.32
30d moving avg.$19.76
Annualized volatility22.4%
Relative strength (RSI)73
Short interest (ETF)0.0%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: BECO vs. Comps (1 YR)

Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.4 17.7 2.4 1.9% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
BECO



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

BECO

13.3%

Cat. Avg

3.6%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™13.3%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 340 funds in the Global Equities category, with an average ALTAR Score™ of 3.6% and a standard deviation of 4.7%. BECO's ALTAR Score™ is approximately 2.1 standard deviations above the category average. This places BECO in the 98th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
BECO
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
BECO 70.0 28.4 98.4
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.