CRBN
iShares MSCI ACWI Low Carbon Target ETF
iShares MSCI ACWI Low Carbon Target ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the investment results of an index composed of large and mid-capitalization developed and emerging market equities with a lower carbon exposure than that of the broad market.
Global
EQUITY
Rules-Based
MANAGEMENT STYLE
20 bp
EXPENSES
$949.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2014 |
| Assets (mns) | $949 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APPLE INC | 4.5 % |
| MICROSOFT CORP | 4.1 % |
| NVIDIA CORP | 4.0 % |
| AMAZON.COM INC | 2.3 % |
| ALPHABET INC. CLASS A | 1.5 % |
| META PLATFORMS INC | 1.4 % |
| ALPHABET INC. CLASS C | 1.2 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 1.1 % |
| TESLA MOTORS INC | 1.0 % |
| BROADCOM INC. | 1.0 % |
Constituent Breakdown
| Number of holdings | 1065 |
| Herfindahl-Hirschman Index | 89 |
| Wgt avg mkt cap (mns) | $572,799 |
| Large cap (>$10bn) | 93.4% |
| Mid cap ($2-10bn) | 6.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 89.4% |
| Emerging mkts. | 10.6% |
Country Exposure
 |
UNITED STATES | 62.0 % |
 |
JAPAN | 5.4 % |
 |
BRITAIN | 3.1 % |
 |
CANADA | 3.0 % |
 |
CHINA | 2.5 % |
 |
SWITZERLAND | 2.5 % |
 |
FRANCE | 2.2 % |
 |
TAIWAN | 2.0 % |
 |
INDIA | 1.9 % |
 |
AUSTRALIA | 1.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 8.6% | 16.2% | 16.3% | 4.4% | 10.3% | -- | 9.0% | Volatility | 10.9% | 11.4% | 15.9% | 16.3% | 19.6% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 98% |
| MSCI EAFE | 0.93 | 89% |
| MSCI Emg Mkts | 0.74 | 57% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $495,936 |
Technical Indicators
| Recent close | $182.50 |
| 30d moving avg. | $186.41 |
| Annualized volatility | 17.2% |
| Relative strength (RSI) | 58 |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. CRBN |
Expenses vs. CRBN |
ALTAR Score™ vs. CRBN |
|---|---|---|---|---|
| ACWI | iShares MSCI ACWI ETF | 70.9% | +12 bp | +0.2% |
| URTH | iShares MSCI World ETF | 69.5% | +4 bp | +0.1% |
| TOK | iShares MSCI Kokusai ETF | 67.9% | +6 bp | -0.1% |
| KOKU | Xtrackers MSCI Kokusai Equity ETF | 65.9% | -11 bp | +0.1% |
| NZAC | SPDR MSCI ACWI Climate Paris Aligned ETF | 65.6% | -8 bp | -0.5% |
| VT | Vanguard Total World Stock ETF | 59.1% | -13 bp | +0.5% |
| SPGM | SPDR Portfolio MSCI Global Stock Market ETF | 58.4% | -11 bp | +0.4% |
| PBUS | Invesco MSCI USA ETF | 58.0% | -16 bp | -0.1% |
| ILCB | iShares Morningstar U.S. Equity ETF | 57.8% | -17 bp | -0.1% |
| IYY | iShares Dow Jones U.S. ETF | 57.5% | 0 bp | -0.3% |
Risk and Returns: CRBN 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 | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
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 | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
CRBN
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™
CRBN
5.3%
Cat. Avg
4.0%
Fund Category: Global
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.3% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 352 funds in the Global category, with an average ALTAR Score™
of 4.0% and a standard deviation of
4.8%. CRBN's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places CRBN in the 60th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CRBN
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Global Equity ETFs |
| # of ETFs | 191 |
| Avg. Expense Ratio | 55.4 bp |
| Std. Deviation | 17.5 bp |
| CRBN (20 bp) Percentile rank | 2 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CRBN | 20.0 | 15.4 | 35.4 |
| Peer Avg. | 42.7 | 20.5 | 63.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .