RXI Fund Description

The iShares S&P Global Consumer Discretionary Sector ETF tracks a market-cap-weighted index of global consumer discretionary stocks as determined by S&P. Securities are drawn from the top 70% of world market cap.

RXI ETF.com Insight

RXI's compact basket of large- and midcap stocks provides a viable take on the global consumer discretionary market, albeit one that differs from ours. Index providers have diverse views onprovides a viable take on the global consumer discretionary market how to describe consumer stocks, so you won't find Walmart or Samsung here. The fund excludes small-caps by rule, and holds far fewer names than our benchmark (168 vs. ~1500). Geographically, the fund favors stocks from the US and Europe, and underweights those from Asia-Pacific. Given the fund's divergence from our benchmark, performance differences are no surprise: RXI shows higher market risk and generally higher returns than our benchmark. The fund can be fairly traded in retail sizes, but large investors face wider spreads from liquidity providers. RXI earns Analysts Pick for decent coverage in a relatively large and liquid wrapper given its narrow niche. (Insight updated 01/21/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/25/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

RXI (Mkt)
-0.45% 4.01% 0.05% 12.11% 14.95% 18.53% --

RXI (NAV)

-0.19% 3.87% 0.47% 12.45% 15.14% 18.78% --

S&P Global 1200 Consumer Discretionary Sector Index

-0.20% 3.74% 0.24% 12.00% 14.69% 18.64% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

RXI Top 10 Countries View All

RXI Top 10 Sectors View All

RXI Top 10 Holdings View All

RXI Summary Data

BlackRock

A company that produces and manages ETFs.

09/12/06

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.48%

The net total annual fee a fund holder pays to the issuer.

$229.43 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$1.82 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.20%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

RXI Portfolio Data

$62.64 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

19.04

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.79

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.50%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/19/14

The date on which a security's price excludes an upcoming dividend.

168

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

RXI Index Data

S&P Global 1200 Consumer Discretionary Sector Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Committee

A set of rules that the underlying index provider follows to select its constituent securities.

Thomson Reuters Global
Cyclicals

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to RXI

AXDI, IPD

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

RXI ETF.com Efficiency Insight

RXI charges 48 bps annually. It's well established having launched back in 2006, and has amassed about $265M in assets. The fund has usually offset its fee—making it essentially free to hold—by lending portfolio securities against collateral and sharing most of the net proceeds with investors. Still, there's more tracking variability than we'd like with NAV varying around the index by a range of almost 1.5%. (Insight updated 01/21/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/25/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

RXI (Mkt)
-0.45% 4.01% 0.05% 12.11% 14.95% 18.53% --

RXI (NAV)
-0.19% 3.87% 0.47% 12.45% 15.14% 18.78% --

S&P Global 1200 Consumer Discretionary Sector Index
-0.20% 3.74% 0.24% 12.00% 14.69% 18.64% --

Thomson Reuters Global Cyclicals
0.24% 4.06% 1.49% 11.16% 10.51% 14.34% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

RXI Portfolio Management

0.48%

The net annual fee a fund holder pays to the issuer.

0.83%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

1.38%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

0.27%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

RXI Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

RXI Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

75% / 25%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

RXI ETF.com Tradability Insight

RXI has modest but workable liquidity for retail orders, though trading larger blocks could be expensive. Bid/ask spreads average a respectable 20 bps. Median daily volume is about $1M, far lower than the average volume of $2M, which is buoyed by a few large trades. Those trading in size can expect relatively wide spreads from liquidity providers despite a highly liquid underlying basket. (Insight updated 01/21/2014)

Average Spread

Premium/Discount

Volume

RXI ETF.com/ Block LiquidityAs of 07/28/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of RXI. RXI is rated a 5 out of 5.

RXI Tradability

21,757

The average number of shares traded during a 60 day period.

$1.82 M

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

10,808

Median number of shares traded over the past 45 trading days.

$898.55 K

Median dollar value of shares traded over the past 45 trading days.

0.20%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.17

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.05%

The middle value in the ranked set of all premium/discount values over a 12-month period.

1.13% / -1.05%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

67.96%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

0.20

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.05%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.07%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

--

The total number of net outstanding options contracts for an ETF.

$83.43

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

RXI ETF.com Fit Insight

RXI holds a small basket of global consumer discretionary stocks with elevated market risk. The fund's basket only holds about 1/10 of our benchmark's names, which means bigger positions for the top 10 stocks, though it avoids excessive concentration. Definitional rules regarding sectors (consumer discretionary vs. consumer cyclicals) drive performance differences here—RXI has higher beta (1.09) and higher returns than our benchmark over the past 12 months. (Insight updated 01/21/2014)

RXI Geographic ExposureView All

RXI Segment Benchmark
50.97% 56.61%
15.53% 13.78%
4.05% 6.71%
5.34% 6.34%
3.88% 4.97%
1.54% 2.03%
1.86% 1.97%
1.62% 1.49%
1.46% 1.33%
13.76% 4.77%

RXI Segment Benchmark
52.51% 58.64%
19.52% 24.30%
26.06% 16.57%
1.39% 0.49%
94.06% / 5.94% 99.51% / 0.49%

RXI Performance Statistics

0.90

The degree to which the fund and its segment benchmark move up and down in unison.

1.03

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

0.97

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.02

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.15%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

Thomson Reuters Global
Cyclicals

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

RXI Benchmark Comparison

RXI
168 Holdings
Segment Benchmark
1511 Constituents
Shared Holdings
148 (Count)
 
61.51% (Weight)
RXISegment Benchmark
$50.51 B$62.64 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

66%84%
24%16%
8%0%
2%0%
19.6019.04

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.632.79

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.44%1.53%

The weighted average of the current yield on the portfolio’s holdings.

1511168

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.