LEMBiShares J.P. Morgan EM Local Currency Bond ETF
LEMB Fund Description
LEMB tracks a market-value weighted index of sovereign debt denominated in issuers' local currencies, with limits on country exposure.
LEMB Factset Analytics Insight
LEMB charges a relatively high fee to access the local-currency emerging-market sovereign debt space. LEMB targets investment-grade, fixed-rate, bullet-maturity EM sovereign bonds denominated in local currencies, with remaining maturity of 13 months or greater. The index further imposes a 15% cap and 4.5% floor on country exposure in order to achieve greater diversification. Since LEMB holds debts denominated in local currencies without currency hedges, investors must also consider FX volatilities. LEMB is a solid option for those looking for a broad and diversified exposure to EM sovereign debt denominated in local currencies. Secondary liquidity is decent, if not great, for retail traders, who will find plenty of daily volume but with significant trading spreads. Liquidity providers are likely to charge a premium for executing block trades in order to offset the high cost of hedging the underlying portfolio, which is primarily traded outside of the US and denominated in various foreign currencies. LEMB changed its underlying index from the Bloomberg Barclays Emerging Markets Broad Local Currency Bond Index to the J.P. Morgan GBI-EM Global Diversified 15% Cap 4.5% Floor Index on 6/1/2017. The change affects country membership in the index.
LEMB MSCI ESG Analytics Insight
iShares J.P. Morgan EM Local Currency Bond ETF has an MSCI ESG Fund Rating of BBB based on a score of 4.41 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. iShares J.P. Morgan EM Local Currency Bond ETF ranks in the 18th percentile within its peer group and in the 57th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
LEMB Summary Data
LEMB Portfolio Data
LEMB Index Data
LEMB Portfolio Management
LEMB Tax Exposures
LEMB Fund Structure
LEMB Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of LEMB. LEMB is rated a N/A out of 5.