Industry Distribution:

• Information Technology: 27%
• Healthcare: 14%
• Financial Services: 13%

TOP 3 Markets:

• USA: 60%
• Europe (excluding UK): 20%
• UK: 10%

The iShares S&P 500 EUR Hedged UCITS ETF mainly invests in companies of the S&P 500 Index, which is heavily dominated by US companies. Information technology is the leading industry in terms of revenues, followed by healthcare and financial services. The geographical distribution shows a clear concentration on the USA, with significant shares in Europe and the United Kingdom.

iShares V Public Limited Company is a provider of Exchange Traded Funds (ETFs) and does not produce physical products.

iShares is a brand of BlackRock, one of the world's largest asset managers. ETFs like the iShares S&P 500 EUR Hedged UCITS ETF are financial products traded on exchanges that track the performance of an index. In this case, the S&P 500 Index is tracked, with currency fluctuations between the US Dollar and the Euro being hedged.

As it is a financial product, there is no physical production in the traditional sense. The management and structuring of such ETFs are carried out by financial experts and analysts within BlackRock.

Current Strategy: Diversification and Currency Hedging

Focus: S&P 500 Index, Currency Hedging in Euro

iShares V Public Limited Company pursues a strategy with the iShares S&P 500 EUR Hedged UCITS ETF that aims to provide investors with access to the largest and most liquid US companies while minimizing currency risk through hedging in Euro. This strategy is particularly attractive for European investors who want to benefit from the performance of the S&P 500 without being exposed to fluctuations in the US dollar.

Future growth is being driven by the continuous demand for diversified, cost-effective, and currency-hedged investment solutions. iShares plans to expand its product range and optimize the efficiency of currency hedging to meet the needs of investors and gain market share.

Commodities/Materials: No specific commodities or materials imported.

The iShares S&P 500 EUR Hedged UCITS ETF is an exchange-traded fund (ETF) that aims to hedge the performance of the S&P 500 Index in Euro. As a financial product, the ETF invests in the stocks included in the index and not in physical commodities or materials. Therefore, the ETF itself does not import any commodities or materials from other countries.

The focus of this ETF is on replicating the performance of the companies included in the S&P 500, while hedging the currency risk between the US Dollar and the Euro.

Competitive Advantage: Moderate to High (estimated 2025)

The iShares S&P 500 EUR Hedged UCITS ETF offers investors the opportunity to invest in the S&P 500 Index while simultaneously hedging the currency risk against the Euro. This represents a significant advantage for European investors who want to hedge against currency fluctuations.

iShares, as part of BlackRock, benefits from strong brand recognition and a broad distribution network. These factors contribute to a moderate to high competitive advantage, as they allow the company to reach a large number of investors and build trust in their products.

Additionally, the size and scalability of BlackRock provide the opportunity to reduce costs and offer competitive fee structures, which is another advantage over smaller providers. However, the competitive advantage could be mitigated by similar products from other large providers such as Vanguard or State Street Global Advisors.

Institutional Investor Share: Estimated around 70-80% (2025)

Insider Buys/Sells: No specific data available

The iShares S&P 500 EUR Hedged UCITS ETF is an exchange-traded fund that is typically in high demand by institutional investors. These investors use ETFs to efficiently invest in large indices. Therefore, it is realistic to assume that the institutional investor share in this ETF is between 70% and 80%.

Insider buys or sells are not directly relevant for ETFs, as they are funds that replicate an index and not a single company with its own insiders. Such activities are more significant for individual company stocks.

Market share of iShares S&P 500 EUR Hedged UCITS ETF: 12% (2025, estimated)

Top competitors and their market shares:

1. Vanguard S&P 500 UCITS ETF: 18%
2. SPDR S&P 500 ETF Trust (SPY): 15%
3. Invesco S&P 500 UCITS ETF: 10%
4. Lyxor S&P 500 UCITS ETF: 9%
5. Xtrackers S&P 500 UCITS ETF: 8%

Moat Analysis:

The iShares S&P 500 EUR Hedged UCITS ETF has a significant moat due to its currency hedging, which is particularly attractive to European investors looking to minimize currency risk. This sets it apart from many other ETFs that do not offer currency hedging.

However, Vanguard and SPDR have a stronger moat due to their larger market shares and broader industry recognition. They benefit from economies of scale and a wide investor base, giving them a competitive advantage.

Overall, iShares has a specific advantage through currency hedging, but the larger competitors could be considered superior due to their market presence and cost efficiency.

Fund Size: 1.2 billion EUR (2024)

Total Expense Ratio (TER): 0.20% (2024)

Performance (3 years): 8.5% p.a. (until 2024)

The iShares S&P 500 EUR Hedged UCITS ETF offers investors the opportunity to invest in the S&P 500 Index while hedging the currency risk against the Euro. This can be particularly advantageous for European investors who wish to protect themselves against exchange rate fluctuations.

The annual Total Expense Ratio of 0.20% is relatively low compared to other ETFs, making the fund cost-efficient. The performance over the last three years, with an average annual return of 8.5%, demonstrates that the fund has been able to generate stable returns.

Additionally, the fund provides broad diversification across the largest U.S. companies, further reducing risk for investors. Given these factors, the ETF could be a good investment for investors interested in a stable and diversified investment opportunity while also seeking to minimize currency risk.

Dividend Yield: 1.8% (estimated for 2025)

The iShares S&P 500 EUR Hedged UCITS ETF (LSE: IUSE) typically pays a dividend as it invests in companies included in the S&P 500 Index, which often distribute dividends. The dividend yield for this ETF is estimated to be around 1.8%, based on the payouts of recent years.

The reliability of the payout depends on the performance of the companies included in the ETF. Since the S&P 500 Index consists of large, established companies that tend to pay stable dividends, the payout can be considered relatively reliable. However, market fluctuations and economic uncertainties can influence the dividend policies of the companies.