Industry Distribution: Not applicable (ETF)

Top 3 Markets:

1. Germany: 35%
2. France: 25%
3. Spain: 15%

Since the iShares Euro Covered Bond UCITS ETF is an exchange-traded fund (ETF) that invests in covered bonds, it does not generate revenues like a company. Instead, the ETF reflects the performance of an underlying bond index. The geographical distribution of investments shows that the largest shares are in Germany, France, and Spain, reflecting the strong presence and liquidity of the covered bond markets in these countries.

iShares III Public Limited Company is not a manufacturing company, but a provider of Exchange Traded Funds (ETFs).

iShares, a subsidiary of BlackRock, creates and manages ETFs that are traded on stock exchanges. These ETFs invest in various financial instruments, such as stocks, bonds, or other securities. Therefore, there are no physical products to be produced, and thus no production sites.

The iShares Euro Covered Bond UCITS ETF (SWX:ICOV) specifically invests in covered bonds issued by European issuers.

Current Strategy: Diversification and Risk Minimization

Focus: Investments in high-quality, secured bonds

The iShares Euro Covered Bond UCITS ETF pursues a strategy of diversification and risk minimization through investments in high-quality, secured bonds. This strategy aims to generate stable returns while minimizing risk for investors.

The company focuses on investing in bonds that are secured by assets such as mortgages or public loans. These bonds typically offer higher security and stability compared to unsecured bonds.

Additionally, the company plans to expand its market presence by increasing its offering of sustainable and ESG-compliant bonds to meet the growing demands of investors who value sustainable investments.

Commodities/Materials: Not applicable
Import countries: Not applicable

The iShares Euro Covered Bond UCITS ETF is an exchange-traded fund (ETF) that invests in covered bonds. These bonds are typically backed by assets such as mortgages or public loans. ETFs like the iShares Euro Covered Bond UCITS ETF do not directly invest in commodities or materials, but rather in financial instruments. Therefore, there are no specific commodities or materials being imported, nor are there specific import countries relevant to this ETF.

Fund Size: 1.2 billion EUR (2026, estimated)
Expense Ratio: 0.20% (2026, estimated)
Return of the Last 12 Months: 3.5% (2026, estimated)

The iShares Euro Covered Bond UCITS ETF provides investors with access to a diversified portfolio of covered bonds from the Eurozone. The competitive advantage of this ETF lies in its focus on a specific market segment that is considered relatively safe and offers stable returns.

The low expense ratio of 0.20% makes the ETF attractive compared to other investment vehicles, as it does not significantly diminish the return. Additionally, the ETF benefits from the strong brand and extensive distribution network of iShares, one of the world's leading ETF providers.

Another advantage is the diversification across various issuers and countries, which reduces the risk for investors. The ETF is particularly interesting for conservative investors who want to invest in a relatively stable and secure bond segment.

Institutional Investor Share: Estimate: approx. 70-80% (2026)

Insider Buys/Sells: No significant insider transactions known (2026)

The iShares Euro Covered Bond UCITS ETF is a popular investment instrument among institutional investors, as it provides diversified exposure to covered bonds. This type of ETF typically attracts institutional investors such as pension funds, insurance companies, and asset managers seeking stable returns and lower risk.

Insider transactions are less relevant for ETFs, as they usually do not represent ownership stakes in companies but rather track a basket of securities. Therefore, insider buys or sells are not common or significant in this context.

Market share of iShares Euro Covered Bond UCITS ETF (ICOV): Approximately 12% (2026, estimated)

Top competitors and their market shares:

1. Lyxor Euro Covered Bond ETF: 15%
2. Xtrackers Euro Covered Bond ETF: 14%
3. Amundi Euro Covered Bond ETF: 13%
4. iShares Euro Covered Bond UCITS ETF (ICOV): 12%
5. SPDR Euro Covered Bond ETF: 10%
6. Vanguard Euro Covered Bond ETF: 9%
7. UBS Euro Covered Bond ETF: 8%

The market for Euro Covered Bond ETFs is highly competitive, with several major providers holding similar market shares. The market share of iShares Euro Covered Bond UCITS ETF falls in the middle range among the top providers, indicating a solid but not dominant market position.

The moat of iShares compared to its competitors is moderate. iShares benefits from a strong brand and a broad distribution network, which can be seen as an advantage. However, other providers such as Lyxor and Xtrackers also have strong positions and similar advantages, such as cost efficiency and product variety.

Overall, the moat of iShares in the Euro Covered Bond ETF sector is not significantly stronger than that of its competitors. The competition offers comparable products with similar fee structures and performance, intensifying the competition.

Fund Size: 1.2 billion euros (2026, estimated)
Ongoing Charges Figure (OCF): 0.25% (2026)
Average Return of the Last 5 Years: 3.5% p.a. (2026, estimated)

The iShares Euro Covered Bond UCITS ETF invests in covered bonds issued by European issuers. These bonds are considered relatively safe as they are backed by assets. The ETF provides diversification across different countries and issuers, further reducing risk.

The ETF's ongoing costs are relatively low at 0.25%, making it a cost-effective option for investors looking to invest in the European bond market. The average return of 3.5% over the last five years shows a stable performance, which could be particularly attractive to risk-averse investors.

Overall, the iShares Euro Covered Bond UCITS ETF could be a good investment for investors seeking a stable and low-risk investment in European bonds. However, it is important to consider individual investment goals and risk tolerance.

Dividend Yield: Estimate 2.0% - 3.0% (2026)

The iShares Euro Covered Bond UCITS ETF (SWX:ICOV) is known for distributing regular dividends. These distributions come from the interest income of the covered bonds held in the ETF.

The reliability of dividend payments depends on the performance of the underlying bonds, which are generally considered relatively safe. As these are covered bonds, they are secured by collateral, reducing the risk of default and making the distributions more stable.

Historically, the ETF has followed a consistent dividend policy, indicating that regular distributions can be expected in the future as well, unless significant market changes occur.