NEWS BITES - ETF
iShares JPMorgan USD Emerging Markets Bond Fund (NYSE:EMB), the 61st largest Exchange Traded Fund by market cap in the United States, slipped further on Friday, sliding an additional 52.0c (0.5%) to trade at $112.29. The ETF decreased 0.2% on Wednesday and 0.4% on Thursday. This brought its 3-day fall to 1.1%, compared with the Morgan Stanley Capital International USA Index [MSCI USA] which fell 221.4 points (2.36%) in the three days for a relative price increase of 1.2%. The fall was exacerbated by a cumulative 3-day volume of 1.4 times the average 3-day volume of 2.9 million units. The ETF is now approaching its 50-day low of $112.08. Its MCap is $16.7 billion.
NET ASSET VALUE release date 17 September, 2020
The Net Asset Value (NAV) of the ETF is $113.01 and it last traded at a discount of 0.636% to NAV.
| EMB | Today | 1 Day ago | Week ago | Month ago |
| Price, USD | 112.29 | 113.28 | 113.25 | 113.35 |
| NAV, USD | 113.01 | 113.06 | ||
| Price/NAV | 0.99 | 1.0 | ||
| MSCI USA | 9,174.33 | 9,267.29 | 9,204.36 | 9,344.22 |
THE PAST WEEK [Price down 0.5% to $112.81]
In the past week the ETF rose on 2 days, fell on 2 days and was untraded on 1 day.
| DAY | Headline | Close price [USD] | Price Change % | Comment |
| Sep 17 | (EMB:$112.81) falls for a second consecutive day, a two-day fall of 0.7% | 112.81 | -0.41 | Steepest Fall |
| Sep 16 | (EMB:$113.28) decreases on a firm volume | 113.28 | -0.24 | |
| Sep 15 | (EMB:$113.55) increases | 113.55 | 0.17 | Top Rise |
| Sep 14 | (EMB:$113.36) rises for a second consecutive day, a two-day rise of 0.1% | 113.36 | 0.1 |
SECTION 1
ISHARES JPMORGAN USD EMERGING MARKETS BOND FUND BEARISH SIGNALS
Technicals:
Downtrend: The ETF dropped on high volatility today.
+ The price decreased 0.8% in the last week. The fall has been exacerbated by a firm volume of 1.2 times average for the week.
+ Compared with the Morgan Stanley Capital International World Index [MSCI World] which fell 0.01% for the week, this represented a relative price decrease of 0.5% for the week.
+ The ETF's relative price strength percentile is falling at 57 for 6 months, 51 for 3 months and 39 for 1 month.
SECTION 2
ISHARES JPMORGAN USD EMERGING MARKETS BOND FUND BULLISH SIGNALS
2.1 Technicals:
+ The 2.4% discount to 12-month high of $115.10 against the 34.4% premium to 12-month low of $83.56 suggests the ETF continues to push for new highs.
+ The present value of USD1,000 (PV1000) invested ten years ago in iShares JPMorgan USD Emerging Markets Bond Fund is $1,618, for a capital gain of $618.
+ 10 years Multiplier in USD = 1.618x
+ Compound Annual Growth Rate (CAGR) in USD = 4.9%
2.2 Oversold/Bullish/Support Signals:
+ At $112.29 the price is below the lower Bollinger band support of $112.31, indicating an upside for it to return to the band.
+ The ETF is oversold according to the Williams % R indicator of -91.2, suggesting the price is close to its 14-day low of $112.08.
2.3 High Performance Indicator:
| Description | Value | Rank In Market |
| Today's Turnover | $514.5 million | In Top 5% |
SECTION 3
PRICE VOLUME DYNAMICS
3.1 Technicals:
+ Volume: there were 4,581,800 units worth $514.5 million traded today. In the past week, volume was 1.2 times average and the units were down 0.8%. The fall was exacerbated by a robust volume of 1.6 times the average daily volume of 2.9 million units.
+ The present value of $1,000 (PV1000) invested one year ago in iShares JPMorgan USD Emerging Markets Bond Fund is $1,074, comprising a capital gain of $32 and dividend reinvested of $42. A comparison with Morgan Stanley Capital International World Index [MSCI World] and Morgan Stanley Capital International USA Index [MSCI USA] is shown below:
| PV$1000 | 1-week | 1-month | 1-year |
| EMB.P | 992 | 991 | 1,074 |
| MSCI World | 1,000 | 969 | 1,076 |
| MSCI USA | 997 | 954 | 1,136 |
3.2 The Worst 3 weeks in the past quarter [Relative Price Change or RPC]
| Mon-Fri | Change % | MSCI USA Change % | RPC % | Vol Ind [1 is avg] |
| Aug 10-14 | -0.6 | 0.7 | -1.3 | 0.7 |
| Aug 24-28 | -0.2 | 3.3 | -3.5 | 0.9 |
| Sep 07-11 | -0.1 | -2.6 | 2.4 | 0.9 |
3.3 Trailing 3 months
| Turnover | $16.3 billion |
| Volume | 145,120,649 |
| Volume Index (1 is avg) | 0.8 |
3.4 Trailing Price Change %
3-Year price change for EMB was 8.2%. Compared with the Morgan Stanley Capital International World Index [MSCI World] which rose 19.1% in the 3 years, the relative price change was -10.9%.
| Price Change % | Quarter | Year | 3 Years |
| EMB | 4 | 3.2 | 8.2 |
| MSCI World | 7.2 | 7.5 | 19.1 |
3.5 MCap: 5-Year Increase of $12 billion
In the past 5 years Market Capitalization has increased by $12.3 billion (278%) from $4.4 billion to $16.8 billion. Based on a dynamic start date of 5 years ago, there has been no decline in MCap over the last 5 years.
| Close Price | MCap ($ B) | |
| Last | $112.81 | 16.8 |
| 1 Year ago | $109.22 | 15.1 |
| 2 Years ago | $96.85 | 13.7 |
| 3 Years ago | $103.75 | 12 |
| 4 Years ago | $97.66 | 9.1 |
| 5 Years ago | $87.09 | 4.4 |
3.6 Moving Annual Return of 7.1% in the past year:
Moving Annual Return was 7.1% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 10.3%. The Moving Annual Return has been positive in 4 of the last 5 years.
| EMB | Close ($) | Dividends ($) | Capital Gain / (Loss) % | % Yield | Annual Return % |
| Sep 18 | 112.29 | 4.26 | 3.2 | 3.9 | 7.1 |
| 1 Yr ago | 108.83 | 6.17 | 12.6 | 6.4 | 18.9 |
| 2 Yrs ago | 96.7 | 2.8 | (6.8) | 2.7 | (4.1) |
| 3 Yrs ago | 103.75 | 5.22 | 6.2 | 5.3 | 11.6 |
| 4 Yrs ago | 97.66 | 5.54 | 11.5 | 6.3 | 17.8 |
Close 5 years ago $87.61
3.7 Year-on-Year Comparison (Trailing year - ended 31 Jul)
In the past 5 years, EMB has jumped 29.1% from 87.58 to 113.07, an average annual compound rise of 5.2%.
| 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
| Close | 113.07 | 108.87 | 98.96 | 101.66 | 97.75 | 87.58 |
| % Price Change | -2.3 | 0.4 | 4.5 | -4.2 | 7.2 | -4.2 |
| Avg Daily Volume | 1,525,166 | 1,452,972 | 657,880 | 713,117 | 782,001 | 968,226 |
| VWP | 114.78 | 113.89 | 108.1 | 112.09 | 108.41 | 114.85 |
| Turnover Period | 3 mo | 3 mo | 4 mo | 3 mo | 2 mo | 57 d |
| Price Range | 83.81 - 115.43 | 93.98 - 109.65 | 98.26 - 105.43 | 92.24 - 102.22 | 84.56 - 98.31 | 81.85 - 90.53 |
3.8 Beta:
+ Beta: the Beta is 0.6. A Beta lower than 1 suggests this is a low risk, low return ETF with volatility less than that of the market.
SECTION 4
RANKING
4.1 Global Rank out of 5,237 ETFs
The present value of $US1,000 invested a year ago is $US1,074, ranking it 1476 out of 5,237 ETFs. Its 6-month relative strength (or price percentile rank) in USD is 57.
| Description | Value | Rank | Quartile |
| Net Assets (US$) | 12.4B | 87 | Top |
| Price/NAV | 1.0 | 1306 | Top |
| Rel Strength 6 Mo (US$) | 57 | 2260 | Second |
| PV$1000 (1Year) US$ | 1,074 | 1476 | Second |
4.2 Rank in the Total United States ETF Market [out of 1,664 ETFs]
| Description | Value | Rank |
| Rel Strength 6 Mon ($) | 49 | 855 |
| PV1000-1Year ($) | 1,074 | 573 |
SECTION 5
ANALYST RECOMMENDATION
| Date | Brokerage | Action | Current Rating | Past Rating |
| Aug 31,2020 | Morningstar, Inc. | Downgrade | 4 out of 5 | 5 out of 5 |
| Jul 31,2020 | XTF Inc. | Downgrade | 5.7 out of 10 | 5.7 out of 10 |
| Nov 11,2019 | Ned Davis Research Group | DOWNGRADE | - | - |
SECTION 6
REPORTED BUYING AND SELLING
6.1 Top 100 Institutional Holders of iShares JPMorgan USD Emerging Markets Bond Fund as at June 30, 2020
As at June 30, 2020, 559 Institutions held investments in iShares JPMorgan USD Emerging Markets Bond Fund. Institutions had decreased their holdings to 69.5% of issued capital, down from 70.08% nine months ago. The top 100 institutional shareholders held 63.6% units of iShares JPMorgan USD Emerging Markets Bond Fund. The largest shareholder was Wells Fargo & Co with 7.6% of iShares JPMorgan USD Emerging Markets Bond Fund. The second largest shareholder was UBS Group with 4.2%.
*Note: Minimum Core Shareholding is computed on the basis of SEC filings over the last 12 quarters (3 years). A higher % of shareholding above the minimum core holding may be indicative of a potential positioning by the institution to overweight.
| Institution (CIK) | ETFs | Holding % | Value $USD | Minimum Core Holding* | % Above Min Core Holding* |
| Wells Fargo & Co (0000072971) | 10,795,302 | 7.6 | 1.2 B | 6,059,711 | 78 |
| UBS Group (0001610520) | 5,955,807 | 4.2 | 645.6 M | 1,914,446 | 211 |
| Betterment (0001633901) | 4,981,237 | 3.5 | 539.9 M | 1,839,135 | 171 |
| Blackrock (0001364742) | 4,811,876 | 3.4 | 521.6 M | 4,176,143 | 15.2 |
| Citigroup (0000831001) | 4,059,258 | 2.9 | 440 M | 685,053 | 493 |
| Morgan Stanley (0000895421) | 3,565,981 | 2.5 | 386.5 M | 2,439,916 | 46.2 |
| Royal Bank of Canada (0001000275) | 3,354,065 | 2.4 | 363.6 M | 1,376,204 | 144 |
| Manufacturers Life Insurance (0000928047) | 3,300,982 | 2.3 | 357.8 M | 537,170 | 515 |
| JP Morgan Chase & Co (0000019617) | 2,852,999 | 2.0 | 309.3 M | 96,449 | 2,858 |
| Aozora Bank (0001568541) | 2,748,000 | 1.9 | 297.9 M | 928,000 | 196 |
| Wealthfront Advisers (0001763921) | 2,745,944 | 1.9 | 297.6 M | 1,698,043 | 62 |
| Municipal Employees Retirement System of Michigan (0001588873) | 2,702,315 | 1.9 | 292.9 M | 1,163,331 | 132 |
| Envestnet Asset Management (0001407543) | 2,461,705 | 1.7 | 266.8 M | 2,461,705 | 0 |
| LPL Financial (0001403438) | 2,356,686 | 1.6 | 255.5 M | 371,603 | 534 |
| Schwab Charles Investment Management (0000884546) | 2,085,501 | 1.5 | 226.1 M | 1,094,726 | 91 |
| Adventist Health System Sunbelt Healthcare (0001103139) | 1,972,036 | 1.4 | 213.8 M | 409,740 | 381 |
| SEI Investments Co (0000350894) | 1,785,860 | 1.2 | 193.6 M | 1,041,522 | 71 |
| Victory Capital Management (0001040188) | 1,558,761 | 1.1 | 169 M | 1,558,761 | 0 |
| Bank of Nova Scotia (0000009631) | 1,425,104 | 1.0 | 154.5 M | 407,777 | 249 |
| Ameriprise Financial (0000820027) | 961,441 | 0.68 | 104.2 M | 910,158 | 5.6 |
| Mirae Asset Global Investments. (0001569395) | 932,684 | 0.65 | 101.1 M | 79,686 | 1,070 |
| Bank of America (0000070858) | 928,652 | 0.65 | 100.7 M | 928,652 | 0 |
| PNC Financial Services Group (0000713676) | 732,856 | 0.51 | 79.4 M | 340,048 | 116 |
| BCJ Capital Management (0001768195) | 707,836 | 0.5 | 76.7 M | 67,295 | 952 |
| Neuberger Berman Group (0001465109) | 700,498 | 0.49 | 75.9 M | 289,127 | 142 |
| State of Wisconsin Investment Board (0000854157) | 659,166 | 0.46 | 71.5 M | 52,772 | 1,149 |
| Morningstar Investment Services (0001478215) | 645,156 | 0.45 | 69.9 M | 125,535 | 414 |
| Md Financial Management (0001724264) | 570,342 | 0.4 | 61.8 M | 489,313 | 16.6 |
| Barclays (0000312069) | 540,502 | 0.38 | 58.6 M | 10,984 | 4,821 |
| Athanor Capital (0001730574) | 522,500 | 0.37 | 56.6 M | 522,500 | 0 |
| Mitsubishi UFJ Asset Management. (0001466546) | 501,143 | 0.35 | 54.3 M | 21,572 | 2,223 |
| Savant Capital (0001482880) | 495,272 | 0.35 | 53.7 M | 481,715 | 2.8 |
| Nextcapital Advisers (0001616454) | 493,671 | 0.35 | 53.5 M | 34,536 | 1,329 |
| Mather Group (0001527641) | 485,672 | 0.34 | 52.6 M | 349,996 | 38.8 |
| Sumitomo Mitsui Trust Holdings (0001475365) | 473,702 | 0.33 | 51.3 M | 6,825 | 6,841 |
| Venturi Wealth Management (0001666363) | 468,456 | 0.33 | 50.8 M | 4,317 | 10,751 |
| Bank of New York Mellon (0001390777) | 468,191 | 0.33 | 50.7 M | 334,107 | 40.1 |
| CIBC Asset Management (0001021926) | 412,481 | 0.29 | 44.7 M | 213,314 | 93 |
| TIAA (0001711615) | 405,883 | 0.29 | 44 M | 3,151 | 12,781 |
| Thrivent Financial for Lutherans (0000314984) | 403,090 | 0.28 | 43.7 M | 31,888 | 1,164 |
| Nationwide Asset Management (0001802257) | 400,000 | 0.28 | 43.4 M | 400,000 | 0 |
| Modera Wealth Management (0001542143) | 393,040 | 0.28 | 42.6 M | 336,702 | 16.7 |
| HSBC Holdings (0000873630) | 382,833 | 0.27 | 41.5 M | 212,995 | 80 |
| AssetMark (0001344551) | 381,605 | 0.27 | 41.4 M | 205,036 | 86 |
| CI Investments (0001163648) | 362,064 | 0.25 | 39.2 M | 1,563 | 23,065 |
| TD Asset Management (0001056053) | 356,000 | 0.25 | 38.6 M | 1,863 | 19,009 |
| Deutsche Bank (0000948046) | 345,438 | 0.24 | 37.4 M | 97 | 356,022 |
| BB&T (0000092230) | 342,275 | 0.24 | 37.1 M | 2,209 | 15,395 |
| United Capital Financial Advisers (0001463217) | 327,765 | 0.23 | 35.5 M | 122,977 | 167 |
| Allianz Asset Management (0001535323) | 316,570 | 0.22 | 34.3 M | 71,120 | 345 |
| Meeder Asset Management (0000809443) | 309,255 | 0.22 | 33.5 M | 234 | 132,060 |
| Wellington Management Group (0000902219) | 304,582 | 0.21 | 33 M | 85,700 | 255 |
| SG Americas Securities (0001313360) | 297,105 | 0.21 | 32.2 M | 26,346 | 1,028 |
| Horizon Investments (0001560717) | 290,212 | 0.2 | 31.5 M | 40,202 | 622 |
| Invesco (0000914208) | 288,000 | 0.2 | 31.2 M | 4,000 | 7,100 |
| Country Trust Bank (0001209324) | 280,884 | 0.2 | 30.4 M | 48,396 | 480 |
| UBS Global Asset Management Americas (0000861177) | 258,840 | 0.18 | 28.1 M | 190,396 | 35.9 |
| Mainstreet Investment Advisors (0001729854) | 244,713 | 0.17 | 26.5 M | 244,713 | 0 |
| PineBridge Investments (0001531721) | 239,500 | 0.17 | 26 M | 190,570 | 25.7 |
| Asset Management One Co. (0001068855) | 237,995 | 0.17 | 25.8 M | 140,527 | 69 |
| 1832 Asset Management (0000944388) | 231,268 | 0.16 | 25.1 M | 227,573 | 1.6 |
| Global Financial Private Capital (0001704642) | 228,025 | 0.16 | 24.7 M | 5,438 | 4,093 |
| Citadel Advisors (0001423053) | 225,346 | 0.16 | 24.4 M | 6,288 | 3,484 |
| PFS Investments (0000354497) | 225,192 | 0.16 | 24.4 M | 19,228 | 1,071 |
| Cliftonlarsonallen Wealth Advisors (0000944361) | 216,977 | 0.15 | 23.5 M | 153,970 | 40.9 |
| Conservest Capital Advisors (0001705716) | 206,343 | 0.14 | 22.4 M | 192,438 | 7.2 |
| Employees Retirement System of Texas (0001398739) | 200,000 | 0.14 | 21.7 M | 100,000 | 100 |
| United Services Automobile Association (0001021249) | 198,376 | 0.14 | 21.5 M | 102,167 | 94 |
| Banco Santander (0000891478) | 194,943 | 0.14 | 21.1 M | 2,669 | 7,204 |
| Trustmark National Bank Trust Department (0000861176) | 192,709 | 0.14 | 20.9 M | 173,286 | 11.2 |
| Hilton Capital Management (0001541211) | 185,413 | 0.13 | 20.1 M | 435 | 42,524 |
| U.S. Bancorp (DE) (0000036104) | 177,787 | 0.12 | 19.3 M | 177,787 | 0 |
| Northern Trust (0000073124) | 176,634 | 0.12 | 19.1 M | 5,274 | 3,249 |
| Goldman Sachs Group (0000886982) | 175,813 | 0.12 | 19.1 M | 136,376 | 28.9 |
| BNP Paribas Arbitrage (0001166588) | 175,432 | 0.12 | 19 M | 43,360 | 305 |
| Stairway Partners (0001454138) | 173,538 | 0.12 | 18.8 M | 166,434 | 4.3 |
| Fukoku Mutual Life Insurance Company (0001033324) | 170,000 | 0.12 | 18.4 M | 85,000 | 100 |
| Fort Washington Investment Advisors (0001009016) | 165,046 | 0.12 | 17.9 M | 2,099 | 7,763 |
| Caxton Associates (0000872573) | 154,960 | 0.11 | 16.8 M | 89,200 | 74 |
| Indexiq Advisors (0001415996) | 146,854 | 0.1 | 15.9 M | 121,397 | 21.0 |
| AMP Capital Investors (0001535782) | 142,808 | 0.1 | 15.5 M | 142,808 | 0 |
| Credit Suisse (0000824468) | 142,039 | 0.1 | 15.4 M | 109,326 | 29.9 |
| Northcoast Asset Management (0001456227) | 133,847 | 0.09 | 14.5 M | 20,079 | 567 |
| Strategic Investment Advisors (0001760540) | 133,535 | 0.09 | 14.5 M | 58,041 | 130 |
| FDX Advisors (0001566601) | 130,500 | 0.09 | 14.1 M | 6,017 | 2,069 |
| Keybank National Association (0001089877) | 128,183 | 0.09 | 13.9 M | 128,183 | 0 |
| American Financial Advisors (0001767898) | 121,621 | 0.09 | 13.2 M | 85,800 | 41.7 |
| Coastal Capital Group (0001765054) | 121,039 | 0.08 | 13.1 M | 21,813 | 455 |
| Duality Advisers (0001741024) | 120,994 | 0.08 | 13.1 M | 120,994 | 0 |
| BLB & B Advisors (0001389059) | 118,210 | 0.08 | 12.8 M | 31,409 | 276 |
| Prudent Investors Network (0001766005) | 117,731 | 0.08 | 12.8 M | 99,002 | 18.9 |
| Raymond James Financial Services Advisors (0001462284) | 117,324 | 0.08 | 12.7 M | 96,817 | 21.2 |
| Man Group (0001637460) | 114,386 | 0.08 | 12.4 M | 7,095 | 1,512 |
| Ionic Capital Management (0001386462) | 114,152 | 0.08 | 12.4 M | 114,152 | 0 |
| Marathon Asset Management (0001279913) | 113,172 | 0.08 | 12.3 M | 113,172 | 0 |
| Versant Capital Management (0001735057) | 112,041 | 0.08 | 12.1 M | 112,041 | 0 |
| Raymond James (0001084208) | 110,505 | 0.08 | 12 M | 53,473 | 107 |
| Probity Advisors (0001676603) | 108,887 | 0.08 | 11.8 M | 63,500 | 71 |
| Pictet Asset Management (0001291274) | 107,000 | 0.08 | 11.6 M | 20,000 | 435 |
| Banque Cantonale Vaudoise (0001793755) | 106,190 | 0.07 | 11.5 M | 87,690 | 21.1 |
| Held by Top 100 | 90,622,109 | 63.58 | 9.8 billion | - | - |
6.2 Major Increases in Top 100 institutional shareholders June 30, 2020 vs March 31, 2020
Adventist Health System Sunbelt Healthcare increased their shareholding in iShares JPMorgan USD Emerging Markets Bond Fund by 1.6 million units worth USD 161.8 million. Municipal Employees Retirement System of Michigan increased their shareholding by 1.5 million units worth USD 159.4 million.
| Institution (CIK) | Increase in ETFs | Increase Value, $USD |
| Adventist Health System Sunbelt Healthcare (0001103139) | 1,562,296 | 161.8 M |
| Municipal Employees Retirement System of Michigan (0001588873) | 1,538,984 | 159.4 M |
| Betterment (0001633901) | 1,303,772 | 135 M |
| UBS Group (0001610520) | 1,238,980 | 128.3 M |
| Bank of Nova Scotia (0000009631) | 1,017,327 | 105.4 M |
| Schwab Charles Investment Management (0000884546) | 990,775 | 102.6 M |
| Citigroup (0000831001) | 976,577 | 101.1 M |
| Morgan Stanley (0000895421) | 804,728 | 83.3 M |
| Wells Fargo & Co (0000072971) | 728,074 | 75.4 M |
| Blackrock (0001364742) | 392,630 | 40.7 M |
| Thrivent Financial for Lutherans (0000314984) | 260,000 | 26.9 M |
| SEI Investments Co (0000350894) | 216,607 | 22.4 M |
| AssetMark (0001344551) | 176,569 | 18.3 M |
| State of Wisconsin Investment Board (0000854157) | 127,700 | 13.2 M |
| Sumitomo Mitsui Trust Holdings (0001475365) | 122,246 | 12.7 M |
| TIAA (0001711615) | 99,788 | 10.3 M |
| Wealthfront Advisers (0001763921) | 88,672 | 9.2 M |
| PFS Investments (0000354497) | 81,923 | 8.5 M |
| Morningstar Investment Services (0001478215) | 78,644 | 8.1 M |
| Wellington Management Group (0000902219) | 73,422 | 7.6 M |
| Nextcapital Advisers (0001616454) | 73,134 | 7.6 M |
| UBS Global Asset Management Americas (0000861177) | 68,444 | 7.1 M |
| United Capital Financial Advisers (0001463217) | 67,245 | 7 M |
| HSBC Holdings (0000873630) | 41,630 | 4.3 M |
| Goldman Sachs Group (0000886982) | 39,437 | 4.1 M |
| Mather Group (0001527641) | 34,333 | 3.6 M |
| Bank of New York Mellon (0001390777) | 27,382 | 2.8 M |
| Global Financial Private Capital (0001704642) | 26,699 | 2.8 M |
| Indexiq Advisors (0001415996) | 25,457 | 2.6 M |
| Strategic Investment Advisors (0001760540) | 18,794 | 1.9 M |
| Prudent Investors Network (0001766005) | 18,729 | 1.9 M |
| Banque Cantonale Vaudoise (0001793755) | 18,500 | 1.9 M |
| Trustmark National Bank Trust Department (0000861176) | 16,111 | 1.7 M |
| Modera Wealth Management (0001542143) | 15,848 | 1.6 M |
| Probity Advisors (0001676603) | 13,367 | 1.4 M |
| SG Americas Securities (0001313360) | 7,983 | 826,803 |
| Savant Capital (0001482880) | 5,406 | 559,902 |
| BLB & B Advisors (0001389059) | 4,898 | 507,288 |
| American Financial Advisors (0001767898) | 3,176 | 328,940 |
| Stairway Partners (0001454138) | 2,094 | 216,876 |
| Banco Santander (0000891478) | 1,953 | 202,273 |
| Coastal Capital Group (0001765054) | 724 | 74,985 |
| 1832 Asset Management (0000944388) | 337 | 34,903 |
| Total | 12,411,395 |
6.3 Major Decreases in Top 100 institutional shareholders June 30, 2020 vs March 31, 2020
JP Morgan Chase & Co reduced their shareholding in iShares JPMorgan USD Emerging Markets Bond Fund by 2.3 million units worth USD 241.5 million. Royal Bank of Canada reduced their shareholding by 1.2 million units worth USD 120.3 million.
| Institution (CIK) | Decrease in ETFs | Decrease Value, $USD |
| JP Morgan Chase & Co (0000019617) | 2,332,148 | (241.5 M) |
| Royal Bank of Canada (0001000275) | 1,161,653 | (120.3 M) |
| Aozora Bank (0001568541) | 890,000 | (92.2 M) |
| Mirae Asset Global Investments. (0001569395) | 727,584 | (75.4 M) |
| Credit Suisse (0000824468) | 494,962 | (51.3 M) |
| United Services Automobile Association (0001021249) | 423,965 | (43.9 M) |
| Bank of America (0000070858) | 382,099 | (39.6 M) |
| Manufacturers Life Insurance (0000928047) | 322,224 | (33.4 M) |
| Ameriprise Financial (0000820027) | 188,507 | (19.5 M) |
| Marathon Asset Management (0001279913) | 135,700 | (14.1 M) |
| Northcoast Asset Management (0001456227) | 129,689 | (13.4 M) |
| Pictet Asset Management (0001291274) | 102,100 | (10.6 M) |
| Neuberger Berman Group (0001465109) | 94,286 | (9.8 M) |
| CIBC Asset Management (0001021926) | 88,247 | (9.1 M) |
| Md Financial Management (0001724264) | 86,602 | (9 M) |
| Raymond James Financial Services Advisors (0001462284) | 69,809 | (7.2 M) |
| Raymond James (0001084208) | 57,109 | (5.9 M) |
| Deutsche Bank (0000948046) | 45,485 | (4.7 M) |
| U.S. Bancorp (DE) (0000036104) | 43,628 | (4.5 M) |
| LPL Financial (0001403438) | 38,212 | (4 M) |
| PNC Financial Services Group (0000713676) | 32,780 | (3.4 M) |
| BB&T (0000092230) | 17,274 | (1.8 M) |
| Ionic Capital Management (0001386462) | 15,800 | (1.6 M) |
| Keybank National Association (0001089877) | 10,883 | (1.1 M) |
| Versant Capital Management (0001735057) | 6,130 | (634,887) |
| Conservest Capital Advisors (0001705716) | 5,364 | (555,552) |
| Asset Management One Co. (0001068855) | 1,363 | (141,166) |
| Total | 7,903,603 |
6.4 New Entrants in Top 100 institutional shareholders as at June 30, 2020
| Institution (CIK) | ETFs | Value, $USD |
| Victory Capital Management (0001040188) | 1,558,761 | 169 M |
| BCJ Capital Management (0001768195) | 707,836 | 76.7 M |
| Barclays (0000312069) | 540,502 | 58.6 M |
| Athanor Capital (0001730574) | 522,500 | 56.6 M |
| Mitsubishi UFJ Asset Management. (0001466546) | 501,143 | 54.3 M |
| Venturi Wealth Management (0001666363) | 468,456 | 50.8 M |
| Nationwide Asset Management (0001802257) | 400,000 | 43.4 M |
| CI Investments (0001163648) | 362,064 | 39.2 M |
| TD Asset Management (0001056053) | 356,000 | 38.6 M |
| Allianz Asset Management (0001535323) | 316,570 | 34.3 M |
| Meeder Asset Management (0000809443) | 309,255 | 33.5 M |
| Horizon Investments (0001560717) | 290,212 | 31.5 M |
| Mainstreet Investment Advisors (0001729854) | 244,713 | 26.5 M |
| PineBridge Investments (0001531721) | 239,500 | 26 M |
| Citadel Advisors (0001423053) | 225,346 | 24.4 M |
| Cliftonlarsonallen Wealth Advisors (0000944361) | 216,977 | 23.5 M |
| Hilton Capital Management (0001541211) | 185,413 | 20.1 M |
| Northern Trust (0000073124) | 176,634 | 19.1 M |
| BNP Paribas Arbitrage (0001166588) | 175,432 | 19 M |
| Caxton Associates (0000872573) | 154,960 | 16.8 M |
| AMP Capital Investors (0001535782) | 142,808 | 15.5 M |
| FDX Advisors (0001566601) | 130,500 | 14.1 M |
| Duality Advisers (0001741024) | 120,994 | 13.1 M |
| Man Group (0001637460) | 114,386 | 12.4 M |
| Total | 8,460,962 |
6.5 Drop Outs from Top 100 institutional shareholders as at June 30, 2020
| Institution (CIK) | ETFs | Value, $USD |
| Capital Planning Advisors, LLC (0001631941) | 104,570 | 11.3 M |
| Highland Private Wealth Management (0001664772) | 104,407 | 11.3 M |
| Etrade Capital Management LLC (0001512581) | 101,997 | 11.1 M |
| Equitable Holdings, Inc. (0001333986) | 101,446 | 11 M |
| Abundance Wealth Counselors (0001767080) | 92,604 | 10 M |
| AllianceBernstein (0001109448) | 87,368 | 9.5 M |
| Sage Financial Group Inc. (0000882119) | 86,664 | 9.4 M |
| Baker Avenue Asset Management, LP (0001432529) | 86,558 | 9.4 M |
| Bernicke & Associates, Ltd (0001569863) | 85,681 | 9.3 M |
| Quattro Financial Advisors LLC (0001705929) | 85,485 | 9.3 M |
| Sumitomo Mitsui Asset Management Company, Ltd (0001411530) | 83,212 | 9 M |
| Cambridge Investment Research Advisors, Inc. (0001419186) | 81,333 | 8.8 M |
| Capital Analysts, LLC (0001624758) | 70,538 | 7.6 M |
| Boyer & Corporon Wealth Management, LLC (0001542165) | 69,418 | 7.5 M |
| CLS Investments, LLC (0001360533) | 65,654 | 7.1 M |
| Financial Enhancement Group LLC (0001641438) | 52,938 | 5.7 M |
| Dimension Capital Management Partners (0001041773) | 30,888 | 3.3 M |
| Summit Securities Group, LLC (0001531593) | 27,300 | 3 M |
| CWM, LLC (0001535847) | 6,701 | 726,354 |
| Total | 1,424,762 |
SECTION 7
PROFILE
7.1 Description
iShares JPMorgan USD Emerging Markets Bond Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the JPMorgan EMBI Global Core Index (the Index). The Index is a broad, diverse United States dollar-denominated emerging markets debt benchmark, which tracks the total return of actively traded external debt instruments in emerging market countries. The Index includes both fixed and floating-rate instruments issued by sovereign and quasi-sovereign entities from index-eligible countries. The Index in market value weighted and is rebalanced monthly on the last business day of the month. The Fund invests in a representative sample of the securities included in the Index that collectively has an investment profile similar to the Index. The Fund's investment advisor is Barclays Global Fund Advisors.
7.2 SNAPSHOT
iShares JPMorgan USD Emerging Markets Bond Fund (NYSE:EMB)
ISIN: US4642882819
| Inception Date | December 17, 2007 |
| Expense Ratio | 0.4% of average net assets |
| Category | Worldwide Bond |
| Fund Family Name | iShares |
| Index Tracked | JPMorgan EMBI Global Core Index |
| Asset Class | Bond |
7.3 Contact Details
| Website | http://us.ishares.com/product_info/fund/overview/EMB.htm |
| Physical Address | 45 Fremont Street San Francisco, CA 94105 UNITED STATES |
| Phone | (617) 937-5525 |
7.4 EMB ETF Summary
| Sep 18 close | $112.29 |
| Sep 17 NAV | $113.01 |
| Price/NAV | 0.99 |
| Ave Daily Volume | 2,871,952 units |
| 52-Week Range | 83.56 - 115.10 |
| Dividend Yield | 3.8% |
| Units Outstanding | 148,500,000 |
| No. Held by Institutions | 98,964,226 |
| % of units outstanding | 69.5% |
| Market Cap | $16.7 billion |
7.5 Fund Managers and Management Fees
+ The managers of the ETF are Teresa Kong and Lee Sterne. The management fee is 0.6% of total assets
SECTION 8
DIVIDEND
| Dividend: | 0.3 |
| Dividend Date: | August 03, 2020 |
| Dividend Yield: | 3.8% |
| Annual Dividend: | $4.26 |
SECTION 9
TOP HOLDINGS & PORTFOLIO ALLOCATION
9.1 Top Holdings (July 08, 2020)
| Holdings | Weight (%) |
| State of Kuwait 3.5% | 0.9 |
| Russian Federation 5.25% | 0.9 |
| Uruguay Republic of) 5.1% | 0.9 |
| State of Qatar 4.82% | 0.7 |
| The Republic of Peru 5.63% | 0.7 |
| State of Qatar 5.1% | 0.7 |
| Petronas Capital Limited 4.55% | 0.6 |
| Republic of Colombia 5% | 0.6 |
| The Republic of Peru 8.75% | 0.6 |
| Uruguay Republic of) 4.97% | 0.6 |
9.2 Asset Allocation (June 30, 2020)
| Asset Class | % |
| Non-U.S. Bonds | 99.1 |
| Cash | 0.9 |
9.3 Country Breakdown (June 30, 2020)
| Country | % |
| Mexico | 5.2 |
| Mexico | 5.2 |
| Indonesia | 5 |
| Indonesia | 5 |
| Saudi Arabia | 4.7 |
| Saudi Arabia | 4.6 |
| Russia | 4.5 |
| Qatar | 4.4 |
| Qatar | 4.4 |
| Russia | 4 |
| Turkey | 3.8 |
| Turkey | 3.8 |
| United Arab Emirates | 3.8 |
| Philippines | 3.7 |
| Philippines | 3.6 |
| China | 3.6 |
| China | 3.5 |
| United Arab Emirates | 3.5 |
| Colombia | 3.5 |
| Colombia | 3.4 |
| Brazil | 3.3 |
| Chile | 3 |
| Panama | 3 |
| Egypt | 2.8 |
| Peru | 2.8 |
| South Africa | 2.7 |
| Malaysia | 2.7 |
| Kazakhstan | 2.6 |
| Dominican Republic | 2.6 |
| Bahrain | 2.6 |
EMB.P
CIK: 1100663
CUSIP: 464288281
Source: www.BuySellSignals.com