iShares MSCI New Zealand ETF (3ISI)
XBER 
Summary
3ISI Chart
ENZL: Macros Are In Bad Shape, And Valuations Look Unsavory
The iShares MSCI New Zealand ETF covers 25 of the largest stocks from the MSCI New Zealand All Cap Index. ENZL's performance over the last 4 years has been largely disappointing. New Zealand's macroeconomic backdrop looks troubling, with GDP contraction and struggling services and manufacturing sectors, though further interest rate cuts may offer some relief.
iShares MSCI New Zealand ETF (3ISI) FAQ
What is the stock price today?
On which exchange is it traded?
What is its stock symbol?
Does it pay dividends? What is the current yield?
What is its market cap?
Has iShares MSCI New Zealand ETF ever had a stock split?
iShares MSCI New Zealand ETF Profile
| XBER Exchange | US Country |
Overview
The described fund is an investment vehicle that seeks to meticulously mirror the performance of a specific underlying index, which itself captures the broad spectrum of equity market segments in New Zealand, encompassing large-, mid-, and small-cap stocks. The strategic focus of this fund is to achieve investment results that correspond to both the price and yield performance of the index it tracks, before fees and expenses. By pledging to allocate at least 80% of its total assets towards purchasing the component securities of its benchmark index or other investments with similar economic characteristics, the fund ensures alignment with its investment objective. Despite its concentrated approach towards a singular geographic equity market, the fund adopts a non-diversified strategy, implying that it may invest a larger portion of its assets in fewer securities than diversified funds.
Products and Services
- Component Securities Investment
This service involves the fund investing a significant portion of its assets—no less than 80%—directly into the securities that make up its benchmark New Zealand equity market index. This method aims to closely replicate the index's performance by maintaining a portfolio that mirrors its composition.
- Investments with Economic Characteristics Identical to the Index
In addition to direct investments in the index's securities, the fund also seeks opportunities to invest in financial instruments and other investments that possess economic characteristics substantially identical to those of the securities within the underlying index. This strategy helps in enhancing the fund's alignment with the performance and risk characteristics of the New Zealand equity market.
- Market Capitalization-Weighted Index Tracking
The underlying index, characterized by its free float-adjusted market capitalization weighting, provides a comprehensive gauge of the New Zealand equity market across various capitalization segments. Through its investment strategy, the fund aims to reflect the performance of this index, accounting for the proportional influence of each constituent based on its market valuation.
- Focus on Large-, Mid-, and Small-Capitalization Segments
By aiming to invest in a range that includes large-, mid-, and small-cap stocks, the fund targets a diversified exposure within the confined geographical niche of the New Zealand equity market. This approach leverages the growth potential and risk distribution across different market capitalization levels, aiming for a balanced and representative investment portfolio.
