The calculated values may have been different if the valuation price were to have been used to calculate such values. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”).
Review the MSCI methodologies behind Sustainability Characteristics using the links below. For more information regarding a fund's investment strategy, please see the fund's prospectus. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund.
The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Other asset managers that launched bond ETFs this year include State Street, in partnership with Loomis Sayles, Harbor Capital Advisors, Columbia Threadneedle and FlexShares.Sustainability Characteristics provide investors with specific non-traditional metrics.
Rowe Price launched earlier this month - its first actively managed fixed income ETFs - which are managed by the same team as similar mutual funds. The Vanguard fund is actively managed, as are three core bond ETFs that T. The new fund will have more flexibility to invest in high-yield and emerging market bonds than Vanguard’s long-standing Core Bond Fund. “We believe this can be a possible winning alternative to broad-based debt market exposures.” Other Asset Managers Launching Bond Funds This YearīlackRock’s core bond ETF launch comes the same week that Vanguard started taking orders for a new core bond mutual fund, the Vanguard Core-Plus Bond Fund, which starts trading Oct. Andrew Ang, Head of Factor Investing Strategies at BlackRock, explained that the combination of macro and style (value and quality) “can provide distinct and complementary sources of returns.” The value factor is used to identify underpriced securities the quality factor to reveal corporate bonds with lower probabilities of default, said Ang.
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