iShares MSCI World ex Australia Momentum ETF

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/106798-2024-04-04-02:29.pdf
FUND MANAGER BlackRock Investment Management (Australia)

The Fund seeks to achieve its objective by tracking the performance of the MSCI World ex Australia Momentum Index


The Fund aims to provide investors with the performance of an
index, before fees and expenses

BENCHMARK MSCI World ex Australia Momentum Net Index
FUND SIZE MSCI World ex Australia Momentum Net Index
FEES 0.25%



Benefits of iShares

iShares ETFs are managed funds listed or quoted on exchanges
(including ASX and Cboe) providing you with the opportunity to gain exposure to a diversified portfolio of assets in a single transaction.
The significant benefits of investing in the Funds include:
► low-cost access to diversified portfolios of international
► access to market capitalisation weighted, minimum volatility
and multifactor exposures; and
► currency hedged options, to seek to minimise the impact of
Australian dollar volatility on investor returns.
Other benefits of investing in iShares ETFs generally include:
► Diversification: In contrast to a direct investment in a single
company or bond, an iShares ETF provides, as far as possible
and practicable, exposure to all of the securities or instruments
within the index that the particular iShares ETF seeks to track.
► Access global markets: iShares ETFs let you achieve
international diversification by investing in overseas equity
and bond markets. With iShares ETFs you can gain exposure by
asset class, market capitalisation, country and sector.
► Liquidity and transparency: Each iShares ETF seeks investment
results that correspond generally to the performance (before
fees and expenses) of a particular index. As a traded security,
an iShares ETF enables you to enter and exit your holding on
the ASX or Cboe. You can easily track performance and trade
during ASX and Cboe trading hours (subject to relevant ASX
and Cboe rules).
► Managing risk: Investing in an iShares ETF can assist you in
establishing a portfolio appropriate to your investment needs
and risk profile.
► Lower cost: As each iShares ETF is passively managed and
designed to track the performance of a particular index, the
expenses of managing an iShares ETF are generally lower
compared to other forms of retail managed funds. However,
brokerage or adviser fees may still apply when buying or selling
units of an iShares ETF.
► Receipt of income: You will generally receive income from your
investment in the form of distributions. Distributions may
include dividends, coupons and other income. There may be
years in which no distributions are made.
► Accessibility: iShares ETFs can offer a cost-effective way to gain exposure to a diversified portfolio of securities. They can be
less costly than purchasing a large number of individual
securities as there are less trading costs and they offer lower
thresholds than an investor might otherwise be able to afford.


This product is likely to be appropriate for a consumer:
► who is seeking capital growth
► using the product for a major allocation of their portfolio
or less
► with a minimum investment timeframe of 5 years, and
► with a high to very high risk/return profile



Key Features

MSCI is the provider of the index for the iShares Core MSCI World Ex Australia ESG ETF, iShares Core MSCI World Ex Australia ESG (AUD Hedged) ETF, iShares MSCI World ex Australia Minimum Volatility ETF, iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF, iShares MSCI Japan ETF, iShares MSCI South Korea ETF, iShares MSCI World ex Australia Quality ETF, iShares MSCI World ex Australia Value ETF,
iShares MSCI World ex Australia Momentum ETF, iShares MSCI World ex Australia Quality (AUD Hedged) ETF and iShares MSCI World ex Australia Value (AUD Hedged) ETF. MSCI is not a related body corporate of BlackRock.

The Parent Index for the iShares MSCI World ex Australia Minimum Volatility ETF, iShares MSCI South Korea ETF, iShares MSCI World ex Australia Quality ETF, iShares MSCI World ex Australia Value ETF, iShares MSCI World ex Australia Momentum ETF, iShares MSCI World ex Australia Quality (AUD Hedged) ETF and iShares MSCI World ex Australia Value (AUD Hedged) ETF is based on the GIMI Methodology. The GIMI Methodology provides a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalisation size, sector and style segments and combinations.


This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability.

The GIMI Methodology requires that indexes be constructed in
accordance with the following steps: defining the equity universe; determining the market investable equity universe; determining market capitalisation size-segments; applying Index continuity rules; and classifying securities under the GICS®.

Additionally, the methodology screens securities with consideration to MSCI’s market and security eligibility criteria, including, but not limited to minimum size, free floatadjusted market capitalisation, liquidity and length of trading requirements. 

Further details regarding the Index of the aforementioned Funds,
including index methodology, governance and details of the Models, is available on the index provider’s website at


The Index aims to reflect the performance characteristics of a subset of
large and mid-cap securities within the MSCI World ex Australia Index
(“Parent Index”) which are selected for their high price momentum
characteristics when compared to peers. To construct the Index, the
momentum score of each security in the Parent Index is calculated
based on a combination of 6 month and 12 month price momentum,
adjusted for volatility. High Momentum companies tend to continue
their high price performance over the near term, typically over a 6 -12-
month period.
Securities are then ranked based on their momentum score with Index
weights calculated based on the Momentum Weight: Risk Adjusted
Momentum Score * Market Capitalization Weight in the Parent Index.
To ensure diversification and mitigate concentration risk in the Index,
as at each rebalance date, the maximum issuer weight is capped at 5%.
Construction of the Index is done using a fixed number of securities with
the aim of ensuring a high exposure to the momentum factor is attained
while maintaining sufficient index market capitalization and number of
securities coverage.
The Index rebalances semi‐annually in May and November. The Index
may undergo conditional rebalances at other times. Refer to the section
of this PDS titled “Additional information about the Index” for further