iShares USD Green Bond ETF
BGRN
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- iShares USD Green Bond ETF (BGRN) is an exchange-traded fund that seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade green bonds issued by U.S. and non-U.S. issuers to fund environmental projects. Launched on November 13, 2018, and domiciled in the United States, the ETF is issued by BlackRock Institutional Trust Company, N.A., with management by BlackRock Fund Advisors, and lists primarily on the NASDAQ exchange. The fund offers investors exposure to a diversified portfolio of approximately 335 holdings across corporate bonds (67.09%), government-related bonds (21.90%), and government bonds (7.46%), with top issuers including the European Investment Bank, Hong Kong Special Administrative Region, GACI First Investment Co., and KfW; it maintains a net expense ratio of 0.20%, monthly dividend distributions, and total net assets exceeding $433 million. The ETF targets institutional and retail investors focused on sustainable fixed-income strategies within the global bond-USD hedged category, emphasizing green bonds aligned with environmental sustainability goals as evaluated by MSCI ESG Research and the Green Bond Principles. Geographically, holdings span U.S. (36.58% U.S. bonds) and non-U.S. issuers (59.87% non-U.S. bonds), funding projects addressing climate change and environmental outcomes across regions including Europe, Asia, and the Americas. It is available for sale in markets such as the United States and Mexico, with additional listings on the Santiago Stock Exchange since April 2022. In recent developments, the fund added Jonathan Graves and Marcus Tom as portfolio managers effective August 1, 2025, alongside James Mauro, reflecting ongoing enhancements to its management team. Institutional ownership has expanded, with 113 holders controlling nearly 6 million shares as of mid-2025, marking a 6.85% increase quarter-over-quarter, driven by demand for sustainable investing amid positive performance outlooks. Assets under management grew to approximately $433 million, supported by steady inflows and the ETF's above-average Morningstar Process Pillar rating, underscoring no major structural changes such as acquisitions, rebranding, or index shifts in the last 1-2 years.