iShares FinTech Active ETF
BPAY
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- iShares FinTech Active ETF (BPAY) is an actively managed exchange-traded fund that seeks to maximize total return by investing primarily in global companies delivering innovative and emerging technologies used in the financial services industry, including payment systems, banking, investments, lending, insurance, and software; at least 25% of assets are allocated to financials and information technology sectors such as IT services, thrifts and mortgage finance, consumer finance, capital markets, and diversified financial services; the fund may invest in non-U.S. firms via American Depositary Receipts (ADRs), use derivatives for hedging or return enhancement, and during defensive periods allocate up to 100% to liquid short-term investments. Top holdings as of recent reports include Circle Internet Group Inc., Robinhood Markets Inc., Charles Schwab Corp., Block Inc., PayPal Holdings Inc., Capital One Financial Corp., Nu Holdings Ltd., Global Payments Inc., eToro Group Ltd., and Coinbase Global Inc., with approximately 40-48 holdings reflecting a non-diversified portfolio concentrated in U.S. (around 69%), United Kingdom, Euro Zone, Latin America, and other regions. The ETF trades on NYSE Arca, targets institutional and retail investors seeking exposure to fintech innovation and digital transformation in payments, lending, and digital banking, and is domiciled in the United States with a net expense ratio of 0.55%-0.70%. Launched on August 16, 2022, and managed by BlackRock Fund Advisors as part of the iShares family under BlackRock, Inc., which maintains its global headquarters in New York, New York. Recent developments include a portfolio manager addition with Hashim Bhattee joining Vasco Moreno effective July 9, 2024; a name alignment prior to October 10, 2024, from BlackRock Future Financial and Technology ETF to the current iShares FinTech Active ETF branding; and ongoing active adjustments such as portfolio turnover of 58% and new holding inclusions like Circle Internet Group amid fintech sector shifts.