The iShares Developed Markets Property Yield UCITS ETF (IDWP) is an Ireland-domiciled equity ETF managed by BlackRock through its iShares platform and traded on the London Stock Exchange.

The fund seeks to track the FTSE EPRA Nareit Developed Dividend+ Net Index, a benchmark focused on higher-yielding listed real estate companies across developed markets.

IDWP follows a passive investment strategy and uses optimized physical replication. The fund invests directly in a selection of securities designed to closely reflect the characteristics and performance of its benchmark.

The benchmark is derived from the FTSE EPRA Nareit universe of listed real estate companies and includes businesses involved in activities such as the ownership, development, and management of income-producing real estate. The Dividend+ methodology directs exposure toward higher-yielding companies within this universe.

Composition / Exposure Profile

IDWP provides exposure to different segments of the listed real estate market, which may include:

• Residential properties.

• Retail and commercial properties.

• Office properties.

• Logistics and warehouse properties.

• Industrial properties.

• Data centers.

• Specialized properties.

• Other segments of the listed real estate market.

Geographic exposure spans developed markets across different regions, including North America, Europe, and Asia-Pacific. The fund therefore holds real estate companies and REITs exposed to different economic conditions and property market cycles.

Despite its diversification across countries and property segments, IDWP remains concentrated in a single sector. Its performance can therefore be particularly sensitive to real estate market conditions, interest rates, the availability and cost of credit, and the economic growth outlook.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. The currency used to trade shares on an exchange does not change the economic exposure of the underlying assets or, by itself, provide currency hedging.

The ETF has a total expense ratio (TER) of 0.59% per year, uses optimized physical replication, and is domiciled in Ireland. It operates as part of iShares II plc under the UCITS framework.

IDWP follows a distributing income policy, with payments made quarterly. Income generated by portfolio holdings may therefore be periodically distributed to shareholders rather than fully reinvested within the fund.

History and Evolution of the ETF

The iShares Developed Markets Property Yield UCITS ETF was launched in 2006 to provide exposure to listed real estate across developed markets through a diversified portfolio of property companies.

Since its launch, the fund has maintained a passive strategy linked to the FTSE EPRA Nareit Developed Dividend+ Net Index, tracking listed real estate companies across different developed markets.

Throughout its history, IDWP's performance has reflected factors including interest rate cycles, credit conditions, economic growth, property market dynamics, and structural changes in demand across different types of real estate.

Additional Information

iShares Developed Markets Property Yield UCITS ETF (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $1.11 billion.

Over the past 12 months, iShares Developed Markets Property Yield UCITS ETF recorded a return of -2.27%, with its price trading between $23.55 and $27.04 during the same period.

The ETF is traded under the ticker IDWP.