The iShares MSCI ACWI UCITS ETF (ISAC) is an Ireland-domiciled equity ETF managed by BlackRock. ISAC is the ticker for the fund's U.S. dollar listing on the London Stock Exchange.

The fund seeks to track the MSCI All Country World Index (MSCI ACWI), a benchmark comprising large- and mid-cap companies across developed and emerging markets and providing broad exposure to the global equity market.

ISAC follows a passive investment strategy and uses optimized physical replication. The portfolio therefore holds a selection of securities designed to closely replicate the characteristics and performance of its benchmark without necessarily holding every stock included in the index.

The MSCI ACWI covers companies across both developed and emerging markets and represents approximately 85% of the global investable equity opportunity set.

Composition / Exposure Profile

ISAC provides exposure to a broad range of sectors across the global economy, including:

• Information technology.

• Financials.

• Health care.

• Consumer discretionary.

• Communication services.

• Industrials.

• Consumer staples.

• Energy.

• Materials.

• Utilities.

Geographic exposure spans developed and emerging markets across North America, Europe, Asia, and other regions. The United States represents a significant portion of the index due to the size of its equity market, while countries such as Japan, the United Kingdom, Canada, France, Switzerland, Germany, China, India, and Taiwan can also be represented in the portfolio.

Because the index is weighted by free float-adjusted market capitalization, allocations across countries, sectors, and individual companies evolve with changes in their respective market values. The fund therefore reflects shifts in the relative importance of different regions and industries within the global equity market.

The inclusion of emerging markets expands ISAC's investment universe beyond indexes limited to developed economies. This exposure can also introduce risks related to economic, political, regulatory, currency, and liquidity conditions in emerging markets.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. On the London Stock Exchange, the USD listing trades under ISAC, while the same accumulating share class trades in GBP under SSAC. Other exchanges use different tickers and trading currencies.

The ETF has a total expense ratio (TER) of 0.20% per year, uses optimized physical replication, and is domiciled in Ireland under the UCITS framework. It is part of iShares V plc and is managed by BlackRock Asset Management Ireland Limited.

ISAC follows an accumulating income policy. Dividends and other income received from portfolio companies are reinvested within the fund rather than periodically distributed to shareholders.

History and Evolution of the ETF

The iShares MSCI ACWI UCITS ETF (ISAC) was launched in 2011 to provide broad exposure to developed and emerging equity markets through a single portfolio.

Since its launch, the fund has maintained a passive strategy linked to the MSCI ACWI, reflecting changes in the relative representation of companies, sectors, countries, and regions across the global equity market.

Throughout its history, the fund's performance has reflected global equity-market cycles and changes in the composition of the world economy, including the expansion of different industries, shifts in monetary and economic conditions, and changes in the relative weight of developed and emerging markets.

Additional Information

iShares MSCI ACWI UCITS ETF (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $12.81 billion.

Over the past 12 months, iShares MSCI ACWI UCITS ETF recorded a return of -, with its price trading between $103.88 and $125.52 during the same period.

The ETF is traded under the ticker ISAC.