iShares Gold Strategy ETF
Data updated: 2024-09-27
C000198135 — iShares Gold Strategy ETF. Commodity · $47.82M AUM · 0.25% expense ratio · 22.7% 1-yr return. Holdings, fees, performance and SEC filings.
C000198135 Fund Overview
iShares Gold Strategy ETF is a US ETF managed by iShares U.S. ETF Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: iShares U.S. ETF Trust
- Category: Commodity
- Assets under management: $47.82M
- 1-year return: 22.7%
- SEC CIK: 0001524513
- SEC series ID: S000061161
- Share class ID: C000198135
C000198135 Investment Objective and Strategy
iShares Gold Strategy ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by iShares U.S. ETF Trust.
Investment objective
The iShares Gold Strategy ETF (the “Fund”) seeks to provide exposure, on a total return basis, to the price performance of gold.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing primarily in a combination of (i) exchange-traded gold futures contracts and other exchange-traded or over-the-counter (OTC) derivatives (i.e., forward contracts, futures, options and swaps) that correlate to the investment returns of physical gold, based on the notional value of such derivative instruments; and (ii) exchange-traded products (ETPs) backed by or linked to physical gold, which may include the iShares Gold Trust (the Gold Trust) ((i) and (ii) together, the Gold Investments). The Fund may invest up to 20% of the Funds assets in OTC derivatives. In seeking total return, the Fund additionally aims to generate interest income and capital appreciation through a cash management strategy consisting primarily of cash and cash equivalents and short-term government obligations (collectively, Fixed-Income Investments).
The Fund is an actively managed exchange-traded fund (ETF) and does not seek to replicate the performance of a specified index. While the Fund is not an index fund, the Funds investment strategy related to the Gold Investments seeks to maximize correlation with the Bloomberg Composite Gold Index (the Bloomberg Benchmark), which is comprised of exchange-traded gold futures contracts and one or more ETPs backed by or linked to physical gold. The Bloomberg Benchmark is designed to track the price performance of gold. Although the Fund generally holds, among other instruments, the same futures contracts under the same futures rolling schedule, and the same ETPs backed by or linked to physical gold, as those included in the Bloomberg Benchmark, the Fund is not obligated to invest in any such futures contracts or ETPs included in, and does not seek to track the performance of, the Bloomberg Benchmark.
The ETPs held by the Fund may invest in physical gold bullion or OTC or exchange-traded derivatives on gold bullion, such as forward contracts, futures, options and swaps. The ETPs held by the Fund may be sponsored by an affiliate of BFA or by an unaffiliated entity, and may be structured as, among others, exchange-traded commodities that track the price of gold or exchange-traded notes with interest and/or principal payments linked to the price of gold. The Fund seeks to gain exposure to the Gold Investments by investing through a wholly-owned subsidiary organized in the Cayman Islands (the Subsidiary). The Subsidiary is advised by BFA and has the same investment objective as the Fund. Unlike the Fund, the Subsidiary is not an investment company registered under the Investment Company Act of 1940, as amended (the 1940 Act).
The Subsidiary invests solely in the Gold Investments and cash and cash equivalents. In compliance with Sub-Chapter M of the Internal Revenue Code of 1986, as amended (the Internal Revenue Code), the Fund may invest up to 25% of its total assets in the Subsidiary. The Funds Gold Investments held in the Subsidiary are intended to provide the Fund with exposure to the gold market consistent with current U.S. federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in the Gold Investments. The remainder of the Funds assets will be invested directly by the Fund, primarily in Fixed-Income Investments, including repurchase agreements, money market instruments, U.S. government and agency securities, treasury inflation-protected securities and sovereign debt obligations of non-U.S.
countries. The Fund invests in Fixed-Income Investments for investment purposes and to collateralize the Subsidiarys investments in derivatives. The Commodity Futures Trading Commission (CFTC) has adopted certain requirements that subject registered investment companies and their advisers to regulation by the CFTC if a registered investment company invests more than a prescribed level of its net asset value in CFTC-regulated futures, options and swaps, or if a registered investment company markets itself as providing investment exposure to such instruments. Due to the Fund's potential use of CFTC-regulated futures, options and swaps above the prescribed levels, it is considered a commodity pool under the Commodity Exchange Act (CEA).
C000198135 Holdings
Top 10 holdings of iShares Gold Strategy ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Blackrock Cash Funds Treasury Sl Agency Shares | 69.94% |
| iShares Gold Trust | 18.54% |
| Ionic Funding LLC | 1.25% |
| Commodities Exchange Center | 1.16% |
| Marubeni Finance America LLC | 0.84% |
| Fiserv Inc | 0.79% |
| Victory Receivables Corp | 0.63% |
| VW Credit Inc | 0.61% |
| Bank Of America | 0.56% |
| Sumitomo Mitsui Bank Ny | 0.52% |
C000198135 Portfolio Allocation
Asset-class allocation of iShares Gold Strategy ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 75.7% |
| Equity | 18.5% |
| Derivatives | 1.2% |
C000198135 Performance
Total returns for C000198135 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 22.7% |
| 3 years (annualised) | 9.5% |
| 5 years (annualised) | 9.9% |
C000198135 Risk Information
Risk metrics for C000198135, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.8%
C000198135 Costs and Fees
C000198135 costs about $25 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.25%
- Gross expense ratio: 0.32%
- Portfolio turnover: 101%
- Brokerage commissions: 2.36 bps of average net assets (SEC N-CEN)
C000198135 Cashflows
Over the 12 months to 2024-07, iShares Gold Strategy ETF had net outflows of $607.78K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-07 | $3.23M |
| 2024-06 | $0 |
| 2024-05 | −$6.09M |
| 2024-04 | $12.33M |
| 2024-03 | $0 |
| 2024-02 | −$2.66M |
C000198135 Debt Constituents
No individual debt constituents are reported in iShares Gold Strategy ETF's latest SEC N-PORT filing.
C000198135 Prospectus and SEC Filings
Official iShares Gold Strategy ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-23
- Prospectus (485BPOS) — filed 2023-02-23
- Prospectus supplement (497) — filed 2024-03-01
- Portfolio holdings (N-PORT) — filed 2024-09-27
- Portfolio holdings (N-PORT) — filed 2024-06-27
- Portfolio holdings (N-PORT) — filed 2024-03-27
- Annual census (N-CEN) — filed 2024-01-12
- Annual census (N-CEN) — filed 2023-01-13
Related Funds
Other Commodity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.