BECO
BlackRock Future Climate and Sustainable Economy ETF
BECO is an actively managed portfolio of globally-listed companies that are selected for lower carbon footprint.
Global
EQUITY
Active
MANAGEMENT STYLE
3.1 M
ASSETS UNDER MGMT
70 bp
EXPENSES
Fund Basics
| Fund sponsor | Blackrock |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 03, 2021 |
| Assets (mns) | $3 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| DSM-FIRMENICH AG | 3.3 % |
| ECOLAB INC | 3.2 % |
| AG GROWTH INTERNATIONAL INC | 3.1 % |
| NEXTERA ENERGY GROUP | 2.9 % |
| SYMRISE AG | 2.9 % |
| AVERY DENNISON CORP | 2.9 % |
| EDP RENOVAVEIS SA | 2.9 % |
| SSE PLC | 2.7 % |
| NATIONAL GRID PLC | 2.6 % |
| KERRY GROUP PLC-A | 2.5 % |
Constituent Breakdown
| Number of holdings | 65 |
| Herfindahl-Hirschman Index | 203 |
| Wgt avg mkt cap (mns) | $35,442 |
| Large cap (>$10bn) | 74.8% |
| Mid cap ($2-10bn) | 13.7% |
| Small cap (<$2bn) | 7.4% |
| Developed mkts. | 96.8% |
| Emerging mkts. | 3.2% |
Country Exposure
 |
UNITED STATES | 39.9 % |
 |
IRELAND | 10.0 % |
 |
CANADA | 8.3 % |
 |
BRITAIN | 6.7 % |
 |
SWITZERLAND | 6.6 % |
 |
JAPAN | 3.3 % |
 |
FRANCE | 3.3 % |
 |
GERMANY | 2.9 % |
 |
SPAIN | 2.9 % |
 |
NORWAY | 2.5 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 128.1% | 114.2% | 76.6% | 62.7% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.07 | 83% |
| MSCI EAFE | 1.13 | 90% |
| MSCI Emg Mkts | 0.86 | 52% |
Liquidity Measures
| Avg. volume (000) | 0 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.28% |
| ADV of underlying (mns) | $9,336 |
Technical Indicators
| Recent close | $20.71 |
| 30d moving avg. | $19.66 |
| Annualized volatility | 21.5% |
| Relative strength (RSI) | 8 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. BECO |
Expenses vs. BECO |
ALTAR Score™ vs. BECO |
|---|---|---|---|---|
| TEMP | JPMorgan Climate Change Solutions ETF | 25.7% | -21 bp | -6.8% |
| GSFP | Goldman Sachs Future Planet Equity ETF | 23.7% | +5 bp | -8.1% |
| SOLR | Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund | 17.7% | +9 bp | -7.1% |
| OCEN | IQ Clean Oceans ETF | 17.4% | -25 bp | -6.3% |
| NBCT | Neuberger Berman Carbon Transition Infrastructure ETF | 17.1% | -15 bp | -9.0% |
| GCLN | Goldman Sachs Bloomberg Clean Energy Equity ETF | 14.5% | -25 bp | -6.7% |
| VCLN | Virtus Duff & Phelps Clean Energy ETF | 14.3% | -11 bp | -8.6% |
| BLLD | JPMorgan Sustainable Infrastructure ETF | 14.3% | -21 bp | -6.5% |
| BNE | Blue Horizon BNE ETF | 13.3% | +17 bp | -7.8% |
| NETZ | TCW Transform Systems ETF | 12.8% | +5 bp | -8.7% |
Risk and Returns: BECO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 8/28/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
BECO
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
BECO
12.5%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 374 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.8%. BECO's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places BECO in the 96th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
BECOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| BECO (70 bp) Percentile rank | 48 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| BECO | 70.0 | 28.4 | 98.4 |
| Peer Avg. | 51.4 | 32.7 | 84.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .