BlackRock Large Cap Core ETF (BLCR)

ETF BlackRock Large Cap Core ETF (IVV) Overview

Profile: BlackRock Large Cap Core ETF (IVV) is a passively managed exchange-traded fund that tracks the performance of the S&P 500, a broad market index representing large-cap U.S. stocks (companies with market capitalizations above $10 billion). This ETF offers investors broad exposure to the U.S. stock market with a low expense ratio and high liquidity.

Objective: The primary investment goal of IVV is to replicate the S&P 500's performance (minus fees and expenses) as closely as possible.

Issuer:

• Reputation and Reliability: BlackRock, the world's largest asset manager with $8.59 trillion in assets under management (AUM) as of June 30, 2023, sponsors and manages IVV. BlackRock has a strong reputation for its investment expertise and robust track record.
• Management: The iShares Core S&P 500 team, led by portfolio managers Stephen Cohen and Andrew Slimmon, manages IVV. Both have extensive experience in managing large-cap equity portfolios.

Market Share: IVV holds the largest market share in the U.S. large-cap core ETF category, with $470.14 billion in AUM as of November 16, 2023, representing a 33.49% market share.

Total Net Assets: As of November 16, 2023, IVV has $470.14 billion in total net assets.

Moat:

• Low Expense Ratio: IVV's expense ratio is 0.03%, one of the lowest in its category, making it an attractive option for cost-conscious investors.
• Liquidity: With an average daily trading volume of over 100 million shares, IVV offers high liquidity, ensuring easy buying and selling.
• Reputation of the Issuer: BlackRock's strong reputation and expertise provide investors with confidence in IVV's management and performance.

Financial Performance:

• Historical Performance: Since its inception in January 1993, IVV has closely tracked the S&P 500's performance, generating an annualized return of 10.31% (as of November 16, 2023).
• Benchmark Comparison: IVV's performance has consistently tracked the S&P 500 with minimal tracking error, demonstrating its effectiveness in replicating its benchmark.

Growth Trajectory: IVV's growth trajectory mirrors the overall U.S. stock market's performance. The ETF is expected to continue growing as the U.S. economy expands and corporate profits increase.

Liquidity:

• Average Trading Volume: Over 100 million shares traded daily on average, indicating high liquidity.
• Bid-Ask Spread: The bid-ask spread is typically tight, ensuring low trading costs.

Market Dynamics: Factors influencing the ETF's market environment include:

• Economic Growth: Strong economic growth can drive stock prices higher, benefiting IVV.
• Interest Rates: Rising interest rates can make stocks less attractive, potentially impacting IVV's performance.
• Geopolitical Events: Global events can create volatility and impact the market, affecting IVV's performance.

Competitors: Key competitors in the large-cap core ETF category include:

• Vanguard S&P 500 ETF (VOO)
• iShares CORE S&P 500 (IVV)
• SPDR S&P 500 ETF Trust (SPY)

Expense Ratio: IVV's expense ratio is 0.03%.

Investment approach and strategy:

• Strategy: IVV passively tracks the S&P 500, replicating its performance by holding all the index's stocks in the same proportion.
• Composition: The ETF holds approximately 500 large-cap U.S. stocks representing various sectors, including technology, healthcare, financials, and consumer discretionary.

Key Points:

• Low-cost, tax-efficient way to gain broad exposure to the U.S. stock market.
• High liquidity and tight bid-ask spread ensure easy trading.
• Strong track record of closely tracking the S&P 500's performance.

Risks:

• Market Risk: IVV's performance is directly tied to the S&P 500's performance. A decline in the overall market could lead to losses for IVV investors.
• Volatility: The stock market can be volatile, resulting in fluctuations in IVV's price.
• Sector Concentration: IVV's sector allocation mirrors the S&P 500, which