DE000A2QP4D2Ticker: BLTNIssuer: iSharesEmerging markets Bonds tracking the JP Morgan Brazilian Zero-Coupon (LTN) Bond Index, physical, sampled replication, accumulating. Share class in US dollars (USD).
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iShares Brazil LTN BRL Govt Bond UCITS ETF (DE) tracks the issuer-declared index: JP Morgan Brazilian Zero-Coupon (LTN) Bond Index. The declared annual cost (TER) is 0.35%, plus 0.28% in transaction costs estimated by the issuer in the KID. Replication is sampled physical replication (it buys a representative subset of constituents); income is accumulated and reinvested in the fund. The fund has assets of about 1.5 billion euro, was launched on 24 September 2025 and is domiciled in Germany.
The Share Class is a share class of the Fund which is a passively managed exchange traded fund (ETF) that aims to track the performance of the J.P. Morgan Brazilian Zero-Coupon (LTN) Bond Index (Index) as closely as possible.
Keep reading the KID section ▾
The Index measures the performance of eligible zero coupon (LTN) BRL-denominated government bonds. Bonds must have at least USD 1 billion face amount outstanding and greater than 1 year to maturity at inclusion to be eligible. The Index will maintain a minimum of six bonds, to achieve this, additional fixed coupon bonds may become eligible. The Index utilizes a traditional market-capitalization weighting methodology. The Index caps any security whose weight is greater than 25%, redistributing the excess across the rest of the Index on a prorata basis. The Index rebalances on the last business day of each month in accordance with the Brazilian bond market holiday calendar. In order to achieve its investment objective, the Fund mostly invests in liquid, BRL- denominated zero-coupon government bonds (LTN’s) issued by the Federative Republic of Brazil. It is not the Manager’s intention to leverage the Fund. However, the Fund may generate minimal amounts of leverage from time to time, for example, if using financial derivative instruments (FDIs) for efficient portfolio management purposes.
The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of the investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. Fixed income securities issued or guaranteed by government entities in emerging markets generally experience higher ‘Credit Risk’ than developed economies. The relationship between the return on the investment, how it is impacted and the period for which you hold the investment is considered below (see “How long should I hold it and can I take my money out early?”).
The depositary of the Fund is State Street Bank International GmbH. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the Fund. These documents are available free of charge in German, English and certain other languages. These can be found, along with other (practical) information, including prices of units, by emailing info@iShares.de or from www.ishares.com or by calling +49 (0) 89 42729 5858.
Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed on one or more Stock Exchange(s). Investors can buy or sell their shares daily during business hours through an intermediary on such Stock Exchange(s). The value of the shares is related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the shares. Indicative net asset value is published on relevant stock exchanges websites.
Intended retail investor:This Fund is intended for retail investors with basic knowledge and experience, with the ability to bear losses up to the amount invested in the Fund. This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index (see “How long should I hold it and can I take my money out early?”).
Insurance benefits:The Fund does not offer any insurance benefits.
Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.
| From the peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 08 May 2026 | 10 Jun 2026 | -6.79% | 08 Sept 2026 | 123 |
| 04 Dec 2025 | 22 Dec 2025 | -5.25% | 21 Jan 2026 | 48 |
| 27 Feb 2026 | 20 Mar 2026 | -5.00% | 08 Apr 2026 | 40 |
| 24 Sept 2025 | 14 Oct 2025 | -3.08% | 27 Oct 2025 | 33 |
| 09 Oct 2026 | 16 Oct 2026 | -2.55% | ongoing | 7 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.2 | 3.1 | -2.7 | 5.9 | -0.8 | -1.6 | 3.0 | -1.0 | 1.9 | 4.1 | 20.3 | ||
| 2025 | 0.3 | 2.3 | -2.5 | -0.2(since launch) |
| Last year | |
|---|---|
| Volatility (ann.) | 13.43% |
| Max drawdown | -5.88% |
| Sharpe | 1.68 |
| Sortino | 2.87 |
Price sensitivity to rates: the longer, the more the fund moves. What is duration →
Source: product page iShares, data as of 15 October 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.
How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.
Source: product page iShares, data as of 15 October 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.
Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.
| Exchange | Ticker | Exchange source | Registered since |
|---|---|---|---|
| Börse Hamburg | EXI6from mapping | ESMA register (FIRDS) | 30 Sept 2025 |
| Börse Hannover | EXI6from mapping | ESMA register (FIRDS) | 20 Jan 2026 |
| Börse Stuttgart | EXI6from mapping | ESMA register (FIRDS) | 30 Apr 2026 |
| Euronext Amsterdam | BLTNfrom mapping | ESMA register (FIRDS) | 17 Nov 2025 |