ETF Evaluator:
iShares USD Green Bond ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Global Bond-USD Hedged Over the Last Year
| 3.5% | JPMorgan International Bond Opps ETF (JPIB) |
| 3.3% | iShares Global Govt Bd USD Hdg Act ETF (GGOV) |
| 3.3% | Dimensional Global Credit ETF (DGCB) |
| 3.2% | Avantis Credit ETF (AVGB) |
| 3.1% | Dimensional Global Core Pls Fxd Inc ETF (DFGP) |
Risk
Index
Risk
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ETF Details
iShares USD Green Bond ETF Overview
iShares USD Green Bond ETF (BGRN) is a passively managed Taxable Bond Global Bond-USD Hedged exchange-traded fund (ETF). iShares launched the ETF in 2018.
The investment seeks to track the investment results of the Bloomberg MSCI USD Green Bond Select Index composed of U.S. dollar-denominated investment-grade green bonds that are issued by U.S. and non‑U.S. issuers to fund environmental projects.
The fund seeks to track the investment results of the underlying index, which measures the performance of U.S. dollar-denominated investment-grade green bonds issued by U.S. and non‑U.S. issuers to fund projects with direct environmental benefits.
About iShares USD Green Bond ETF (BGRN)
There are 3 members of the management team with an average tenure of 2.47 years: James Mauro (2021), Jonathan Graves (2025) and Marcus Tom (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100% and Bloomberg MSCI USD Green Bd Sel TR USD index with a weighting of 100%. iShares USD Green Bond ETF has 321 securities in its portfolio. The top 10 holdings constitute 12.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
iShares USD Green Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. iShares USD Green Bond ETF has 58.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 95.0% (36.2% domestic bond, 58.8% foreign bond and 0.0% convertible bond). iShares USD Green Bond ETF has 5.0% of the portfolio in cash.
Assets Under Management
The fund has $500 million in total assets, which is below the $7 billion average for the Global Bond-USD Hedged category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BGRN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares USD Green Bond ETF expense ratio is below average compared to funds in the Global Bond-USD Hedged category. iShares USD Green Bond ETF has an expense ratio of 0.20%, which is 13% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares USD Green Bond ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 28% for the Global Bond-USD Hedged category.
Recently, in the month of July 2026, iShares USD Green Bond ETF returned -0.9%, which earned it a grade of B, as the Global Bond-USD Hedged category had an average return of -1.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares USD Green Bond ETF has a trailing yield of 4.33%, which is above the 4.09% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares USD Green Bond ETF Grades
Year to date, the ETF has returned -0.1%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.8% over the past year (grade of C), 4.5% over the past three years (grade of A) and 0.0% per year over the past five years (grade of D).
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BGRN Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BGRN Return (NAV) | -0.9% | -0.3% | 2.8% | 4.5% | 0.0% | na |
| BGRN Return (Price) | -1.0% | -0.3% | 2.8% | 4.4% | -0.0% | na |
| NAV +/- Price Return | 0.020% | 0.006% | -0.011% | 0.132% | 0.031% | na |
| Global Bond-USD Hedged Avg | -1.1% | 0.3% | 2.4% | 4.3% | 0.6% | 1.7% |
| BGRN Grade (NAV) | B | F | C | A | D | na |
| +/- Category (NAV) | 0.1% | -0.6% | 0.4% | 0.3% | -0.6% | na |
| BGRN Tax-Cost Ratio | na | na | 1.7% | 1.7% | 1.4% | na |
BGRN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BGRN Return (NAV) | -0.1% | 7.2% | 3.0% | 6.5% | -13.0% | -2.5% | 6.5% | 9.3% | na | na | na |
| BGRN Return (Price) | -0.2% | 7.3% | 2.8% | 6.5% | -13.1% | -2.8% | 6.9% | 9.7% | na | na | na |
| NAV +/- Price Ret | 0.531% | 0.017% | -0.066% | -0.003% | 0.006% | 0.099% | 0.051% | 3.8% | na | na | na |
| Global Bond-USD Hedged Avg | 0.5% | 5.0% | 3.6% | 7.8% | -10.5% | -1.7% | 4.9% | 8.7% | 1.4% | 2.5% | 4.8% |
| BGRN Grade (NAV) | F | A | D | F | F | F | A | B | na | na | na |
| +/- Category | -0.6% | 2.2% | -0.6% | -1.3% | -2.5% | -0.9% | 1.6% | 0.6% | na | na | na |
| Risk Measures | |
| Beta: | 0.78 |
| R-Squared: | 98% |
| Standard Deviation: | 4.4% |
| Category Risk Index: | 1.06 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.36 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.3% |
| Total Assets: | $ 501 Mil |
| Share Class Assets: | $ 501 Mil |
| Turnover: | 15.0% |
| Expense Ratio: | 0.20% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Universal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.4 years | |||
| Average Tenure: 2.5 years | |||
| Managers (Year): Mauro James (2021), Graves Jonathan (2025), Tom Marcus (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 321 |
| % in Top 10 Holdings: | 12.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 58.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 36.2% |
| Foreign Bond: | 58.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | au.ishares.com |
| Inception Date: | November 13, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.20% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.23% |
