(KXI) iShares Global Consumer - Ratings and Ratios

KXI is a U.S.-domiciled exchange‑traded fund that tracks the MSCI ACWI Consumer Staples Index, giving investors exposure to globally diversified companies that produce essential goods such as food, beverages, household products, and personal care items.

Key performance indicators include an expense ratio of roughly 0.46%, assets under management in the range of $5 billion, and a dividend yield near 2.5% paid quarterly. The portfolio holds about 70–80 securities, with the top ten constituents—e.g., Procter & Gamble, Nestlé, Coca‑Cola, PepsiCo, Unilever, Colgate‑Palmolive, Kimberly‑Clark, Reckitt Benckiser, Mondelez, and Altria—accounting for roughly 35% of total net assets.

Fundamental drivers are the low income elasticity of demand for staple goods, which provides defensive characteristics in economic downturns, and the sector’s ability to pass inflation through pricing due to essential consumption. Global population growth, urbanization, and rising middle‑class incomes in emerging markets expand the addressable market, while commodity price volatility (e.g., agricultural inputs, packaging materials) directly impacts margins.

Macro‑economic sensitivities include real‑interest‑rate movements (which affect discount rates and dividend attractiveness), currency fluctuations (the fund is currency‑hedged only for the U.S. dollar exposure), and regulatory changes in food safety, labeling, and sustainability standards. Supply‑chain disruptions and geopolitical tensions can create short‑term pricing pressure, but the sector’s historically stable cash flows mitigate long‑term risk.

Risk metrics show a beta of ~0.68 relative to the MSCI World Index, indicating lower volatility than the broader equity market. Historical annualized returns over the past five years hover around 5‑6%, with a Sharpe ratio near 0.6, reflecting modest upside coupled with defensive downside protection.