A regular ETF typically tracks a specific index, such as the S&P 500 or MSCI World. In an actively managed ETF, the portfolio management team decides how assets are allocated — for example, across equities, bonds and different market regions. For the investor this means allocation and rebalancing are packaged into a single product.

The range may suit an investor who wants a globally diversified portfolio in a single trade, values an active allocation view and wants to outsource rebalancing. It can be a particularly interesting option if you don't want to build and maintain a portfolio of multiple ETFs yourself.

The range has three risk levels: conservative MACV, balanced MODR and growth-oriented MAGR. MACV is the most bond-heavy, MODR balances equities and bonds more evenly, and MAGR is the most equity-heavy option.

The choice should be based on how much fluctuation in value you are willing to accept and the role the fund plays in your overall portfolio.

MACV is the most conservative option. It may suit you if you want to emphasise bond investments, are looking for more moderate volatility and aren't aiming for the highest possible equity weighting. This can be a natural choice when the investment horizon is shorter or when you want a more stable core in your portfolio.

MODR is the middle option. It may suit you if you don't want to make a clear choice between equities and bonds and instead seek a balance between growth and stability. MODR can be a good starting point for an investor who wants a single, ready-made diversified solution without a very cautious or very growth-oriented tilt.

MAGR is the most growth-oriented option. It may suit you if your investment horizon is long and you accept that the value of the investment can fall meaningfully at times. A high equity weighting brings more growth potential, but also more volatility.

A simple way to think about the choice: if volatility worries you, start with a more moderate option. If you're aiming for long-term growth and can stick with the investment through weaker market periods, a more growth-oriented option may be more justified. The most important thing is to choose a risk level you can stay with — even when the market doesn't move the way you'd hoped.

The biggest difference between the funds is the weighting between equities and bonds.

MACV is the most conservative option. It emphasises bonds and is better suited to investors looking for more moderate fluctuations in value.

MODR is the balanced option. It combines equities and bonds roughly half and half, aiming for a middle ground between growth and stability.

MAGR is the most growth-oriented option. It is by far the most equity-heavy, so its value can fluctuate more, but over the long term its growth potential is also higher.

The management fee for the iShares Portfolio ETF range is 0.25% per year. It is higher than in many fully passive ETFs, but clearly lower than the typical 1.0–1.5% annual fee of traditional wealth management.

Not necessarily. If an investor is willing and able to build a globally diversified ETF portfolio themselves, a passive ETF portfolio can be cheaper. The value of an actively managed ETF comes from having the allocation, fund selection and rebalancing handled on the investor's behalf.

Funds in the iShares Portfolio ETF range invest mainly in other iShares ETFs. In practice they are ready-made ETF portfolios in which the selection and weighting of the underlying ETFs is managed actively.