Statistical copolymerization of ethylene and isoprene was achieved by using a borohydrido half-lanthanidocene complex. Under copolymerization conditions, activation of [(Cp*)(BH(4))(2)Nd(thf)(2)] (Cp*=η(5)-C(5)Me(5)) by an appropriate alkylating agent affords trans-1,4-poly-isoprene-co-ethylene. Analysis of the microstructure of the copolymer revealed the presence of successive short sequences of ethylene/ethylene, trans-1,4-isoprene/ethylene, and trans-1,4-isoprene/trans-1,4-isoprene. A small amount of 1,2-insertion of isoprene was observed, and no cyclic structures within the chain were characterized. Test runs showed that these catalysts are unable to copolymerize α-olefins (such as hex-1-ene) with isoprene. The probable initial steps in the copolymerization have been computed at the DFT level of theory. Analysis of the energy profile provides insight into the catalyst's activity and selectivity. Our theoretical results highlight the key role played by the allyl intermediate, in which diene insertion, and to a lesser extent olefin insertion, is the rate-determining step of the process. These results also illustrate the coordination behavior of the allyl ligand during the insertion of an incoming monomer, which directly inserts, after pre-coordination to the metal center, into the η(3)-allyl ligand without inducing an η(3) to η(1) haptotropic shift. Finally, the inactivity of this family of catalysts towards the copolymerization of hex-1-ene was rationalized on the basis of the free-energy profile of the copolymerization.