Fixed Income

BINC

iShares Flexible Income Active ETF ACTIVE

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  • NAV as of 11/Jul/2025 USD 52.40
    52 WK: 51.13 - 53.39
  • 1 Day NAV Change as of 11/Jul/2025 -0.07 (-0.14%)
  • NAV Total Return as of 11/Jul/2025 YTD: 3.73%
  • Fees as stated in the prospectus Expense Ratio: 0.52%
    Net Expense Ratio: 0.40%

Overview

Why BINC?

1. Income: nimble multisector approach that seeks to maximize income

 

2. Direct access: to harder-to-reach fixed income sectors through an experienced investment team led by Rick Rieder, Morningstar’s 2023 Outstanding Portfolio Manager*

 

3. Cost effective: low cost, active fixed income solution


*Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, was granted the 2023 Morningstar Award for Investing Excellence: Outstanding Portfolio Manager. https://newsroom.morningstar.com/newsroom/news-archive/press-release-details/2023/Winners-Announced-for-2023-U.S.-Morningstar-Awards-for-Investing-Excellence/default.aspx

INVESTMENT OBJECTIVE

The iShares Flexible Income Active ETF seeks to maximize long-term income by primarily investing in debt and income-producing securities with a secondary objective of capital appreciation.

Important Information: Capital at Risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

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Performance

Performance

Chart

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The figures shown relate to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy.

Share Class and Benchmark performance displayed in USD, hedged fund benchmark performance is displayed in USD.

Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. Performance data is based on the net asset value (NAV) of the ETF which may not be the same as the market price of the ETF. Individual shareholders may realize returns that are different to the NAV performance.

The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. Source: Blackrock

Distributions

Record Date Ex-Date Payable Date
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Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return on Capital

This chart shows the product's performance as the percentage loss or gain per year over the last 1 years.

  2020 2021 2022 2023 2024
Total Return (%) 6.1
Benchmark (%) 2.0
  From
30/Jun/2020
To
30/Jun/2021		 From
30/Jun/2021
To
30/Jun/2022		 From
30/Jun/2022
To
30/Jun/2023		 From
30/Jun/2023
To
30/Jun/2024		 From
30/Jun/2024
To
30/Jun/2025
Total Return (%)

as of 30/Jun/2025

- - - 8.49 7.94
Benchmark (%)

as of 30/Jun/2025

- - - 3.47 6.51
  1y 3y 5y 10y Incept.
Total Return (%) 7.94 - - - 8.27
Benchmark (%) 6.51 - - - 4.88
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 3.87 1.29 2.28 3.87 7.94 - - - 18.32
Benchmark (%) 4.10 1.56 1.40 4.10 6.51 - - - 10.61
Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

Key Facts

Key Facts

Net Assets of Fund
as of 11/Jul/2025
USD 10’138’575’365
Exchange
NYSE Arca
Benchmark Index
BBG U.S. Universal Index (USD)
Premium/Discount
as of 11/Jul/2025
0.22%
Volume - 1d
as of 11/Jul/2025
2’089’438.00
Fund Launch Date
19/May/2023
Asset Class
Fixed Income
Distribution Frequency
Monthly
CUSIP
092528603

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of 11/Jul/2025
3’333
12 Month Trailing Dividend Distribution Yield
as of 10/Jul/2025
6.38%
Weighted Av YTM
as of 11/Jul/2025
5.85%
Weighted Avg Maturity
as of 11/Jul/2025
4.77 yrs
Convexity
as of 11/Jul/2025
-0.71
Equity Beta (3y)
as of -
-
Standard Deviation (3y)
as of -
-
Weighted Avg Coupon
as of 11/Jul/2025
5.58
Effective Duration
as of 11/Jul/2025
3.70
Option Adjusted Spread
as of 11/Jul/2025
194.74

Fees

Fees

as of current prospectus
Management Fee 0.50
Acquired Fund Fees and Expenses 0.02
Foreign Taxes and Other Expenses 0.00
Gross Expense Ratio 0.52
Fee Waivers 0.12
Net Expense Ratio 0.40

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - SILVER
Morningstar has awarded the Fund a Silver medal. (Effective 31/May/2025)
Analyst-Driven % as of 31/May/2025
55.00
Data Coverage % as of 31/May/2025
88.00

Registered Locations

Registered Locations

Holdings

Holdings

as of 11/Jul/2025
Issuer Weight (%)
UNIFORM MBS 12.10
ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF 2.17
SPAIN (KINGDOM OF) 1.46
IRELAND (GOVERNMENT) 1.10
SOUTH AFRICA (REPUBLIC OF) 0.75
Issuer Weight (%)
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT) 0.60
ITALY (REPUBLIC OF) 0.60
BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT) 0.50
FRANCE (REPUBLIC OF) 0.47
POLAND (REPUBLIC OF) 0.43
Issuer Ticker Name Type Sector Asset Class Market Value Weight (%) Notional Value Nominal Par Value CUSIP ISIN SEDOL Price Location Exchange Currency Duration YTM (%) FX Rate Maturity Coupon (%) Mod. Duration Yield to Call (%) Yield to Worst (%) Real Duration Real YTM (%) Market Currency Accrual Date Effective Date Strike price
Download Holdings
Detailed Holdings and Analytics contains detailed portfolio holdings information and select analytics. * Where the fund holds futures or swaps, initial margin is reflected in the Cash Collateral USD UBSFT account. The daily variation margin is included in the fund’s USD Cash, and/or Money Market accounts. Both the USD Cash and Money Market accounts may also hold cash from normal portfolio activities.


The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Notional value represents the portfolio's exposures based on the economic value of investments and options are delta-adjusted. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

“Quantity” represents the number of shares, units or contracts of the corresponding security, as applicable per security type.

The “SYNTH” included in the Holdings table above are swaptions held by the Fund.

Exposure Breakdowns

Exposure Breakdowns

as of 11/Jul/2025

% of Market Value

Type Fund
as of 11/Jul/2025

% of Market Value

Type Fund
Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product’s total holdings. However, in some instances it can reflect the location where the issuer of the securities carries out much of their business.
as of 11/Jul/2025

% of Market Value

Type Fund
The maturity breakdown above is based on Weighted Average Life (WAL). WAL is the average length of time to the repayment of principal for the securities in the fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

as of 11/Jul/2025

% of Market Value

Type Fund
Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

Listings

Listings

Exchange Ticker Currency Listing Date SEDOL Bloomberg Ticker RIC
NYSE Arca BINC USD 23/May/2023 - - -
Santiago Stock Exchange BINCCL CLP 06/May/2024 BLDCHG4 BINCCL BINCCL.SN
Santiago Stock Exchange BINC USD 06/May/2024 BLDCH75 BINC BINC.SN

Portfolio Managers

Portfolio Managers

Rick Rieder
Rick Rieder
Managing Director, CIO of Global Fixed Income

  

Read More

Rick Rieder, Managing Director, is BlackRock's Chief Investment Officer of Global Fixed Income, Head of the Fundamental Fixed Income business, and Head of the Global Allocation Investment Team. Mr. Rieder is responsible for roughly $2.4 trillion in assets. He is a member of BlackRock’s Executive Sub-Committee on Investments, a member of BlackRock's Global Operating Committee, and Chairman of the firm-wide BlackRock Investment Council.

 

Before joining BlackRock in 2009, Mr. Rieder was President and Chief Executive Officer of R3 Capital Partners. He served as Vice Chairman and member of the Borrowing Committee for the U.S. Treasury and member of the Federal Reserve’s Investment Advisory Committee on Financial Markets.

 

Mr. Rieder currently serves on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board. He was nominated for Outstanding Portfolio Manager by Morningstar in 2021, was awarded the Global Unconstrained Fixed Income Manager of the Year for 2015 by Institutional Investor, was nominated for Fixed Income Manager of the Year by Institutional Investor for 2014, and was inducted into the Fixed Income Analysts Society Fixed Income Hall of Fame in 2013. Four of the funds Mr. Rieder manages (Strategic Income Opportunities, Fixed Income Global Opportunities, Total Return, and Strategic Global Bond) have been awarded Gold Medals by Morningstar.

 

From 1987 to 2008, Mr. Rieder was with Lehman Brothers, most recently as head of the firm's Global Principal Strategies team, a global proprietary investment platform. He was also global head of the firm's credit businesses, Chairman of the Corporate Bond and Loan Capital Commitment Committee, and a member of the Board of Trustees for the corporate pension fund. Before joining Lehman Brothers, Mr. Rieder was a credit analyst at SunTrust Banks in Atlanta.

 

Mr. Rieder earned a BBA degree in Finance from Emory University in 1983 and an MBA degree from The Wharton School of the University of Pennsylvania in 1987. He is a member of the board of Emory University, Emory's Business School, and the University's Finance Committee, and is the Vice Chairman of the Investment Committee. Mr. Rieder is founder and chairman of the business school's BBA investment fund and community financial literacy program.

 

Mr. Rieder serves as Chairman and President of the Board of Education for North Star Academy's fourteen Charter Schools in Newark, New Jersey, and is the Founder and Chairman of the Board of Graduation Generation Public School Collaboration in Atlanta. He is on the Board of the BlackRock Foundation, the Board of Advisors for the Hospital for Special Surgery, and the Board of Big Brothers/Big Sisters of Newark and Essex County. Mr. Rieder formerly served on the Board and National Leadership Council of the Communities in Schools Educational Foundation, and Trustee for the US Olympic Foundation. Mr. Rieder was honored at the Choose Success Awards ceremony in Atlanta in 2015 for his dedication to public education in Atlanta through CIS and Graduation Generation.

Jacob Caplain
Jacob Caplain
Samir Lakhani
Samir Lakhani
Co-Head of the Securitised Asset Team

Samir Lakhani, Managing Director, is Co-Head of the Securitized Assets Team in Global Fixed Income.

Read More

Samir Lakhani, Managing Director, is Co-Head of the Securitized Assets Team in Global Fixed Income. From 2012 to 2020, Mr. Lakhani was co-head of the CMBS and Senior CRE Debt business, and continues to act as a Lead CMBS Portfolio Manager within Global Fixed Income in addition to his other responsibilities. Mr. Lakhani is Chair of the Commercial Mortgage Loan Committee within Global Fixed Income, and a member of the BlackRock Real Estate Debt Investment Committee within BlackRock’s Real Assets Group.

 

Prior to joining BlackRock in 2009, Mr. Lakhani was a Vice President at R3 Capital Partners, where he invested in securitized assets including ABS, CMBS, CLO's and Specialty Finance transactions. Mr. Lakhani held similar roles at Lehman Brothers in their Global Principal Strategies group. Mr. Lakhani joined Lehman Brothers in 2006 initially in Structured Credit Products. Previously, Mr. Lakhani held positions at JP Morgan Partners, in their Private Equity and Mezzanine Debt group, from 2001 to 2004.

 

Mr. Lakhani served on the Board of Governors for the Commercial Real Estate Finance Council ("CREFC") from 2012 - 2018. Mr. Lakhani earned a BS Degree in Economics and a BS degree in Engineering, summa cum laude, from the University of Pennsylvania, and an MBA degree from Harvard Business School.

Dylan Price
Dylan Price
Charlotte Widjaja
Charlotte Widjaja
Vice President, is a Portfolio Manager in the Office of the CIO of Global Fixed Income

Charlotte Widjaja, Vice President, is a Portfolio Manager in the Office of the CIO of Global Fixed Income, focusing on the asset allocation and portfolio construction of Multi-Sector and Yield-Focused mandates. Charlotte is also a member of the GFI ESG Implementation Committee. 

Read More

Charlotte Widjaja, Vice President, is a Portfolio Manager in the Office of the CIO of Global Fixed Income, focusing on the asset allocation and portfolio construction of Multi-Sector and Yield-Focused mandates. Charlotte is also a member of the GFI ESG Implementation Committee, in which she is responsible for the ESG transition, integration, and portfolio construction of both ESG and non-ESG funds across the Global and Multi-sector platforms. She is also an Associate PM on the BlackRock Strategic Income Opportunities Fund.

 

Charlotte joined through Blackrock's Analyst Program in 2017. She earned a Bachelor of Science degree in Finance from Babson College in 2017.

ESG Integration

ESG Integration

BlackRock considers many investment risks in our processes. In order to seek the best risk-adjusted returns for our clients, we manage material risks and opportunities that could impact portfolios, including financially material Environmental, Social and/or Governance (ESG) data or information, where available. See our Firm Wide ESG Integration Statement for more information on this approach and fund documentation for how these material risks are considered within this product, where applicable.

Literature

Literature