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CMBS
iShares CMBS ETF
-
Fees as stated in the prospectus
Expense Ratio: 0.25%
Overview
Performance
Performance
-
Returns
| 1y | 3y | 5y | 10y | Incept. | |
|---|---|---|---|---|---|
| Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. | 6.55 | 4.87 | 3.94 | - | 3.58 |
| Market Price (%) Beginning August 10, 2020, market price returns are calculated using the closing price and account for distributions from the fund. Prior to August 10, 2020, market price returns were calculated using the midpoint price and accounted for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). | 6.67 | 5.00 | 3.98 | - | 3.62 |
| Benchmark (%) Index: Bloomberg Barclays U.S. CMBS (ERISA Only) Index | 6.83 | 5.10 | 4.21 | 4.87 | 3.93 |
| After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold. | 5.39 | 3.71 | 2.84 | - | 2.56 |
| After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares. | 3.85 | 3.21 | 2.53 | - | 2.30 |
Performance data is not currently available
Performance data is not currently available
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. | 0.61 | 3.04 | 3.07 | 0.59 | 8.03 |
| Market Price (%) Beginning August 10, 2020, market price returns are calculated using the closing price and account for distributions from the fund. Prior to August 10, 2020, market price returns were calculated using the midpoint price and accounted for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). | 0.84 | 3.10 | 2.91 | 0.75 | 7.92 |
| Benchmark (%) Index: Bloomberg Barclays U.S. CMBS (ERISA Only) Index | 0.97 | 3.32 | 3.35 | 0.78 | 8.29 |
Performance data is not currently available
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.
Performance chart data not available for display.
Distributions
| Record Date | Ex-Date | Payable Date |
|---|
Premium/Discount
Key Facts
Key Facts
Net Assets
as of Sep 28, 2020
$477,890,881
Inception Date
Feb 14, 2012
Exchange
NYSE Arca
Asset Class
Fixed Income
Benchmark Index
Bloomberg Barclays U.S. CMBS (ERISA Only) Index
Bloomberg Index Ticker
LUCMTRUU
Shares Outstanding
as of Sep 28, 2020
8,650,000
Number of Holdings
The number of holdings in the fund excluding cash positions and derivatives such as futures and currency forwards.
as of Sep 28, 2020
548
CUSIP
46429B366
Closing Price
as of Sep 28, 2020
55.56
30 Day Avg. Volume
The average number of shares traded in a security across all U.S. exchanges over the last 30 calendar days.
as of Sep 28, 2020
94,830.00
30 Day Median Bid/Ask Spread
The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
as of Sep 28, 2020
0.31%
Daily Volume
The number of shares traded in a security across all U.S. exchanges on the date indicated.
as of Sep 28, 2020
62,815.00
Portfolio Characteristics
Portfolio Characteristics
Equity Beta (3y)
Beta is a measure of the tendency of securities to move with the market as a whole. A beta of 1 indicates that the security's price will move with the market. A beta less than 1 indicates the security tends to be less volatile than the market, while a beta greater than 1 indicates the security is more volatile than the market.<br/><br/>Calculated vs. S&P 500
as of Aug 31, 2020
0.03
Average Yield to Maturity
The discount rate that equates the present value of a bond’s cash flows with its market price (including accrued interest). The Fund Average Yield to Maturity is the weighted average of the fund’s individual bond holding yields based on Net Asset Value (‘NAV’). The measure does not include fees and expenses. For callable bonds, this yield is the yield-to-worst.
as of Sep 28, 2020
1.30%
Standard Deviation (3y)
Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile.
as of Aug 31, 2020
3.92%
12m Trailing Yield
The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months.
as of Sep 25, 2020
2.54%
Weighted Avg Coupon
The average coupon rate of the underlying bonds in the fund, weighted by each bond's face value.
as of Sep 28, 2020
3.36%
Weighted Avg Maturity
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 Sep 28, 2020
5.58 yrs
Convexity
Convexity measures the change in duration for a given change in rates. Positive convexity indicates that duration lengthens when rates fall and contracts when rates rise; negative convexity indicates that duration contracts when rates fall and increases when rates rise.
as of Sep 28, 2020
0.35
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.
Sustainability Characteristics
Sustainability Characteristics
For newly launched funds, sustainability characteristics are typically available 6 months after launch.
Sustainability characteristics are displayed for funds included in MSCI ESG Fund Ratings. To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.
Inclusion of Sustainability Characteristics is not indicative of a fund’s investment objective, nor is it an implication that a fund employs an ESG-related portfolio management strategy.
Fees
Fees
as of current prospectus
| Management Fee | 0.25% |
| Acquired Fund Fees and Expenses Acquired Fund Fees and Expenses (“AFFE”) reflect the Fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds, such as mutual funds, business development companies, or other pooled investment vehicles. AFFE are reflected in the prices of the acquired funds and thus included in the total returns of the Fund. | 0.00% |
| Foreign Taxes and Other Expenses | 0.00% |
| Expense Ratio As stated in the Fund’s current prospectus. | 0.25% |
Holdings
Holdings
as of Sep 28, 2020
| Issuer | Weight (%) |
|---|---|
| FHMS_K103-A2 | 1.17 |
| FHMS_K110-A2 | 1.00 |
| FHMS_K108-A2 | 0.76 |
| FHMS_K087-A2 | 0.70 |
| FNMA_19-M6-A1 | 0.68 |
| Issuer | Weight (%) |
|---|---|
| FHMS_K065-A2 | 0.61 |
| FHMS_K070-A2 | 0.60 |
| BBCMS_20-C6-A4 | 0.57 |
| FNMA_17-M8 | 0.56 |
| FHMS_K060-A2 | 0.56 |
| Name | Sector | Asset Class | Market Value | Weight (%) | Notional Value | 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 |
|---|
Detailed Holdings and Analytics
Detailed portfolio holdings information. For fixed income holdings, issuance date can be found under the supplemental holdings file. Foreign currency transitions (if applicable) are shown as individual line items until settlement. Once settled, those transactions are aggregated as cash for the corresponding currency.
- Holdings (Supplemental Information) Portfolio holdings information including position amounts and market values
- Cash Flows The aggregate cash flows of the fund's individual holdings (scaled to 1 million ETF shares outstanding) based on the yield to worst (the lower of the yield to maturity or yield to call) of each security
Holdings are subject to change.
Non-U.S. securities whose values are affected by volatility that occurs in global markets or in related or highly correlated assets (e.g., American Depositary Receipts, Global Depositary Receipts or substantially identical ETFs) on a trading day after the close of non-U.S. securities markets may be fair valued. On days where non-U.S. securities markets are closed, BlackRock Fund Advisors, an affiliate of BlackRock Investments, LLC, will determine the fair value of the stocks traded on that local market, in accordance with policies and procedures approved by the Fund’s Board of Directors/Trustees. Fair value adjustments may be calculated by referring to instruments and markets that have continued to trade, such as exchange-traded funds, correlated stock market indices or index futures. 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.
Non-U.S. securities whose values are affected by volatility that occurs in global markets or in related or highly correlated assets (e.g., American Depositary Receipts, Global Depositary Receipts or substantially identical ETFs) on a trading day after the close of non-U.S. securities markets may be fair valued. On days where non-U.S. securities markets are closed, BlackRock Fund Advisors, an affiliate of BlackRock Investments, LLC, will determine the fair value of the stocks traded on that local market, in accordance with policies and procedures approved by the Fund’s Board of Directors/Trustees. Fair value adjustments may be calculated by referring to instruments and markets that have continued to trade, such as exchange-traded funds, correlated stock market indices or index futures. 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.
Exposure Breakdowns
Exposure Breakdowns
as of Sep 28, 2020
% of Market Value
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 Sep 28, 2020
% of Market Value
as of Sep 28, 2020
% of Market Value
Allocations are subject to change.
Price Yield Calculator
Price Yield Calculator
The calculator provides clients with an indication of an ETF's yield and duration for a given market price. The ACF Yield is the discount rate that equates the ETF's aggregate cash flows (i.e., the sum of the cash flows of the ETF's holdings) to a given ETF price. The cash flows are based on the yield to worst methodology in which a bond's cash flows are assumed to occur at the call date (if applicable) or maturity, whichever results in the lowest yield for that bond holding. For a given ETF price, this calculator will estimate the corresponding ACF Yield and spread to the relevant government reference security yield. Note that the ACF Yield will differ from the ETF's "Weighted Avg YTM For more information on Aggregate Cash Flow Yield, see info here. The Aggregate Cash Flow (“ACF”) Yield is the discount rate that equates the aggregate cash flows of the ETF's individual fund holdings (specifically the cash flows corresponding to the lower of the yield to call or yield to maturity of a given security) to a stated market price. In contrast, the weighted average yield to maturity is a market value weighted average of the yields of the ETF's individual holdings based on the prior day's net asset value. The ACF Yield allows an investor to compare the yield and spread for varying ETF market prices in order to help understand the impact of intraday market movements. The ACF of the ETF is the sum of the individual bond cash flows “to worst” (i.e. either to call or to maturity, whichever results in the lowest yield for the ETF). The ACF Yield does not make any adjustments based on the cost incurred to acquire an ETF or the impact of the ETF’s management fee.
Results generated are for illustrative purposes only and are not representative of any specific investments outcome. For standardized performance, please click the ‘returns’ tab above.
Literature
Literature
How to Buy iShares ETFs
How to Buy iShares ETFs
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