MBB

iShares MBS ETF

Fixed Income

MBB

iShares MBS ETF

How To Buy

Overview

Why MBB?

1. Exposure to broad range of U.S. mortgage-backed bonds, including those issued by government sponsored enterprises such as Ginnie Mae, Fannie Mae, and Freddie Mac

 

2. Access to the domestic mortgage-backed bond market in a single fund

 

3. Use to seek income

INVESTMENT OBJECTIVE

The iShares MBS ETF (MBB) seeks to track the investment results of an index composed of investment-grade mortgage-backed pass-through securities issued and/or guaranteed by U.S. government agencies.
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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -0.19 2.48 1.76 3.79 3.75
Market Price (%) Market price return represents changes to the midpoint price and accounts 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). -0.17 2.49 1.75 3.79 3.76
Benchmark (%) Index: Bloomberg Barclays US Mortgage Backed Securities Index 0.17 2.69 2.04 4.16 4.13
After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold. -1.25 1.46 0.92 2.58 2.55
After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares. -0.06 1.44 0.98 2.47 2.44
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. 0.43 0.00 0.43 -1.72 -0.19 7.62 9.13 45.08 44.83
Market Price (%) Market price return represents changes to the midpoint price and accounts 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). 0.55 0.02 0.55 -1.74 -0.17 7.65 9.08 45.04 44.86
Benchmark (%) Index: Bloomberg Barclays US Mortgage Backed Securities Index 0.47 0.03 0.47 -1.51 0.17 8.29 10.63 50.37 50.15
After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold. 0.26 -0.08 0.26 -2.34 -1.25 4.45 4.67 28.99 28.77
After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares. 0.24 0.00 0.24 -0.93 -0.06 4.38 5.00 27.60 27.42
  2012 2013 2014 2015 2016
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. 2.23 -1.92 6.16 1.28 1.28
Market Price (%) Market price return represents changes to the midpoint price and accounts 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). 2.03 -1.89 6.30 1.18 1.23
Benchmark (%) Index: Bloomberg Barclays US Mortgage Backed Securities Index 2.59 -1.41 6.08 1.51 1.67

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.
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Performance chart data not available for display.
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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

Ex-Date Total Distribution Income
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Distributions Schedule
Record Date Ex-Date Payable Date Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end. Income ST Cap Gains LT Cap Gains Return of Capital

Past distributions are not indicative of future distributions.
Click here, for the most recent distributions.



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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Premium/Discount

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Key Facts

Key Facts

Net Assets as of 23-Jun-2017 $10,627,400,106
Inception Date 13-Mar-2007
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays US Mortgage Backed Securities Index
Bloomberg Index Ticker LUMSTRUU
Shares Outstanding as of 23-Jun-2017 99,100,000
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives such as futures and currency forwards. as of 22-Jun-2017 399
Premium/Discount The amount the Fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund’s NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund’s NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number. as of 23-Jun-2017 0.00%
CUSIP 464288588
Closing Price The Closing Price is the price of the last reported trade on the fund’s primary exchange (see “Exchange” above). as of 23-Jun-2017 107.23
Mid-Point Price The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm eastern time for most funds). as of 23-Jun-2017 107.24
Options Available Yes
20 Day Avg. Volume Average Daily Volume (ADV) on primary exchange (see “Exchange” above); may differ from ADV reported by other sources, which may publish an aggregated ADV from all exchanges on which the ETF trades. as of 23-Jun-2017 95,692
Daily Volume The number of shares or contracts traded in a security or an entire market during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increases by 100 shares based on that transaction. Volume shown is the volume that traded on the primary exchange (see “Exchange” above) as of the date indicated. as of 23-Jun-2017 80,840
NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Equity Beta 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&#39;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&amp;P 500 as of 31-May-2017 -0.09
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 31-May-2017 1.95%
Distribution Yield The annual yield an investor would receive if the most recent fund distribution and current fund price stayed the same going forward. It’s calculated by annualizing the most recent distribution and dividing by the fund’s net asset value (NAV) from the as-of date. as of 22-Jun-2017 2.55%
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 22-Jun-2017 2.47%
30 Day SEC Yield A standard calculation of yield introduced by the SEC in order to provide fairer comparison among funds. This yield reflects the interest earned after deducting the fund&#39;s expenses during the most recent 30-day period by the average investor in the fund. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. as of 22-Jun-2017 1.96%
Weighted Avg Coupon The average coupon rate of the underlying bonds in the fund, weighted by each bond&#39;s face value. as of 22-Jun-2017 3.49%
Effective Duration Effective Duration measures the sensitivity of the price of a bond with or without embedded options to changes in interest rates, taking into account the likelihood of the bond being called, put and/or sunk prior to its final maturity date while incorporating after-tax impacts on the bond. The options-based duration model used by BlackRock employs certain assumptions and may differ from other fund complexes. Effective Duration is measured at the individual bond level, aggregated to the portfolio level, and adjusted for leverage, hedging transactions and non-bond holdings, including derivatives. as of 22-Jun-2017 3.97 yrs
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 22-Jun-2017 6.00 yrs
Option Adjusted Spread The weighted average incremental yield earned over similar duration US Treasuries, measured in basis points. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date. as of 22-Jun-2017 27.59
Average Yield 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 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 22-Jun-2017 2.66%
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Management Fee 0.25%
Acquired Fund Fees and Expenses Acquired Fund Fees and Expenses (“AFFE”) reflect the Fund&#39;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. 0.04%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio As stated in the Fund’s current prospectus. 0.29%
on 31-Mar-2017
Management Fee The Fund’s management fee is subject to breakpoints that are tied to aggregate assets under management across certain groups of iShares ETFs. Breakpoints take effect immediately after asset levels change. On any given day the management fee, and thus the Expense Ratio, may be higher or lower than what is shown in the Fund’s prospectus. For additional information on fees and expenses, please see the Fund’s prospectus. 0.24%
Acquired Fund Fees and Expenses Acquired Fund Fees and Expenses (“AFFE”) reflect the Fund&#39;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. 0.03%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio The Expense Ratio reflects the Fund’s management fee, and any applicable acquired fund fees and expenses, and foreign taxes and other expenses, calculated on the date set forth above. On any given day these fees may be higher or lower than what is shown in the Fund&#39;s prospectus. 0.27%

Holdings

Holdings

as of 22-Jun-2017
Issuer Weight (%)
FEDERAL NATIONAL MORTGAGE ASSOCIATION 43.98
FEDERAL HOME LOAN MORTGAGE CORPORATION - GOLD 26.47
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 24.93
Issuer Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 2.62
FEDERAL HOME LOAN MORTGAGE CORPORATION 0.56
as of 22-Jun-2017
ISIN Name Sector SEDOL Market Value Weight (%) Price Maturity Coupon (%) Duration Notional Value YTM (%) Yield to Call (%) Yield to Worst (%) Par Value
US0669225197 BLACKROCK CASH CL INST SL AGENCY Cash and/or Derivatives BKGRT85 $3,483,264,756.34 32.80 1.00 - 1.22 0.00 3,483,264,756.34 1.22 - 1.22 3,481,872,008.00
US01F0306781 FNMA 30YR TBA(REG A) Agency Fixed Rate - $726,875,693.24 6.84 100.64 13-Jul-2017 3.00 5.79 726,875,693.24 2.90 - 2.90 721,522,000.00
- GNMA2 30YR TBA(REG C) Agency Fixed Rate - $581,879,579.54 5.48 101.73 20-Jul-2017 3.00 5.07 581,879,579.54 2.74 - 2.74 571,101,000.00
U302R0306735 FGOLD 30YR TBA(REG A) Agency Fixed Rate - $438,262,369.11 4.13 100.54 13-Jul-2017 3.00 5.82 438,262,369.11 2.93 - 2.93 435,471,000.00
- FGOLD 30YR 2015 PRODUCTION Agency Fixed Rate - $427,790,199.97 4.03 103.30 01-Jan-2047 3.50 4.43 427,790,199.97 2.91 - 2.91 413,295,454.00
- FNMA 30YR 2017 PRODUCTION Agency Fixed Rate - $423,966,701.50 3.99 103.31 01-Jun-2047 3.50 4.41 423,966,701.50 2.90 - 2.90 409,583,965.00
- GNMA2 30YR 2016 PRODUCTION Agency Fixed Rate - $395,243,786.15 3.72 104.08 20-Jan-2047 3.50 3.91 395,243,786.15 2.76 - 2.76 379,013,828.00
- GNMA2 30YR 2017 PRODUCTION Agency Fixed Rate - $341,400,535.74 3.21 104.11 20-Apr-2047 3.50 3.91 341,400,535.74 2.76 - 2.76 327,290,299.00
US21H0326700 GNMA2 30YR TBA(REG C) Agency Fixed Rate - $302,921,295.22 2.85 103.94 20-Jul-2017 3.50 3.91 302,921,295.22 2.76 - 2.76 290,916,000.00
- FNMA 30YR 2017 PRODUCTION Agency Fixed Rate - $296,828,680.60 2.79 105.62 01-Mar-2047 4.00 3.10 296,828,680.60 2.64 - 2.64 280,402,192.00
Most transactions in fixed-rate mortgage pass-through securities occur through the use of "to-be-announced" or "TBA" transactions. The Fund regularly enters into TBA agreements. The Fund invests cash pending settlement of any TBA transactions in money market instruments, repurchase agreements or other high-quality, liquid short-term instruments, including money market funds advised by BFA, which are not included in the holdings shown.

Name Asset Class Weight (%) Price Market Value Notional Value Sector SEDOL ISIN Coupon (%) Maturity YTM (%) Yield to Call (%) Yield to Worst (%) Duration Par Value
Most transactions in fixed-rate mortgage pass-through securities occur through the use of "to-be-announced" or "TBA" transactions. The Fund regularly enters into TBA agreements. The Fund invests cash pending settlement of any TBA transactions in money market instruments, repurchase agreements or other high-quality, liquid short-term instruments, including money market funds advised by BFA, which are not included in the holdings shown.

Detailed Holdings and Analytics Detailed portfolio holdings information and select key analytics
Holdings are subject to change.

Exposure Breakdowns

Exposure Breakdowns

as of 22-Jun-2017

% of Market Value

Type Fund
as of 22-Jun-2017

% 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 22-Jun-2017

% 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.

Literature

Literature

 

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Fidelity and BlackRock have entered into a long-term marketing program that compensates Fidelity to promote iShares ETFs; as part of this agreement, Fidelity offers 70 iShares ETFs commission-free online for qualified buyers and sellers. Additional information about this arrangement, including any compensation, is contained in the ETF’s registration statement. ETFs are subject to a short–term trading fee by Fidelity, if held less than 30 days. Other conditions and fees may apply. See Fidelity.com/commissions for details. BlackRock is not affiliated with Fidelity or any of their affiliates.

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