Fixed Income

SUB

iShares Short-Term National Muni Bond ETF

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  • NAV as of Apr 16, 2021 $107.66
    52 WK: 105.88 - 108.03
  • 1 Day NAV Change as of Apr 16, 2021 0.00 (0.00%)
  • NAV Total Return as of Apr 15, 2021 YTD: 0.25%
  • Fees as stated in the prospectus Expense Ratio: 0.07%

Overview

Why SUB?

1. Exposure to short-term U.S. municipal bonds

 

2. Access to a specific segment of the domestic municipal bond market

 

3. Use to seek tax-exempt income and manage interest rate risk

INVESTMENT OBJECTIVE

The iShares Short-Term National Muni Bond ETF seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds with remaining maturities between one month and five years.
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Performance

Performance

Growth of Hypothetical $10,000

Performance chart data not available for display.
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The Hypothetical Growth of $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.

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

Record Date Ex-Date Payable Date
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Distributions Schedule
Record Date Ex-Date Payable Date Total Distribution Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%) 2.51 2.27 1.45 1.27 1.66
Market Price (%) 2.55 2.34 1.50 1.32 1.68
Benchmark (%) 2.76 2.43 1.69 1.54 1.94
After Tax Pre-Liq. (%) 2.51 2.27 1.45 1.27 1.66
After Tax Post-Liq. (%) 1.97 2.07 1.38 1.22 1.54
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) -0.03 0.19 -0.03 0.22 2.51 6.97 7.44 13.51 22.61
Market Price (%) -0.11 0.22 -0.11 0.24 2.55 7.17 7.75 13.99 22.99
Benchmark (%) 0.08 0.20 0.08 0.42 2.76 7.46 8.72 16.56 26.88
After Tax Pre-Liq. (%) -0.03 0.19 -0.03 0.22 2.51 6.97 7.44 13.50 22.61
After Tax Post-Liq. (%) 0.05 0.14 0.05 0.33 1.97 6.33 7.11 12.92 20.90
  2016 2017 2018 2019 2020
Total Return (%) -0.03 0.90 1.57 3.09 2.27
Market Price (%) -0.04 0.72 1.83 2.90 2.58
Benchmark (%) 0.20 1.38 1.76 3.24 2.37
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.

Key Facts

Key Facts

Net Assets as of Apr 16, 2021 $4,629,580,211
Inception Date Nov 05, 2008
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index S&P Short Term National AMT-Free Municipal Bond Index
Bloomberg Index Ticker SPMU5YRT
Shares Outstanding as of Apr 16, 2021 43,000,000
Premium/Discount as of Apr 16, 2021 0.30%
CUSIP 464288158
Closing Price as of Apr 16, 2021 107.99
Options Available No
30 Day Avg. Volume as of Apr 16, 2021 240,954.00
30 Day Median Bid/Ask Spread as of Apr 16, 2021 0.02%
Daily Volume as of Apr 16, 2021 192,033.00
NAIC Designated (Schedule D Eligible)

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Apr 15, 2021 1,762
Equity Beta (3y) as of Mar 31, 2021 0.02
30 Day SEC Yield as of Apr 15, 2021 0.24%
Average Yield to Maturity as of Apr 15, 2021 0.24%
Standard Deviation (3y) as of Mar 31, 2021 1.43%
12m Trailing Yield as of Apr 15, 2021 1.11%
Tax Equiv. SEC Yield as of Apr 15, 2021 0.42%
Weighted Avg Coupon as of Apr 15, 2021 4.85%
Effective Duration as of Apr 15, 2021 2.00 yrs
Weighted Avg Maturity as of Apr 15, 2021 2.12 yrs
Convexity as of Apr 15, 2021 0.05
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities covered by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, sustainability characteristics are typically available 6 months after launch. MSCI Ratings are currently unavailable for this fund.

Fees

Fees

as of current prospectus
Management Fee 0.07%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.07%

Holdings

Holdings

as of Apr 15, 2021
Issuer Weight (%)
CALIFORNIA (STATE OF) 5.95
DORMITORY AUTHORITY OF STATE OF NEW YORK 4.08
NEW YORK N Y 3.52
MASSACHUSETTS (COMMONWEALTH OF) 3.09
MARYLAND (STATE OF) 2.88
Issuer Weight (%)
NORTH CAROLINA (STATE OF) 2.86
PENNSYLVANIA (COMMONWEALTH OF) 2.67
ILLINOIS (STATE OF) 2.32
GEORGIA (STATE OF) 2.31
NEW YORK ST URBAN DEV CORP 2.30
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 Effective Date Accrual Date
Detailed Holdings and Analytics
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.

Exposure Breakdowns

Exposure Breakdowns

as of Apr 15, 2021

% 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. Bonds are included in US bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer. 
as of Apr 15, 2021

% of Market Value

Type Fund
as of Apr 15, 2021

% 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 Apr 15, 2021

% of Market Value

Type Fund