Fixed Income

NEAR

BlackRock Short Maturity Bond ETF ACTIVE

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Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
-0.86 0.55 1.30 - 1.21
Market Price (%) -0.80 0.57 1.30 - 1.22
After Tax Pre-Liq. (%) -1.25 0.02 0.60 - 0.63
After Tax Post-Liq. (%) -0.51 0.20 0.69 - 0.67
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-0.71 -0.12 0.35 -0.04 -0.86 1.66 6.67 - 11.48
Market Price (%) -0.64 -0.04 0.42 0.01 -0.80 1.73 6.66 - 11.53
After Tax Pre-Liq. (%) -1.01 -0.19 0.18 -0.30 -1.25 0.06 3.02 - 5.85
After Tax Post-Liq. (%) -0.42 -0.07 0.21 -0.02 -0.51 0.59 3.52 - 6.25
  2017 2018 2019 2020 2021
Total Return (%) 1.55 1.71 3.47 1.43 0.34
Market Price (%) 1.41 1.75 3.51 1.39 0.32
  Sep 30, 2017Sep 30, 2018 Sep 30, 2018Sep 30, 2019 Sep 30, 2019Sep 30, 2020 Sep 30, 2020Sep 30, 2021 Sep 30, 2021Sep 30, 2022
Total Return (%)

as of Sep 30, 2022

1.79 3.08 1.62 0.90 -0.86
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 of Fund as of Dec 06, 2022 $4,080,473,471
Fund Inception Sep 25, 2013
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Shares Outstanding as of Dec 06, 2022 82,900,000
Distribution Frequency Monthly
Premium/Discount as of Dec 06, 2022 -0.03
CUSIP 46431W507
Closing Price as of Dec 06, 2022 49.21
30 Day Avg. Volume as of Dec 06, 2022 918,383.00
30 Day Median Bid/Ask Spread as of Dec 06, 2022 0.02%
Daily Volume as of Dec 06, 2022 1,278,503.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 05, 2022 354
Equity Beta (3y) as of Oct 31, 2022 0.07
30 Day SEC Yield as of Dec 05, 2022 4.32%
12m Trailing Yield as of Dec 05, 2022 1.50%
Standard Deviation (3y) as of Oct 31, 2022 2.54%
Average Yield to Maturity as of Dec 05, 2022 5.60%
Weighted Avg Coupon as of Dec 05, 2022 3.39
Weighted Avg Maturity as of Dec 05, 2022 1.16 yrs
Effective Duration as of Dec 05, 2022 0.37 yrs
Convexity as of Dec 05, 2022 0.13
Option Adjusted Spread as of Dec 05, 2022 134.36 bps
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund. Learn more


This fund does not seek to follow a sustainable, impact or ESG investment strategy. The metrics do not change the fund’s investment objective or constrain the fund’s investable universe, and there is no indication that a sustainable, impact or ESG investment strategy will be adopted by the fund. For more information regarding the fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of Sep 21, 2022 AA
MSCI ESG % Coverage as of Sep 21, 2022 73.56%
MSCI ESG Quality Score (0-10) as of Sep 21, 2022 7.7
MSCI ESG Quality Score - Peer Percentile as of Sep 21, 2022 47.59%
Fund Lipper Global Classification as of Sep 21, 2022 Bond USD Short Term
Funds in Peer Group as of Sep 21, 2022 145
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of Sep 21, 2022 99.14
MSCI Weighted Average Carbon Intensity % Coverage as of Sep 21, 2022 65.72%
All data is from MSCI ESG Fund Ratings as of Sep 21, 2022, based on holdings as of Aug 31, 2022. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities with ESG coverage 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.

Business Involvement

Business Involvement

Business Involvement metrics can help investors gain a more comprehensive view of specific activities in which a fund may be exposed through its investments.


Business Involvement metrics are not indicative of a fund’s investment objective, and, unless otherwise stated in fund documentation and included within a fund’s investment objective, do not change a fund’s investment objective or constrain the fund’s investable universe. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind the Business Involvement metrics, using links below.

MSCI - Controversial Weapons as of Dec 05, 2022 0.00%
MSCI - UN Global Compact Violators as of Dec 05, 2022 1.30%
MSCI - Nuclear Weapons as of Dec 05, 2022 0.00%
MSCI - Thermal Coal as of Dec 05, 2022 0.00%
MSCI - Civilian Firearms as of Dec 05, 2022 0.00%
MSCI - Oil Sands as of Dec 05, 2022 0.00%
MSCI - Tobacco as of Dec 05, 2022 0.00%

Business Involvement Coverage as of Dec 05, 2022 65.80%
Percentage of Fund not covered as of Dec 05, 2022 34.20%
BlackRock business involvement exposures as shown above for Thermal Coal and Oil Sands are calculated and reported for companies that generate more than 5% of revenue from thermal coal or oil sands as defined by MSCI ESG Research. For the exposure to companies that generate any revenue from thermal coal or oil sands (at a 0% revenue threshold), as defined by MSCI ESG Research, it is as follows: Thermal Coal 0.00% and for Oil Sands 0.00%.

Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each company’s specific business involvement. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above.


Business Involvement metrics are designed only to identify companies where MSCI has conducted research and identified as having involvement in the covered activity. As a result, it is possible there is additional involvement in these covered activities where MSCI does not have coverage. This information should not be used to produce comprehensive lists of companies without involvement. Business Involvement metrics are only displayed if at least 1% of the fund’s gross weight includes securities covered by MSCI ESG Research.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


The Fund manager includes ESG considerations in combination with other information in the research and due diligence phase of the investment process. ESG information may be sourced internally, via collaboration with the BlackRock Investment Stewardship team in engaging issuers on material environmental, social or governance topics, or from third-party providers. The Fund manager’s ongoing monitoring of the portfolio involves regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Management Fee 0.25%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.25%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Holdings

Holdings

as of Dec 02, 2022
Issuer Weight (%)
MORGAN STANLEY 2.84
BANK OF AMERICA CORP 2.78
JPMORGAN CHASE & CO 2.28
NEXTERA ENERGY CAPITAL HOLDINGS INC 2.11
7-ELEVEN INC 1.68
Issuer Weight (%)
AMERICAN EXPRESS COMPANY 1.68
GOLDMAN SACHS GROUP INC/THE 1.59
BAYER US FINANCE II LLC 1.42
HUMANA INC 1.31
VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 1.31
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 Accrual Date Effective Date
Holdings are subject to change.

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”). 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.

Exposure Breakdowns

Exposure Breakdowns

as of Dec 02, 2022

% of Market Value

Type Fund
as of Dec 02, 2022

% of Market Value

Type Fund
Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds).
as of Dec 02, 2022

% 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.

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.

As of 12/06/22
Price $49.21
5.24%
Modified Duration 1.07 years

Spread of ACF Yield (5.24%) over 1.00 yr Treasury Yield (4.77%) As of 12/06/22 is + 47 bps

Results generated are for illustrative purposes only and are not representative of any specific investment outcome. For standardized performance, please see the Performance section above.

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Managing Director, Head of Customized Multi-Sector Portfolios

    

Scott MacLellan, CFA
Portfolio Manager, BlackRock Global Fixed Income Group

  

James Mauro
James Mauro
Scott Radell
Head of Core Portfolio Management, Systematic Fixed Income

  

Literature

Literature

 

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