Fixed Income

NEAR

BlackRock Short Duration Bond ETF ACTIVE

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Overview

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Performance

Performance

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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
6.68 2.80 2.46 1.92 1.89
Market Price (%) 6.83 2.83 2.47 1.93 1.90
After Tax Pre-Liq. (%) 4.58 1.71 1.48 1.14 1.14
After Tax Post-Liq. (%) 3.92 1.67 1.46 1.13 1.12
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.69 0.40 0.69 3.81 6.68 8.63 12.90 20.96 21.78
Market Price (%) 0.69 0.41 0.69 3.93 6.83 8.72 12.97 21.03 21.90
After Tax Pre-Liq. (%) 0.36 0.24 0.36 2.67 4.58 5.22 7.61 12.01 12.62
After Tax Post-Liq. (%) 0.41 0.24 0.41 2.24 3.92 5.09 7.50 11.87 12.39
  2019 2020 2021 2022 2023
Total Return (%) 3.47 1.43 0.34 0.36 7.33
Market Price (%) 3.51 1.39 0.32 0.41 7.41
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 Apr 15, 2024 $2,974,619,654
Fund Inception Sep 25, 2013
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Shares Outstanding as of Apr 15, 2024 59,450,000
Distribution Frequency Monthly
Premium/Discount as of Apr 15, 2024 -0.04
CUSIP 46431W507
Price as of Apr 15, 2024 50.02
30 Day Avg. Volume as of Apr 15, 2024 367,286.00
30 Day Median Bid/Ask Spread as of Apr 15, 2024 0.02%
Volume - 1d as of Apr 15, 2024 506,020.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Apr 12, 2024 893
Equity Beta (3y) as of Mar 31, 2024 0.02
30 Day SEC Yield as of Apr 12, 2024 5.14%
12m Trailing Yield as of Apr 12, 2024 4.96%
Standard Deviation (3y) as of Mar 31, 2024 1.34%
Unsubsidized 30-Day SEC Yield as of Apr 12, 2024 5.14%
Yield to Worst as of Apr 12, 2024 5.67%
Weighted Avg Coupon as of Apr 12, 2024 4.85
Weighted Avg Maturity as of Apr 12, 2024 2.51 yrs
Effective Duration as of Apr 12, 2024 1.91 yrs
Convexity as of Apr 12, 2024 0.02
Option Adjusted Spread as of Apr 12, 2024 78.56 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 Mar 21, 2024 A
MSCI ESG % Coverage as of Mar 21, 2024 68.37%
MSCI ESG Quality Score (0-10) as of Mar 21, 2024 6.4
MSCI ESG Quality Score - Peer Percentile as of Mar 21, 2024 45.27%
Fund Lipper Global Classification as of Mar 21, 2024 Bond USD Short Term
Fund Lipper Global Classification Size as of Mar 21, 2024 201
MSCI Weighted Average Carbon Intensity as of Mar 21, 2024 126.68
MSCI Weighted Average Carbon Intensity % Coverage as of Mar 21, 2024 39.11%

To be included in MSCI ESG Fund Ratings, 65% (or 50% for bond funds and money market funds) 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.

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 Apr 12, 2024 0.49%
UN Global Compact Compliance Violation (Fail) as of Apr 12, 2024 0.00%
Nuclear Weapons as of Apr 12, 2024 0.17%
MSCI Thermal Coal as of Apr 12, 2024 0.30%
Civilian Firearms - Producers as of Apr 12, 2024 0.00%
MSCI Oil Sands as of Apr 12, 2024 0.00%
Tobacco - Producers as of Apr 12, 2024 0.81%

Business Involvement Coverage as of Apr 12, 2024 26.54%
Percentage of Fund not covered as of Apr 12, 2024 73.46%
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 0.30% (as of Apr 12, 2024) and for Oil Sands 0.00% (as of Apr 12, 2024).

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 financially material environmental, social and governance (ESG) data or information into the investment decision process with the objective of enhancing risk-adjusted returns of our clients’ 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 or strategy, but rather describes how ESG data or information is considered as part of the overall investment process.

The Fund manager includes ESG considerations in combination with other information in the research phase of the investment process. This may include relevant third-party insights, as well as internal engagement commentary and input from BlackRock Investment Stewardship on governance issues. The Fund manager conducts regular portfolio reviews with the Risk and Quantitative Analysis group and with the Chief Investment Officers. These reviews include discussion, where appropriate, 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%
Foreign Taxes and Other Expenses 0.00%
Gross 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 Apr 12, 2024
Issuer Weight (%)
UNITED STATES TREASURY 35.82
CITIGROUP INC 1.83
BANK OF AMERICA CORP 1.52
JPMORGAN CHASE & CO 1.28
AMERICAN TOWER CORPORATION 1.08
Issuer Weight (%)
CCCIT_17-A6-A6 1.02
FEDERAL NATIONAL MORTGAGE ASSOCIATION 0.84
GENERAL MOTORS FINANCIAL CO INC 0.76
GOLDMAN SACHS GROUP INC/THE 0.75
HCA INC 0.72
Name Sector Asset Class Market Value Weight (%) Notional Value Par Value CUSIP ISIN SEDOL 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”). 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. 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 Apr 12, 2024

% of Market Value

Type Fund
as of Apr 12, 2024

% 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 12, 2024

% 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 04/15/24
Price $50.02
5.40%
Modified Duration 2.18 years

Spread of ACF Yield (5.40%) over 3.00 yr Treasury Yield (4.79%) As of 04/15/24 is + 61 bps

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.

Portfolio Managers

Portfolio Managers

Akiva Dickstein
Managing Director, Global Fixed Income, Head of Customized Multi-Sector Portfolios, Head of Short Duration

    

Scott MacLellan, CFA, CMT
Managing Director, Portfolio Manager

  

James Mauro
James Mauro
Amanda Liu, CFA
Director, Deputy Head of the multi-sector team within Core Portfolio Management

  

Sam Summers
Director, Portfolio Manager

  

Literature

Literature

 

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