Fixed Income

TFLO

iShares Treasury Floating Rate Bond ETF

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.
0.46 1.45 1.15 - 0.85
Market Price (%)

as of Dec 31, 2020

0.44 1.45 1.12 - 0.85
Benchmark (%)

as of Dec 31, 2020

0.61 1.59 1.28 - 0.95
After Tax Pre-Liq. (%)

as of Dec 31, 2020

0.31 0.89 0.71 - 0.52
After Tax Post-Liq. (%)

as of Dec 31, 2020

0.27 0.87 0.69 - 0.51
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
0.46 0.01 0.01 0.01 0.46 4.42 5.86 - 6.04
Market Price (%)

as of Dec 31, 2020

0.44 -0.01 -0.01 0.01 0.44 4.40 5.71 - 6.01
Benchmark (%)

as of Dec 31, 2020

0.61 0.01 0.03 0.09 0.61 4.84 6.56 - 6.75
After Tax Pre-Liq. (%)

as of Dec 31, 2020

0.31 0.01 0.00 -0.01 0.31 2.70 3.58 - 3.65
After Tax Post-Liq. (%)

as of Dec 31, 2020

0.27 0.01 0.00 0.01 0.27 2.64 3.48 - 3.56
  2016 2017 2018 2019 2020
Total Return (%) 0.47 0.91 1.82 2.08 0.46
Market Price (%) 0.33 0.93 1.86 2.04 0.44
Benchmark (%) 0.57 1.06 1.94 2.22 0.61
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 Jan 20, 2021 $377,116,093
Inception Date Feb 03, 2014
Exchange NYSE Arca
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays US Treasury Floating Rate Bond Index
Bloomberg Index Ticker BTFLTRUU
Shares Outstanding as of Jan 20, 2021 7,500,000
Premium/Discount as of Jan 20, 2021 0.00%
CUSIP 46434V860
Closing Price as of Jan 20, 2021 50.28
Options Available No
30 Day Avg. Volume as of Jan 19, 2021 41,993.00
30 Day Median Bid/Ask Spread as of Jan 19, 2021 0.02%
Daily Volume as of Jan 20, 2021 58,333.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 19, 2021 8
Equity Beta (3y) as of Dec 31, 2020 0.00
30 Day SEC Yield as of Jan 19, 2021 -0.02%
Average Yield to Maturity as of Jan 19, 2021 0.12%
Standard Deviation (3y) as of Dec 31, 2020 0.26%
12m Trailing Yield as of Jan 19, 2021 0.36%
Weighted Avg Coupon as of Jan 19, 2021 0.21%
Effective Duration as of Jan 19, 2021 0.01 yrs
Weighted Avg Maturity as of Jan 19, 2021 1.16 yrs
Convexity as of Jan 19, 2021 0.00
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 can help investors integrate non-financial, sustainability considerations into their investment process. These metrics enable investors to evaluate funds based on their environmental, social, and governance (ESG) risks and opportunities. This analysis can provide insight into the effective management and long-term financial prospects of a fund. Learn more.


The metrics below have been provided for transparency and informational purposes only. The existence of an ESG rating is not indicative of how or whether ESG factors will be integrated into a fund. The metrics are based on MSCI ESG Fund Ratings 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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodology behind Sustainability Characteristics, using links below.

MSCI ESG Fund Rating (AAA-CCC) as of Jan 07, 2021 A
MSCI ESG Quality Score (0-10) as of Jan 07, 2021 6.6
MSCI ESG Quality Score - Peer Percentile as of Jan 07, 2021 86.96%
MSCI ESG % Coverage as of Jan 07, 2021 100.00%
Fund Lipper Global Classification as of Jan 07, 2021 Bond USD Government Short Term
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of - -
Funds in Peer Group as of Jan 07, 2021 46
All data is from MSCI ESG Fund Ratings as of Jan 07, 2021, based on holdings as of Nov 30, 2020. 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 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.

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, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. 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 Jan 19, 2021 0.00%
MSCI - UN Global Compact Violators as of Jan 19, 2021 0.00%
MSCI - Nuclear Weapons as of Jan 19, 2021 0.00%
MSCI - Thermal Coal as of Jan 19, 2021 0.00%
MSCI - Civilian Firearms as of Jan 19, 2021 0.00%
MSCI - Oil Sands as of Jan 19, 2021 0.00%
MSCI - Tobacco as of Jan 19, 2021 0.00%

Business Involvement Coverage as of Jan 19, 2021 1.32%
Percentage of Fund not covered as of Jan 19, 2021 98.68%
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.

Fees

Fees

as of current prospectus
Management Fee 0.15%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.15%

Holdings

Holdings

as of Jan 19, 2021
Issuer Weight (%)
UNITED STATES TREASURY 95.89
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
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 Jan 19, 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 Jan 19, 2021

% of Market Value

Type Fund
as of Jan 19, 2021

% 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 01/20/21
Price $50.28
0.14%
Modified Duration 1.13 years

Spread of ACF Yield (0.14%) over 1.00 yr Treasury Yield (0.10%) As of 01/20/21 is + 4 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.

Literature

Literature

 

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