Fixed Income

MEAR

BlackRock Short Maturity Municipal Bond ETF ACTIVE

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.
1.11 1.57 1.25 - 1.14
Market Price (%)

as of Dec 31, 2020

1.15 1.57 1.27 - 1.15
Benchmark (%)

as of Dec 31, 2020

1.76 1.99 1.43 - 1.30
After Tax Pre-Liq. (%)

as of Dec 31, 2020

1.11 1.57 1.25 - 1.14
After Tax Post-Liq. (%)

as of Dec 31, 2020

1.03 1.51 1.23 - 1.12
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.11 0.05 0.10 0.53 1.11 4.79 6.43 - 6.81
Market Price (%)

as of Dec 31, 2020

1.15 0.15 0.22 0.45 1.15 4.77 6.50 - 6.88
Benchmark (%)

as of Dec 31, 2020

1.76 0.09 0.13 0.48 1.76 6.07 7.38 - 7.79
After Tax Pre-Liq. (%)

as of Dec 31, 2020

1.11 0.05 0.10 0.53 1.11 4.79 6.43 - 6.81
After Tax Post-Liq. (%)

as of Dec 31, 2020

1.03 0.05 0.12 0.44 1.03 4.59 6.29 - 6.71
  2016 2017 2018 2019 2020
Total Return (%) 0.59 0.97 1.58 2.03 1.11
Market Price (%) 0.47 1.17 1.60 1.95 1.15
Benchmark (%) 0.30 0.92 1.74 2.46 1.76
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 15, 2021 $291,214,486
Inception Date Mar 03, 2015
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index
Bloomberg Index Ticker LM01TR
Shares Outstanding as of Jan 15, 2021 5,800,000
Premium/Discount as of Jan 15, 2021 -0.02%
CUSIP 46431W838
Closing Price as of Jan 19, 2021 50.19
Options Available No
30 Day Avg. Volume as of Jan 19, 2021 85,833.00
30 Day Median Bid/Ask Spread as of Jan 19, 2021 0.10%
Daily Volume as of Jan 19, 2021 70,451.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Jan 15, 2021 108
Equity Beta (3y) as of Dec 31, 2020 0.02
30 Day SEC Yield as of Jan 15, 2021 0.13%
Average Yield to Maturity as of Jan 15, 2021 0.35%
Standard Deviation (3y) as of Dec 31, 2020 0.60%
12m Trailing Yield as of Jan 15, 2021 0.90%
Tax Equiv. SEC Yield as of Jan 15, 2021 0.23%
Weighted Avg Coupon as of Jan 15, 2021 2.32%
Effective Duration as of Jan 15, 2021 0.59 yrs
Weighted Avg Maturity as of Jan 15, 2021 0.67 yrs
Convexity as of Jan 15, 2021 0.01
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.

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.


Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts 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%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.25%

Holdings

Holdings

as of Jan 15, 2021
Issuer Weight (%)
NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 6.63
MAIN STREET NATURAL GAS INC - MACQUARIE 4.22
TOBACCO SETTLEMENT FING CORP N J 2.86
CONNECTICUT (STATE OF) 2.78
BLACK BELT ENERGY GAS DIST 2.57
Issuer Weight (%)
NEW JERSEY ST TRANSN TR FD AUTH 1.98
INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK 1.79
HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP 1.50
JERSEY CITY N J MUN UTILS AUTH 1.43
PUERTO RICO HSG FIN AUTH 1.12
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 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 Jan 15, 2021

% of Market Value

Type Fund
as of Jan 15, 2021

% 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 Jan 15, 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 01/19/21
Price $50.19
0.32%
Modified Duration 0.65 years

Spread of ACF Yield (0.32%) over 0.50 yr Treasury Yield (0.09%) As of 01/19/21 is + 23 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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