Fixed Income

HYXF

iShares ESG Advanced High Yield Corporate Bond ETF

Overview

SUSTAINABLE SCREENS

As part of its investment objective this fund seeks to track an index that applies the following business involvement screens: adult entertainment, alcohol, civilian firearms, conventional weapons, controversial weapons, for profit prisons, fossil fuels, gambling, genetically modified organisms (GMOs), nuclear power, nuclear weapons, palm oil, predatory lending and tobacco. The business involvement screens are based on revenue or percentage of revenue thresholds for certain categories and categorical exclusions for others. Please read the definition for each screen here.

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Performance

Performance

Growth of Hypothetical $10,000

Performance chart data not available for display.
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Distributions

Record Date Ex-Date Payable Date
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Premium/Discount

  1y 3y 5y 10y Incept.
3.59 4.93 - - 6.36
Market Price (%) 3.18 4.89 - - 6.37
Benchmark (%) 3.86 5.12 - - 6.72
After Tax Pre-Liq. (%) 1.54 2.57 - - 3.96
After Tax Post-Liq. (%) 2.09 2.73 - - 3.81
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
1.03 -0.67 4.59 10.24 3.59 15.53 - - 30.37
Market Price (%) 0.87 -0.42 4.35 8.72 3.18 15.42 - - 30.41
Benchmark (%) 1.13 -0.69 4.67 10.39 3.86 16.17 - - 32.20
After Tax Pre-Liq. (%) -0.34 -0.84 4.07 9.11 1.54 7.92 - - 18.17
After Tax Post-Liq. (%) 0.58 -0.40 2.71 6.04 2.09 8.40 - - 17.43
  2015 2016 2017 2018 2019
Total Return (%) - - 5.85 -0.66 15.29
Market Price (%) - - 5.72 0.13 14.53
Benchmark (%) - - 6.28 -0.59 15.73
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 Oct 23, 2020 $61,811,739
Inception Date Jun 14, 2016
Exchange NASDAQ
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays MSCI US High Yield Choice ESG Screened Index
Bloomberg Index Ticker I35648US
Shares Outstanding as of Oct 23, 2020 1,200,000
Premium/Discount as of Oct 23, 2020 0.35%
CUSIP 46435G441
Closing Price as of Oct 23, 2020 51.69
Options Available No
30 Day Avg. Volume as of Oct 23, 2020 27,343.00
30 Day Median Bid/Ask Spread as of Oct 23, 2020 0.17%
Daily Volume as of Oct 23, 2020 17,647.00

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Oct 22, 2020 589
Equity Beta (3y) as of Sep 30, 2020 0.31
30 Day SEC Yield as of Oct 22, 2020 3.93%
Average Yield to Maturity as of Oct 22, 2020 4.16%
Standard Deviation (3y) as of Sep 30, 2020 6.82%
12m Trailing Yield as of Oct 22, 2020 4.79%
Weighted Avg Coupon as of Oct 22, 2020 5.69%
Effective Duration as of Oct 22, 2020 3.67 yrs
Weighted Avg Maturity as of Oct 22, 2020 4.08 yrs
Convexity as of Oct 22, 2020 -0.13
Option Adjusted Spread as of Oct 22, 2020 373
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Sustainability Characteristics

Sustainability Characteristics

ESG metrics help investors evaluate companies based on environmental, social, and governance risks and opportunities — and the companies’ ability to manage them. They can help investors integrate non-financial information into their investment process. Learn more.

MSCI ESG Rating as of Oct 01, 2020 BB
MSCI ESG Quality Score as of Oct 01, 2020 3.3
MSCI ESG Quality Score - Peer Percentile as of Oct 01, 2020 64.99%
MSCI ESG % Coverage as of Oct 01, 2020 91.06%
Fund Lipper Global Classification as of Oct 01, 2020 Bond USD High Yield
MSCI Weighted Average Carbon Intensity
(Tons CO2E/$M SALES) as of Oct 01, 2020
234.30
Fund Lipper Global Classification Size as of Oct 01, 2020 397
All data is from MSCI ESG Fund Ratings as of Oct 01, 2020, based on holdings as of Jul 31, 2020.

For newly launched funds, sustainability characteristics are typically available 6 months after launch.

 

Sustainability Characteristics are displayed for funds included in the MSCI ESG Fund Ratings. To be included in MSCI ESG Fund Ratings, 65% of the fund’s underlying holdings (excluding cash positions) must be covered by MSCI ESG Research, the fund’s holdings date must be less than one year old, and the fund must have at least ten securities.

 

Inclusion of Sustainability Characteristics is not indicative of a fund’s investment objective, nor is it an implication that a fund employs an ESG-related portfolio management strategy.

Fees

Fees

as of current prospectus
Management Fee 0.35%
Acquired Fund Fees and Expenses 0.00%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.35%

Holdings

Holdings

as of Oct 22, 2020
Issuer Weight (%)
CENTENE CORPORATION 2.09
KRAFT HEINZ FOODS CO 2.06
TRANSDIGM INC 2.03
HCA INC 2.02
TENET HEALTHCARE CORPORATION 2.01
Issuer Weight (%)
SIRIUS XM RADIO INC 1.60
UNITED RENTALS (NORTH AMERICA) INC 1.44
1011778 BC UNLIMITED LIABILITY CO 1.42
SPRINT CORP 1.41
POST HOLDINGS INC 1.32
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
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 Oct 22, 2020

% 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 Oct 22, 2020

% of Market Value

Type Fund
as of Oct 22, 2020

% 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 10/23/20
Price $51.69
4.23%
Modified Duration 3.36 years

Spread of ACF Yield (4.23%) over 3.00 yr Treasury Yield (0.20%) As of 10/23/20 is + 403 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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