Fixed Income

LQDI

iShares Inflation Hedged Corporate Bond ETF

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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.
4.42 7.48 - - 6.79
Market Price (%) 5.00 7.91 - - 6.94
Benchmark (%) 7.88 9.24 - - 8.54
After Tax Pre-Liq. (%) 3.36 6.29 - - 5.54
After Tax Post-Liq. (%) 2.63 5.25 - - 4.69
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
-4.72 -1.38 -4.72 -2.32 4.42 24.16 - - 29.18
Market Price (%) -4.76 -0.54 -4.76 -1.87 5.00 25.65 - - 29.89
Benchmark (%) -4.11 -0.70 -4.11 -0.57 7.88 30.35 - - 37.61
After Tax Pre-Liq. (%) -4.88 -1.47 -4.88 -2.86 3.36 20.08 - - 23.39
After Tax Post-Liq. (%) -2.80 -0.82 -2.80 -1.36 2.63 16.60 - - 19.58
  2017 2018 2019 2020 2021
Total Return (%) - - 16.73 11.26 6.92
Market Price (%) - - 15.91 11.80 7.51
Benchmark (%) - - 17.01 12.54 10.17
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 May 18, 2022 $112,276,768
Fund Inception May 08, 2018
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index BlackRock Inflation Hedged Corporate Bond Index
Shares Outstanding as of May 17, 2022 4,150,000
Distribution Frequency Monthly
Premium/Discount as of May 17, 2022 0.00
CUSIP 46431W580
Closing Price as of May 17, 2022 26.94
30 Day Avg. Volume as of May 17, 2022 41,143.00
30 Day Median Bid/Ask Spread as of May 17, 2022 0.25%
Daily Volume as of May 17, 2022 32,242.00

Click here to see how this fund compares to the underlying fund referenced in the Investment Objective above.

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of May 17, 2022 1
Equity Beta (3y) as of Apr 30, 2022 0.46
30 Day SEC Yield as of May 17, 2022 2.91%
Average Yield to Maturity as of May 17, 2022 4.08%
Standard Deviation (3y) as of Apr 30, 2022 10.82%
12m Trailing Yield as of May 17, 2022 2.54%
Unsubsidized 30-Day SEC Yield as of May 17, 2022 2.76%
Modified Duration to Worst as of May 17, 2022 8.13
Weighted Avg Maturity as of May 17, 2022 13.12 yrs
Effective Duration as of May 17, 2022 8.06 yrs
Convexity as of May 17, 2022 1.24
Option Adjusted Spread as of May 17, 2022 140.25 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.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics 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 methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of May 06, 2022 AA
MSCI ESG % Coverage as of May 06, 2022 93.35%
MSCI ESG Quality Score (0-10) as of May 06, 2022 8.2
MSCI ESG Quality Score - Peer Percentile as of May 06, 2022 97.65%
Fund Lipper Global Classification as of May 06, 2022 Bond USD Inflation Linked
Funds in Peer Group as of May 06, 2022 85
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 06, 2022 159.31
MSCI Weighted Average Carbon Intensity % Coverage as of May 06, 2022 90.47%
MSCI Implied Temperature Rise (0-3.0+ °C) as of May 06, 2022 > 2.5° - 3.0° C
MSCI Implied Temperature Rise % Coverage as of May 06, 2022 87.74%

What is the Implied Temperature Rise (ITR) metric? Learn what the metric means, how it is calculated, and about the assumptions and limitations for this forward-looking climate-related metric.

Climate change is one of the greatest challenges in human history and will have profound implications for investors. To address climate change, many of the world's major countries have signed the Paris Agreement. The temperature goal of the Paris Agreement is to limit global warming to well below 2°C above pre-industrial levels, and ideally 1.5 °C, which will help us avoid the most severe impacts of climate change.


What is the ITR metric?

The ITR metric is used to provide an indication of alignment to the temperature goal of the Paris Agreement for a company or a portfolio. Scientific consensus suggests that reducing emissions until they reach net zero around mid-century (2050-2070) is how this goal could be met. A net zero emissions economy is one that balances emissions and removals.


How is the ITR metric calculated?

The ITR metric is calculated by looking at the current emissions intensity of companies within the fund's portfolio as well as the potential for those companies to reduce its emissions over time. If emissions in the global economy followed the same trend as the emissions of companies within the fund's portfolio, global temperatures would ultimately rise within this band.


Note, only corporate issuers are covered within the calculation. A summary explanation of MSCI’s methodology and assumptions for its ITR metric can be found here.


Because the ITR metric is calculated in part by considering the potential for a company within the fund’s portfolio to reduce its emissions over time, it is forward-looking and prone to limitations. As a result, BlackRock publishes MSCI’s ITR metric for its funds in temperature range bands. The bands help to underscore the underlying uncertainty in the calculations and the variability of the metric.

Thermometer-style chart of yellow to red temperature bands showing an investment’s position relative to the Paris Agreement temperature goals. Metric data source MSCI

What are the key assumptions and limitations of the ITR metric?

This forward-looking metric is calculated based on a model, which is dependent upon multiple assumptions. Also, there are limitations with the data inputs to the model. Importantly, an ITR metric may vary meaningfully across data providers for a variety of reasons due to methodological choices (e.g., differences in time horizons, the scope(s) of emissions included and portfolio aggregation calculations).

There is not a universally accepted way to calculate an ITR. There is not a universally agreed upon set of inputs for the calculation. At present, availability of input data varies across asset classes and markets. To the extent that data becomes more readily available and more accurate over time, we expect that ITR metric methodologies will evolve and may result in different outputs. Where data is not available, and / or if data changes, the estimation methods vary, particularly those related to a company’s future emissions.


The ITR metric estimates a fund’s alignment with the Paris Agreement temperature goal. However, there is no guarantee that these estimates will be reached. The ITR metric is not a real time estimate and may change over time, therefore it is prone to variance and may not always reflect a current estimate.


The ITR metric is not an indication or estimate of a fund’s performance or risk. Investors should not rely on this metric when making an investment decision and instead should refer to a fund’s prospectus and governing documents. This estimate and the associated information is not intended as a recommendation to invest in any fund, nor is it intended to indicate any correlation between a fund’s ITR metric and its future investment performance.

All data is from MSCI ESG Fund Ratings as of May 06, 2022, based on holdings as of Mar 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, 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 May 17, 2022 1.63%
MSCI - UN Global Compact Violators as of May 17, 2022 2.05%
MSCI - Nuclear Weapons as of May 17, 2022 1.24%
MSCI - Thermal Coal as of May 17, 2022 0.00%
MSCI - Civilian Firearms as of May 17, 2022 0.00%
MSCI - Oil Sands as of May 17, 2022 0.38%
MSCI - Tobacco as of May 17, 2022 1.44%

Business Involvement Coverage as of May 17, 2022 95.29%
Percentage of Fund not covered as of May 17, 2022 4.71%
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 0.10% and for Oil Sands 3.02%.

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 0.20%
Acquired Fund Fees and Expenses 0.13%
Foreign Taxes and Other Expenses 0.00%
Expense Ratio 0.33%
Fee Waivers 0.15%
Net Expense Ratio 0.18%

Ratings

Holdings

Holdings

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
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 (%) Accrual Date Effective Date
Holdings are subject to change. * Where the fund holds futures or swaps, initial margin is reflected in the Cash Collateral USD UBSFT account. The daily variation margin is included in the fund’s USD Cash, and/or Money Market accounts. Both the USD Cash and Money Market accounts may also hold cash from normal portfolio activities.

Where portfolio holdings include investments in a Fixed Income ETF, the associated Asset Class of the Fixed Income ETF held will be displayed as “Fixed Income.”

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 May 17, 2022

% of Market Value

Type Fund
as of May 17, 2022

% 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 May 17, 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.

Literature

Literature

 

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