Fixed Income

BIDIX

iShares Municipal Bond Index Fund

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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  1y 3y 5y 10y
4.97 4.55 3.57 4.10
Benchmark (%)

as of Dec 31, 2020

5.26 4.64 3.94 4.79
Morningstar Category Avg. (%)

as of Dec 31, 2020

4.51 3.99 3.23 3.89
Morningstar Ranking

as of Dec 31, 2020

54/291 - - -
Morningstar Quartile

as of Dec 31, 2020

1 1 2 2
Lipper Ranking

as of Dec 31, 2020

122/286 - - -
Lipper Quartile

as of Dec 31, 2020

2 - - -
  YTD 1m 3m 1y 3y 5y 10y
4.97 0.61 1.94 4.97 14.30 19.19 49.50
Benchmark (%)

as of Dec 31, 2020

5.26 0.68 2.02 5.26 14.58 21.32 59.71
Morningstar Category Avg. (%)

as of Dec 31, 2020

4.51 0.73 1.92 4.51 12.46 17.22 46.48
  2016 2017 2018 2019 2020
Total Return (%) - - 1.27 7.52 4.97
Benchmark (%) - - 1.04 7.74 5.26
Morningstar Category Avg. (%) -0.20 4.61 0.78 6.91 4.51
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.

The Fund’s returns prior to November 19, 2018 reflect the performance of the State Farm Tax Advantaged Bond Fund (the “Predecessor Fund”). Effective November 19, 2018, the Fund adopted the performance of the Predecessor Fund as a result of a reorganization in which the Fund acquired all of the assets and assumed certain stated liabilities of the Predecessor Fund. Performance shown is based on the investment objective and investment strategies utilized by the Predecessor Fund, which differed from those of the Fund. The Predecessor Fund was managed by a different investment adviser and had a different portfolio management team from that of the Fund. The performance information for periods prior to November 19, 2018, is stated based on the performance of Investor A Shares of the Fund lunich (which, for periods prior to November 19, 2018, reflected the performance of Premier Shares of the Predecessor Fund).

Key Facts

Key Facts

Size of Class (Millions) as of Jan 27, 2021 $6.4 M
Share Class launch date Nov 16, 2018
Asset Class Fixed Income
Size of Fund (Millions) as of Jan 27, 2021 $346.4 M
Morningstar Category Muni National Interm
Lipper Classification Gen & Ins Muni Debt Fds
Benchmark Index ICE BofA US Municipal Securities Index
Distribution Frequency Daily
CUSIP 09258N349
Max Offer Price as of Jan 27, 2021 $12.34
Open to New Investors Yes
Turnover Percent in the Annual Report 24%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Dec 31, 2020 312
Alpha (3y) as of - -
Yield to Maturity as of Jan 26, 2021 2.59%
R-Squared (3y) as of - -
30 Day SEC Yield as of Dec 31, 2020 0.89%
Yield to Worst as of Jan 26, 2021 0.99%
Fund Standard Deviation (3y) as of - -
Beta (3y) as of - -
Average Coupon as of Jan 26, 2021 4.66%
Unsubsidized 30-Day SEC Yield as of Dec 31, 2020 0.85%
Effective Duration as of Jan 26, 2021 6.59 yrs
Weighted Average Life as of Jan 26, 2021 5.54 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending - -
Worst 3-Month Return Over the Last 3 Years 3 months ending - -
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.

Fees

Fees

Gross Expense Ratio 0.25%
Net Expense Ratio 0.25%

Net Expense Ratio excluding Investment Related Expenses is 0.24%

  • Acquired Fund Fees and Expenses 0.01%
  • Interest expense 0.00%

Ratings

Holdings

Holdings

as of Jan 26, 2021
Name Weight (%)
TENNESSEE ST 4 08/01/2025 1.56
NEW YORK ST URBAN DEV CORP REV 4 03/15/2049 0.95
SALT RIV PROJ AGRIC IMPT & PWR 5 01/01/2034 0.89
NEW YORK N Y CITY MUN WTR FIN 5 06/15/2035 0.84
GOLDEN ST TOB SECURITIZATION C 5 06/01/2034 0.82
Name Weight (%)
NEW YORK N Y CITY HEALTH & HOSP CO 5 02/15/2030 0.75
SAN DIEGO CALIF UNI SCH DIST 5 07/01/2047 0.75
NEW YORK N Y CITY TRANSITIONAL 5 07/15/2035 0.71
NEW YORK ST DORM AUTH REVS NON 5 10/01/2045 0.70
CALIFORNIA HEALTH FACS FING AU 5 11/15/2048 0.69

Exposure Breakdowns

Exposure Breakdowns

as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
as of Jan 26, 2021

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. 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.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

James Mauro
James Mauro
Karen Uyehara
Core Portfolio Manager, Systematic Fixed Income

  

Portfolio Manager

Literature

Literature

 

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