Fixed Income

BIDIX

iShares Municipal Bond Index Fund

How To Buy
  • NAV as of Oct 21, 2024 $11.11
    52 WK: 10.29 - 11.24
  • 1 Day NAV Change as of Oct 21, 2024 -0.02 (-0.18%)
  • NAV Total Return as of Oct 21, 2024 YTD: 1.68%

Overview

Investment Approach

Seeks to provide investment results that correspond to the total return performance of fixed-income securities in the aggregate, as represented by the ICE BofAML U.S. Municipal Securities Index.
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Performance

Performance

  1y 3y 5y 10y
Total Return (%) 10.29 0.13 1.32 2.32
Benchmark (%) 10.48 0.09 1.41 2.57
Morningstar Category Avg. (%) 12.76 -0.36 1.19 2.47
Morningstar Ranking 151/168 40/164 68/155 -
Morningstar Quartile 4 2 2 3
Lipper Ranking 218/287 88/272 112/257 -
Lipper Quartile 4 2 2 -
  YTD 1m 3m 1y 3y 5y 10y
Total Return (%) 2.33 1.16 2.67 10.29 0.38 6.79 25.77
Benchmark (%) 2.66 1.06 2.73 10.48 0.28 7.26 28.90
Morningstar Category Avg. (%) 3.81 1.22 2.85 12.76 -1.09 6.11 27.60
  2019 2020 2021 2022 2023
Total Return (%) 7.52 4.97 1.62 -8.60 6.48
Benchmark (%) 7.74 5.26 1.83 -9.04 6.50
Morningstar Category Avg. (%) 8.37 5.36 2.88 -11.88 6.97

Performance is shown after deduction of ongoing charges. Any entry and exit charges are excluded from the calculation.

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).
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Key Facts

Key Facts

Net Assets
as of Oct 21, 2024
$38,724,263
Share Class launch date
Nov 16, 2018
Benchmark Index
ICE BofA US Municipal Securities Index (USD)
Morningstar Category
Muni National Interm
CUSIP
09258N349
Open to New Investors
Yes
Net Assets of Fund
as of Oct 21, 2024
$237,857,282
Asset Class
Fixed Income
Distribution Frequency
Monthly
Lipper Classification
Gen & Ins Muni Debt Fds
Max Offer Price
as of Oct 21, 2024
$11.11
Turnover Percent in the Annual Report
as of Dec 31, 2023
10%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Sep 30, 2024
290
Alpha (3y)
as of Sep 30, 2024
0.00
R-Squared (3y)
as of Sep 30, 2024
99.87
Beta (3y)
as of Sep 30, 2024
1.00
Unsubsidized 30-Day SEC Yield
as of Sep 30, 2024
3.10%
Effective Duration
as of Sep 30, 2024
6.23 yrs
WAL to Maturity
as of Sep 30, 2024
13.14 yrs
Worst 3-Month Return Over the Last 3 Years
3 months ending Oct 31, 2022
-6.83%
30 Day SEC Yield
as of Sep 30, 2024
3.16%
Yield to Maturity
as of Sep 30, 2024
3.79%
Fund Standard Deviation (3y)
as of Sep 30, 2024
7.70
Average Coupon
as of Sep 30, 2024
4.41%
Yield to Worst
as of Sep 30, 2024
3.32%
Weighted Average Life
as of Sep 30, 2024
7.56 yrs
Best 3-Month Return Over the Last 3 Years
3 months ending Jan 31, 2024
8.95%
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% (or 50% for bond funds and money market funds) 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. MSCI Ratings are currently unavailable for this fund.

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. 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 Sep 30, 2024
0.00%
MSCI - Nuclear Weapons
as of Sep 30, 2024
0.00%
MSCI - Civilian Firearms
as of Sep 30, 2024
0.00%
MSCI - Tobacco
as of Sep 30, 2024
0.00%
MSCI - UN Global Compact Violators
as of Sep 30, 2024
0.00%
MSCI - Thermal Coal
as of Sep 30, 2024
0.00%
MSCI - Oil Sands
as of Sep 30, 2024
0.00%
Business Involvement Coverage
as of Sep 30, 2024
4.53%
Percentage of Fund not covered
as of Sep 30, 2024
95.47%
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 0.11%.

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
Gross Expense Ratio 0.25%
Net Expense Ratio 0.25%

Net Expense Ratio excluding Investment Related Expenses is 0.25%

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

Ratings

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Aug 31, 2024)
Analyst-Driven % as of Aug 31, 2024
20.00
Data Coverage % as of Aug 31, 2024
100.00

Lipper Leader

 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Sep 30, 2024 out of 270, 6,110, 272, 128 and 271 Funds, respectively in Lipper's Gen & Ins Muni Debt Fds classification.

Holdings

Holdings

as of Sep 30, 2024
Name Weight (%)
DENVER COLO CITY & CNTY ARPT R 5.5 11/15/2029 1.42
NEW YORK N Y CITY TRANSITIONAL 5 02/01/2032 1.10
WASHINGTON ST HEALTH CARE FACS 5 10/01/2038 0.93
OHIO ST WTR DEV AUTH WTR POLLU 5 12/01/2028 0.90
METROPOLITAN TRANSN AUTH N Y R 5 11/15/2034 0.87
Name Weight (%)
NEW JERSEY ST TRANSN TR FD AUTH 0 12/15/2035 0.86
NORTH TEX TWY AUTH REV 5 01/01/2043 0.79
NEW YORK N Y 4 08/01/2040 0.78
GEORGIA ST 5 07/01/2028 0.77
MARYLAND ST 5 06/01/2033 0.73
Name Market Value Weight (%) Quantity Maturity Coupon (%)
Holdings are subject to change. Fund holdings and allocations shown are unaudited, and may not be representative of current or future investments. Holdings shown should not be deemed as a recommendation to buy or sell securities. The user relies on this data at its own risk and neither BlackRock nor any other party makes any representations or express or implied warranties (which are expressly disclaimed) nor shall they incur any liability for any errors or omissions in the data.

Exposure Breakdowns

Exposure Breakdowns

as of Sep 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Sep 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2024

% of Market Value

Type Fund Benchmark Net
as of Sep 30, 2024

% 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.

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Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

©2020 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.

USR-9694

Portfolio Managers

Portfolio Managers

James Mauro
James Mauro
Karen Uyehara
Karen Uyehara
Managing Director, Deputy Head of Index Fixed Income

  

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Karen Uyehara, Managing Director, is the Deputy Head of Index Fixed Income (IFI) Portfolio Management in the Americas within BlackRock Global Markets & Index Investments. Ms. Uyehara's investment team is responsible for management of US based iShares and Index Funds.

 

Prior to joining BlackRock in 2010, Ms. Uyehara was a portfolio manager at Western Asset Management Company where she was responsible for the management of core and core plus portfolios. Earlier in her career, Ms. Uyehara worked at Pacific Investment Management Company (PIMCO), BGI and Lehman Brothers.

 

Ms. Uyehara earned a BA degree with a double major in economics and history from the University of California at San Diego and an MBA degree with a concentration in finance and investments from the University of Southern California.

Portfolio Manager

Literature

Literature