Fixed Income

BIDKX

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
3.12 -0.32 1.59 2.45
Benchmark (%) 3.24 -0.44 1.61 2.71
Morningstar Category Avg. (%) 4.25 -0.97 1.34 2.62
Morningstar Ranking 144/169 30/162 53/153 -
Morningstar Quartile 4 1 2 3
Lipper Ranking 218/294 60/271 81/256 -
Lipper Quartile 3 1 2 -
  YTD 1m 3m 1y 3y 5y 10y
-0.43 -0.12 -0.43 3.12 -0.97 8.20 27.34
Benchmark (%) -0.32 -0.10 -0.32 3.24 -1.32 8.31 30.63
Morningstar Category Avg. (%) 0.23 0.13 0.23 4.25 -2.87 6.87 29.52
  2019 2020 2021 2022 2023
Total Return (%) 7.57 5.00 1.67 -8.57 6.53
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 dated based on the performance of Investor A Shares of the Fund (which, for periods current for period prior to November 19, 2018, reflect the performance of Premier Shares of the Predecessor Fund).

Key Facts

Key Facts

Net Assets as of Apr 12, 2024 $95,636
Net Assets of Fund as of Apr 12, 2024 $246,524,534
Share Class launch date Nov 16, 2018
Asset Class Fixed Income
Benchmark Index ICE BofA US Municipal Securities Index (USD)
Distribution Frequency Monthly
Morningstar Category Muni National Interm
Lipper Classification Gen & Ins Muni Debt Fds
CUSIP 09258N331
Max Offer Price as of Apr 12, 2024 $10.98
Open to New Investors Yes
Turnover Percent in the Annual Report 10%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings as of Mar 28, 2024 271
30 Day SEC Yield as of Mar 31, 2024 3.23%
Alpha (3y) as of Mar 31, 2024 0.01
Yield to Maturity as of Mar 28, 2024 3.95%
R-Squared (3y) 99.87
Fund Standard Deviation (3y) as of Mar 31, 2024 7.60
Beta (3y) as of Mar 31, 2024 1.00
Average Coupon 4.42%
Unsubsidized 30-Day SEC Yield as of Mar 31, 2024 3.18%
Yield to Worst as of Mar 28, 2024 3.52%
Effective Duration as of Mar 28, 2024 6.35 yrs
Weighted Average Life as of Mar 28, 2024 8.08 yrs
WAL to Maturity as of Mar 28, 2024 13.83 yrs
Best 3-Month Return Over the Last 3 Years 3 months ending Jan 31, 2024 8.86%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2022 -6.74%
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.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.32%
Net Expense Ratio 0.20%

Net Expense Ratio excluding Investment Related Expenses is 0.20%

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

Ratings

Ratings

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 Mar 31, 2024 out of 268, 6,162, 271, 126 and 270 Funds, respectively in Lipper's Gen & Ins Muni Debt Fds classification.

Morningstar Medalist Rating

Morningstar Medalist Rating - GOLD
Morningstar has awarded the Fund a Gold medal, its highest level of conviction. (Effective Feb 29, 2024)

Holdings

Holdings

as of Mar 28, 2024
Name Weight (%)
DENVER COLO CITY & CNTY ARPT R 5.5 11/15/2029 1.37
NEW YORK N Y CITY TRANSITIONAL 5 02/01/2032 1.07
GOLDEN ST TOB SECURITIZATION C 5 06/01/2034 1.00
WASHINGTON ST HEALTH CARE FACS 5 10/01/2038 0.90
SAN DIEGO CALIF UNI SCH DIST 5 07/01/2047 0.87
Name Weight (%)
OHIO ST WTR DEV AUTH WTR POLLU 5 12/01/2028 0.87
METROPOLITAN TRANSN AUTH N Y R 5 11/15/2034 0.84
PORT AUTH N Y & N J 5 07/15/2048 0.81
NEW JERSEY ST TRANSN TR FD AUTH 0 12/15/2035 0.81
NORTH TEX TWY AUTH REV 5 01/01/2043 0.77
Name Market Value Weight (%) Shares 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 Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 2024

% of Market Value

Type Fund Benchmark Net
as of Mar 28, 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.

Portfolio Managers

Portfolio Managers

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

  

Portfolio Manager

Literature

Literature

 

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