IBHA

iShares® iBonds® 2021 Term High Yield and Income ETF

Fixed Income

IBHA

iShares® iBonds® 2021 Term High Yield and Income ETF

How To Buy
  • Fees as stated in the prospectus Expense Ratio: 0.35%

Overview

Why IBHA?

1. New, innovative way to seek higher income. Get exposure to a diversified universe of high yield and BBB-rated corporate bonds maturing between January 1, 2021 and December 15, 2021 in a single fund.

 

2. Designed to mature like a bond, trade like a stock. Combine the defined maturity and regular income distribution characteristics of a bond with the transparency and tradability of a stock.

 

3. Built to help investors achieve multiple objectives. Use to seek higher income, build a bond ladder, and manage interest rate risk.

INVESTMENT OBJECTIVE

The iShares® iBonds® 2021 Term High Yield and Income ETF seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield and other income generating corporate bonds maturing in 2021.

This Fund is covered by U.S. Patent Nos. 8,438,100 and 8,655,770.
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Performance

Performance

  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. -2.66 1.24 4.71 -2.66 -0.34 - - - 0.01
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). -3.14 0.77 3.82 -3.14 -0.80 - - - -0.24
Benchmark (%) Index: Bloomberg Barclays 2021 Term High Yield and Income Index -2.80 1.12 4.80 -2.80 -0.36 - - - 0.00
After Tax Pre-Liq. (%) Return after taxes on distributions. Assumes fund shares have not been sold. -3.33 1.11 4.30 -3.33 -2.26 - - - -1.91
After Tax Post-Liq. (%) Return after taxes on distributions and sale of fund shares. -1.58 0.73 2.78 -1.58 -0.20 - - - -0.77
  2015 2016 2017 2018 2019
Total Return (%) Total return represents changes to the NAV and accounts for distributions from the fund. - - - - -
Market Price (%) Market price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds). - - - - -
Benchmark (%) Index: Bloomberg Barclays 2021 Term High Yield and Income Index - - - - -
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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

Record Date Ex-Date Payable Date
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Distributions Schedule
Record Date Ex-Date Payable Date Total Distribution Current year distributions are not classified as “Income,” “Short-Term Capital Gains,” “Long-Term Capital Gains,” or “Return of Capital” until calendar year-end. Income ST Cap Gains LT Cap Gains Return of Capital

Premium/Discount

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Key Facts

Key Facts

Net Assets as of Jul 10, 2020 $16,713,821
Inception Date May 07, 2019
Exchange Cboe BZX formerly known as BATS
Asset Class Fixed Income
Benchmark Index Bloomberg Barclays 2021 Term High Yield and Income Index
Bloomberg Index Ticker BBG34441S
Shares Outstanding as of Jul 10, 2020 700,000
Number of Holdings The number of holdings in the fund excluding cash positions and derivatives such as futures and currency forwards. as of Jul 09, 2020 150
Premium/Discount The amount the Fund is trading above or below the reported NAV expressed as a percentage of the NAV. When the fund's market price is greater than the fund’s NAV, it is said to be trading at a "Premium" and the percentage is expressed as a positive number. When the fund's market price is less than the fund’s NAV, it is said to be trading at a "Discount" and the percentage is expressed as a negative number. as of Jul 10, 2020 -0.11%
CUSIP 46435U226
Closing Price as of Jul 10, 2020 23.85
Mid-Point Price The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 pm eastern time for most funds). as of Jul 10, 2020 23.85
Options Available No
20 Day Avg. Volume The average number of shares traded in a security across all U.S. exchanges over the last 20 trading days. as of Jul 10, 2020 3,204.05
Daily Volume The number of shares traded in a security across all U.S. exchanges on the date indicated. as of Jul 10, 2020 6,192.00

Portfolio Characteristics

Portfolio Characteristics

Equity Beta (3y) Beta is a measure of the tendency of securities to move with the market as a whole. A beta of 1 indicates that the security&#39;s price will move with the market. A beta less than 1 indicates the security tends to be less volatile than the market, while a beta greater than 1 indicates the security is more volatile than the market.<br/><br/>Calculated vs. S&amp;P 500 as of - -
30 Day SEC Yield A standard calculation of yield introduced by the SEC in order to provide fairer comparison among funds. This yield reflects the interest earned after deducting the fund&#39;s expenses during the most recent 30-day period by the average investor in the fund. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. as of Jul 09, 2020 4.00%
Average Yield to Maturity The discount rate that equates the present value of a bond’s cash flows with its market price (including accrued interest). The Fund Average Yield to Maturity is the weighted average of the fund’s individual bond holding yields based on Net Asset Value (‘NAV’). The measure does not include fees and expenses. For callable bonds, this yield is the yield-to-worst. as of Jul 09, 2020 4.36%
Standard Deviation (3y) Standard deviation measures how dispersed returns are around the average. A higher standard deviation indicates that returns are spread out over a larger range of values and thus, more volatile. as of - -
12m Trailing Yield The yield an investor would have received if they had held the fund over the last twelve months assuming the most recent NAV. The 12-Month yield is calculated by assuming any income distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past twelve months. as of Jul 09, 2020 4.51%
Weighted Avg Coupon The average coupon rate of the underlying bonds in the fund, weighted by each bond&#39;s face value. as of Jul 09, 2020 5.35%
Effective Duration Effective Duration measures the sensitivity of the price of a bond with or without embedded options to changes in interest rates, taking into account the likelihood of the bond being called, put and/or sunk prior to its final maturity date while incorporating after-tax impacts on the bond. The options-based duration model used by BlackRock employs certain assumptions and may differ from other fund complexes. Effective Duration is measured at the individual bond level, aggregated to the portfolio level, and adjusted for leverage, hedging transactions and non-bond holdings, including derivatives. as of Jul 09, 2020 0.89 yrs
Weighted Avg Maturity 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 Jul 09, 2020 0.91 yrs
Convexity Convexity measures the change in duration for a given change in rates. Positive convexity indicates that duration lengthens when rates fall and contracts when rates rise; negative convexity indicates that duration contracts when rates fall and increases when rates rise. as of Jul 09, 2020 0.01
Option Adjusted Spread The weighted average incremental yield earned over similar duration US Treasuries, measured in basis points. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date. as of Jul 09, 2020 409
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 The MSCI ESG Rating for funds is designed to measure the resiliency of portfolios to long-term ESG risks and opportunities. The most highly rated funds consist of issuers with leading or improving management of key ESG risks. The ESG Rating is calculated as a direct mapping of ESG Quality Scores to letter rating categories (e.g. AAA = 8.6-10). The ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC). BB
MSCI ESG Quality Score The MSCI ESG Quality Score (0 - 10) for funds is calculated using the weighted average of the ESG scores of fund holdings. The Score also considers ESG Rating trend of holdings and the fund exposure to holdings in the laggard category. MSCI rates underlying holdings according to their exposure to 37 industry specific ESG risks and their ability to manage those risks relative to peers. These issuer-level ESG ratings correspond to an issuer-level ESG Score. as of Jun 01, 2020 3.8
MSCI ESG Quality Score - Peer Percentile The MSCI ESG Quality Score - Peer Percentile for funds is a percentile of funds in the same peer group, based on their ESG Quality Scores. as of - -
MSCI ESG % Coverage Percent by weight of a fund&#39;s holdings that have ESG Data. as of Jun 01, 2020 92.69%
Fund Lipper Global Classification The fund peer group as defined by the Lipper Global Classification. as of Jun 01, 2020 Unclassified
MSCI Weighted Average Carbon Intensity
(Tons CO2E/$M SALES) The MSCI Weighted Average Carbon Intensity measures a fund&#39;s exposure to carbon intensive companies. This figure represents the estimated greenhouse gas emissions per $1 million in sales across the fund’s holdings. The figure is a sum of the normalized security weight multiplied by the security Carbon Intensity. This allows for comparisons between funds of different sizes. as of Jun 01, 2020 258.48
Fund Lipper Global Classification Size The number of funds used to calculate the MSCI ESG Quality Score - Peer Percentile. This is based on the Lipper Global Classification and reflects the funds that are in the MSCI ESG Fund Ratings coverage universe. as of Jun 01, 2020 95
All data is from MSCI ESG Fund Ratings as of Jun 01, 2020, based on holdings as of Apr 30, 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.

Holdings

Holdings

as of Jul 09, 2020
Issuer Weight (%)
DELL INTERNATIONAL LLC 2.73
DISH DBS CORP 2.46
CSC HOLDINGS LLC 2.38
NAVIENT CORP 2.27
OCCIDENTAL PETROLEUM CORPORATION 2.25
Issuer Weight (%)
LENNAR CORPORATION 2.19
HUGHES SATELLITE SYSTEMS CORP 2.17
STARWOOD PROPERTY TRUST INC 2.09
ADT SECURITY CORP 2.05
XEROX CORPORATION 1.99
as of Jul 09, 2020
Ticker Name Market Value Weight (%) Shares CUSIP ISIN Price
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
Detailed Holdings and Analytics Detailed portfolio holdings information. Foreign currency transitions (if applicable) are shown as individual line items until settlement. Once settled, those transactions are aggregated as cash for the corresponding 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 Jul 09, 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 Jul 09, 2020

% of Market Value

Type Fund
as of Jul 09, 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.

Literature

Literature

 

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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.

Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

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

©2019 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.

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